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Commercial Property Purchase Contract for India

Commercial Property Purchase Contract Template for India

A comprehensive legal agreement governed by Indian law that facilitates the purchase and sale of commercial property between parties. The document incorporates all essential elements required under the Transfer of Property Act, 1882, and other relevant Indian legislation, including detailed property specifications, payment terms, warranties, and completion requirements. It ensures compliance with state-specific registration requirements, stamp duty provisions, and local municipal regulations while protecting both parties' interests through clearly defined rights and obligations.

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Commercial Property Purchase Contract

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What is a Commercial Property Purchase Contract?

The Commercial Property Purchase Contract is a fundamental legal document used in Indian real estate transactions for the acquisition of commercial properties. This document is essential when businesses or individuals seek to purchase commercial real estate assets such as office spaces, retail outlets, warehouses, or industrial facilities. It must comply with multiple Indian legislations, including the Transfer of Property Act 1882, Registration Act 1908, and state-specific property laws. The contract typically includes comprehensive details about the property, purchase price, payment structure, warranties, and completion requirements. It also addresses crucial aspects such as title verification, due diligence requirements, and regulatory compliance. This document is particularly important in the Indian context due to the complex nature of property laws and the need for careful documentation to ensure clear title transfer and regulatory compliance.

What sections should be included in a Commercial Property Purchase Contract?

1. Parties: Details of the seller and purchaser, including registered addresses and company registration numbers if applicable

2. Background: Context of the transaction and brief property overview

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

4. Sale and Purchase: Core agreement to sell and purchase the property

5. Purchase Price: Detailed breakdown of the purchase price and payment structure

6. Deposit: Terms relating to the initial deposit, including amount and holding arrangements

7. Conditions Precedent: Conditions that must be satisfied before completion

8. Due Diligence: Buyer's right to investigate title and property condition

9. Title and Transfer: Provisions regarding clean title transfer and registration requirements

10. Seller's Warranties: Warranties regarding property ownership, encumbrances, and compliance

11. Completion: Process and requirements for completing the transaction

12. Post-Completion Obligations: Actions required after completion, including registration and handover

13. Default and Termination: Consequences of default and termination rights

14. Notices: Process for serving notices between parties

15. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution

What sections are optional to include in a Commercial Property Purchase Contract?

1. Mortgage and Finance: Include when buyer requires mortgage financing, detailing lender requirements

2. Development Rights: Include when property has potential for development or pending approvals

3. Environmental Compliance: Include for properties with specific environmental considerations or requirements

4. Tenant Rights: Include when property is sold with existing tenancies

5. Foreign Investment: Include when transaction involves foreign buyers or FEMA compliance

6. GST Provisions: Include when GST is applicable to the transaction

7. Asset Transfer: Include when sale includes furniture, fixtures, or equipment

8. Property Management: Include when transitional management arrangements are required

What schedules should be included in a Commercial Property Purchase Contract?

1. Property Description: Detailed description of the property including boundaries and measurements

2. Title Documents: List of title documents and chain of title

3. Payment Schedule: Detailed breakdown of payment installments and timing

4. Due Diligence Documents: List of documents provided for due diligence

5. Encumbrances: Details of any existing encumbrances, charges, or mortgages

6. Completion Requirements: Checklist of documents required for completion

7. Property Plans: Floor plans, site maps, and approved drawings

8. Permits and Licenses: Copies of relevant permits, licenses, and certificates

9. Existing Contracts: Details of service contracts, maintenance agreements, etc.

10. Property Inventory: List of fixtures, fittings, and equipment included in sale

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions








































Clauses































Relevant Industries

Real Estate

Banking & Finance

Manufacturing

Retail

Healthcare

Technology

Hospitality

Logistics & Warehousing

Education

Professional Services

Relevant Teams

Legal

Finance

Real Estate

Operations

Compliance

Risk Management

Facilities Management

Corporate Development

Property Management

Investment

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Corporate Counsel

Legal Director

Facilities Manager

Investment Manager

Business Development Director

Operations Director

Compliance Officer

Risk Manager

Finance Manager

Property Acquisitions Manager

Real Estate Portfolio Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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