The Agreement For Purchase Of Flat With Builder is a vital legal document used in Indian real estate transactions when an individual or entity purchases a flat/apartment directly from a builder or developer. This agreement type is essential in new construction or pre-launch property purchases and must comply with the Real Estate (Regulation and Development) Act, 2016 (RERA), along with state-specific real estate regulations. The document serves multiple purposes: it confirms the purchase terms, establishes payment schedules, defines property specifications, outlines possession timelines, and sets forth the rights and obligations of both parties. It's particularly important in the Indian context where property transactions require robust documentation for legal compliance, mortgage purposes, and registration with relevant authorities. The agreement includes various consumer protection measures as mandated by Indian law and typically forms the basis for property registration and mortgage documentation.

1. Parties: Details of the Builder/Developer and the Purchaser including full legal names, addresses, and registration details

2. Background: Context of the agreement including property development details, Builder's rights over the land, and relevant approvals obtained

3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Common Areas', 'Super Built-up Area', etc.

4. Property Details: Comprehensive description of the flat including unit number, floor, tower, carpet area, super built-up area, and specifications

5. Purchase Price: Total consideration, price breakdown, payment schedule, and mode of payment

6. Payment Terms: Detailed payment milestones, installment schedule, delayed payment charges, and payment methods

7. Builder's Obligations: Commitments regarding construction quality, timeline, amenities, obtaining approvals, and handling defects

8. Purchaser's Obligations: Responsibilities regarding timely payments, compliance with society rules, and maintenance charges

9. Possession: Terms regarding handover, completion date, delay compensation, and possession procedures

10. Maintenance and Utilities: Terms for maintenance charges, utility connections, and common area maintenance

11. Transfer and Assignment: Conditions for transfer of rights, restrictions on assignment, and nomination rights

12. Default and Termination: Consequences of default by either party, remedies, and termination procedures

13. Representations and Warranties: Declarations by both parties regarding their authority, title clarity, and compliance with laws

14. Dispute Resolution: Mechanism for resolving disputes including arbitration and jurisdiction details

15. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

16. Notices: Method and addresses for serving official communications between parties

17. Governing Law: Applicable laws and jurisdiction governing the agreement

18. Miscellaneous: Standard boilerplate clauses including severability, entire agreement, and amendments