Hi Nimesh, a sale agreement stipulates the conditions under which the sale deed is to be later executed. It is a way of formalizing the discussion between the seller and the buyer. In the absence of a sale agreement, there have been instances where either the buyer or the seller has backed out of the transaction causing loss of both money and time!
Hence it is advisable to have a sale agreement signed and duly registered. A sale agreement that is not registered has no legal validity and this defeats the very purpose of signing the agreement in the first place.