Validity of sale agreement

In order for any agreement to be deemed legally binding, it must include consideration on the part of every person or company that enters the contract. In your case the sale agreement cannot enforceable. Send a legal notice for consideration. 

Thanks a lot, Sir. May I make it clearer please:

i. Is the agreement not enforceable even if the cheque was bounced on accout of mis-spelt name only? If the purchase don't send new cheque in a week or so (because I need money urgently), can I cancel the agreement? If yes, how?

ii. If purchase pays the advance of Rs.2,00,000, but fails to get the property registered within stipulated time period (2 months + 6 months), would the agreement be stand cancelled after that period automatically? Or what would be the validity peiod in terms of the clause given in my first post?

Thanks and regards.

As rightly pointed by Mr Rachakonda no contract takes place without consideration. Immovable property needs to be registered in 4 months not 2 + 6 months. Even if it is not registered it has no bearing on agreement to sell. If it is by what is generally understood as agreememt to sell then it expires when you hand over the keys. If agreement separately mentions that it needs to be registered in given time then its another matter.