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The Apartment Purchase Agreement is a crucial legal document used in Indian real estate transactions for the purchase of residential apartments. It serves as the primary contract between the developer/seller and the buyer, establishing their rights and obligations under the Real Estate (Regulation and Development) Act 2016 (RERA). This document is essential when purchasing any apartment in India, whether under construction or completed, and must comply with state-specific real estate regulations. The agreement typically includes comprehensive details about the property, payment terms, possession timeline, specifications, and amenities. It provides legal protection to both parties and serves as evidence of the transaction for registration purposes. The document must be stamped and registered according to applicable state laws to be legally enforceable.

1. Parties: Identification and details of the Seller/Developer and the Buyer/Purchaser including complete addresses and registration details

2. Background: Context of the transaction, brief description of the property and development project, and RERA registration details

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

4. Property Description: Detailed description of the apartment including floor, unit number, tower/block, carpet area, super built-up area, and boundaries

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

6. Payment Terms: Detailed payment schedule, installment amounts, due dates, and payment methods

7. Possession: Timeline for completion and possession, conditions for handover, and consequences of delay

8. Representations and Warranties: Declarations and assurances by both parties regarding their capacity, authority, and property details

9. Rights and Obligations: Detailed responsibilities and rights of both parties including maintenance, usage restrictions, and common area rights

10. Default and Remedies: Consequences of default by either party and available remedies

11. Registration and Transfer: Process and obligations regarding property registration and transfer of title

12. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction over disputes

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

14. Force Majeure: Circumstances beyond control that may affect contract performance

15. Execution: Signature clauses and witness details