It is an instrument in writing which transfers the ownership of the property or properties in exchange for a price paid/consideration. This is a document that requires to be registered compulsorily.
The sales deed must have a proper description of the property you intend to buy. For instance, if you are buying a 3BHK in Bandra, the sales deed should have the total plot area, identification number, details of construction, the exact location and surroundings. The property schedule must be incorporated in the sale deed to define the accurate location of the property.
Execution of the sale deed is technically the concluding part of property-purchase process. After a buyer and a seller reach an agreement, they first execute an agreement to sell, a document that sets the terms and conditions based on which the future transaction will take place. The creation of the agreement to sell means terms have been placed for the transaction while the creation of sale deed means the purchase has completed. As mentioned in the agreement to sell, the two parties have to conclude the sale within a set period after executing the agreement to sell.