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The Preliminary Agreement for Sale and Purchase is a crucial document in Indian property transactions that serves as a legally binding commitment between parties before the execution of the final sale deed. This agreement is typically used when parties have agreed on essential terms but need time for due diligence, document verification, or arranging finances. It outlines key aspects such as property details, purchase price, payment schedule, and conditions precedent, while providing legal protection under Indian jurisdiction. The document is particularly important in complex property transactions where immediate execution of the sale deed is not feasible. It must comply with the Indian Contract Act, Transfer of Property Act, and relevant state-specific property laws.

1. Parties: Identification and details of the seller and purchaser, including names, addresses, and registration details if companies

2. Background: Context of the transaction and brief description of the parties' intention to enter into a sale and purchase arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property being sold, including address, boundaries, and registration details

5. Purchase Price: Agreed purchase price and payment structure, including earnest money deposit

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default

7. Conditions Precedent: Conditions that must be satisfied before proceeding to final sale deed

8. Due Diligence: Seller's obligations to provide documents and buyer's right to investigate title and property condition

9. Representations and Warranties: Statements and guarantees made by both parties, particularly regarding property title and condition

10. Timeframe: Timeline for completion of due diligence, fulfillment of conditions, and execution of final sale deed

11. Default and Termination: Consequences of breach and circumstances under which the agreement can be terminated

12. Dispute Resolution: Process for resolving disputes, including jurisdiction and governing law

13. Notices: Method and addresses for serving notices between parties

14. Execution: Signature blocks and execution formalities