Draft Allotment Letter & Agreement For Sale

An agreement to sell is an instrument wherein the seller makes a promise to transfer the property to a buyer on fulfillment of certain conditions however it does not create ownership of the buyer over the property.

Sec 13(1) of RERA Act 2016 states that "A promoter shall not accept a sum more than ten percent of the cost of the apartment, plot or building as, the case may be, as an advance payment or an application fee from a person without first entering into written agreement for sale with such person and register the said agreement for sale, under any law for the time being in force".

Hence it becomes the duty of the promoter to first provide agreement for sale to the buyer once he receives advance amount of 10% of consideration value from the buyer and the documents should be registered before the appropriate authorities.

Kheprri consultancy Pvt Ltd would be glad to take this workload off you. Our team of experts will get your documentation done with correct guidelines as stated by maharera. While registering for RERA Draft Allotment Letter along with Draft Agreement for Sale is mandatory. We help in drafting Allotment Letter as well as Agreement for Sale.