A Joint Development Agreement Between Landowner And Builder is a crucial document in Indian real estate development that facilitates collaboration between property owners and developers. This agreement type is commonly used when a landowner wishes to develop their property but lacks the expertise or resources to do so independently. The document is governed by Indian law and must comply with various regulations including RERA 2016, state-specific real estate laws, and local building codes. It typically includes detailed provisions for property sharing, construction specifications, timelines, quality standards, and dispute resolution mechanisms. The agreement is particularly relevant in urban areas where land values are high and development potential is significant. It requires mandatory registration under the Registration Act, 1908, and proper stamp duty payment as per state regulations to ensure legal validity and enforceability.
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1. Parties: Details of the landowner and builder/developer, including registration details and addresses
2. Background: Context of the agreement, including property details and development intention
3. Definitions: Definitions of key terms used throughout the agreement
4. Project Description: Detailed description of the development project, including type of construction and basic specifications
5. Rights and Obligations of the Landowner: Comprehensive list of landowner's responsibilities, including clear title guarantee and cooperation requirements
6. Rights and Obligations of the Developer: Detailed developer responsibilities including construction quality, timelines, and compliance requirements
7. Sharing Ratio and Area Allocation: Specific details of how the developed property will be shared between parties
8. Timeline and Milestones: Construction schedule, completion dates, and milestone requirements
9. Permissions and Approvals: Responsibility for obtaining various governmental and regulatory approvals
10. Construction Standards: Quality standards, specifications, and compliance requirements for construction
11. Financial Terms: Details of cost sharing, if any, and financial obligations of both parties
12. Representations and Warranties: Standard and specific warranties from both parties
13. Default and Remedies: Consequences of default and available remedies to parties
14. Termination: Grounds and procedure for termination of the agreement
15. Dispute Resolution: Mechanism for resolving disputes between parties
16. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
17. Notices: Process and addresses for serving notices under the agreement
1. Force Majeure: Provisions for handling unforeseen circumstances preventing performance, particularly relevant in long-term development projects
2. Assignment: Rights and restrictions regarding transfer of rights under the agreement, include if assignment possibilities are anticipated
3. Insurance: Insurance requirements and obligations, particularly relevant for high-value developments
4. Environmental Compliance: Specific environmental obligations and compliance requirements, necessary for environmentally sensitive areas
5. Marketing Rights: Rights and restrictions regarding marketing of the project, relevant for commercial developments
6. Maintenance and Management: Post-completion maintenance responsibilities, relevant for ongoing relationships
7. Third Party Rights: Provisions regarding rights of third parties, relevant if external stakeholders are involved
8. Confidentiality: Provisions for maintaining confidentiality of sensitive information, relevant for high-profile developments
1. Property Details: Detailed description of land including survey numbers, boundaries, and encumbrances
2. Construction Specifications: Detailed technical specifications of the proposed construction
3. Floor Plans and Designs: Architectural plans, layouts, and designs of the proposed development
4. Share Distribution Plan: Detailed plan showing division of built-up area between parties
5. Construction Timeline: Detailed phase-wise construction schedule with milestones
6. List of Approvals: Comprehensive list of required governmental and regulatory approvals
7. Title Documents: Copies of land ownership documents and title clearance certificates
8. Payment Schedule: Details of any payments or cost sharing arrangements between parties
9. Power of Attorney: Format of power of attorney to be executed in favor of developer
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