Agreement Between Landowner And Promoter

1 12 2020

A certain percentage of the built area is made available to the owner. Typically, it receives a 30-40% share of the overall result. In the case of the distribution of revenue from the built-up area, the developer is responsible for developing the land in collaboration with the landowner and selling or leasing the built land to third-party buyers/tenants and sharing the proceeds in an agreed report. The owner is allowed to either cede the built area or to retain the share of its built-up area or to sell it at a later date. The rest of the part, that is, the dwellings, are sold by the owner according to his interests by a separate contract with the potential owner on his own and not on the basis of the owner of the GPA. The JDA, even registered with the Lower Office, should not be confused as transport or deed of sale of a dwelling for the benefit of the owner of the land. Recently, one of my clients purchased land from landowners, based solely on the basis of the JDA registered between the owner and the landowner. The buyer was consulted on the fact that JDA is an act of transportation in favour of the landowner. After 3 months, they inquire about the fact that the same property is sold by the owner to another buyer.

The reason was that the owner entrusted the owner with the marketing rights to her apartment. And the developer has entered into a standard agreement with an architect registered with the Council of Architects, and this agreement is in accordance with the agreement prescribed by the Council of Architects. Considering that the developer has appointed a “statistician for the construction of the structure and designs of the buildings” and that the developer provides professional supervision of the architect and statistician until the completion of the building or buildings. The owner has the plan developed by an architect taking into account the requirements of the landowner. Once the plan is completed and approved by the landowner, this will be subject to government approval. All procedures, formalities and authorisation fees are covered by the contractor. Once the plans have been submitted and approved, the owner takes possession of the land by the owner. At this point, the balance of the refundable advance is paid to the landowner. After receiving permission from the competent authority, the owner begins construction and publicly informs the availability of the units for sale.

Let me make it clear that I believe here, through registration, that the joint development contract between the owner and the landowner should be placed on the sub-register. One of the most common practices is to certify notarial or sign the Joint Development Agreement (JDA) on the Rs 200/-. stamp. The same agreement is submitted to the potential buyer in the form of a registered joint development agreement. It`s not fair. Depending on the price of the land, the common development relationship between the parties is established. In most cases, the owner will agree to grant the owner a few apartments and pay a symbolic advance. It is possible that the owner of the land will separate with part of the undivided land (UDS) for the benefit of the owner or his candidate and also allow the owner to build and sell the agreed number of dwellings. The developer has the right to ask the individual to set the sale prices for his share of the dwellings.

In addition, there is a notarial (unregord) division contract that mentions which dwelling belongs to the owner and which dwelling belongs to which owner. A common development agreement generally contains the intention of the parties: the country, obtaining funds, the timing of the project`s completion, the distribution of land/housing developed between the landowner and the owner, the obligation for the developer to comply with the legal requirements, the cost of obtaining legal approvals from the competent authority, the search for potential buyers, common spaces and facilities available for the percentage of interest unavailable for the common spaces and facilities that are available to each owner;