A Partnership Deed For Real Estate Business is essential when two or more individuals or entities decide to join forces to conduct real estate business operations in India. This document is particularly crucial in the Indian context where real estate partnerships must comply with multiple regulatory frameworks, including the Indian Partnership Act, 1932, and RERA 2016. The deed serves as the founding document that governs the relationship between partners, establishing their rights, responsibilities, and liabilities. It covers crucial aspects such as capital contribution, profit-sharing ratios, management rights, property acquisition procedures, and compliance requirements. This type of agreement is commonly used when establishing new real estate development firms, property management companies, or real estate investment partnerships. The document must be properly executed and registered under Indian law to ensure legal validity and enforceability.
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1. Parties: Details of all partners including names, ages, addresses, and occupation
2. Background: Context of the partnership formation and brief description of the intended real estate business
3. Definitions: Key terms used in the deed including Property, Project, RERA, Net Profit, etc.
4. Partnership Name and Business: Official name of the partnership firm and detailed scope of real estate business activities
5. Term and Commencement: Duration of partnership and effective date of commencement
6. Principal Place of Business: Address of main office and provisions for branch offices
7. Capital Contribution: Initial capital contribution by each partner and terms for additional contributions
8. Profit and Loss Sharing: Ratio and terms of profit and loss distribution among partners
9. Banking Operations: Bank account details and operation procedures
10. Management and Decision Making: Partners' roles, responsibilities, and decision-making process
11. Property Acquisition and Disposal: Procedures for acquiring, developing, and selling real estate properties
12. Accounting and Auditing: Financial record-keeping requirements and audit procedures
13. RERA Compliance: Obligations and procedures for RERA compliance
14. Partner's Rights and Obligations: Detailed rights and duties of all partners
15. Retirement and Admission: Process for partner retirement and admission of new partners
16. Dissolution and Winding Up: Circumstances and procedures for partnership dissolution
17. Governing Law and Jurisdiction: Applicable laws and jurisdiction for dispute resolution
18. Notices: Process for sending and receiving official communications
1. Non-Compete and Confidentiality: Restrictions on partners engaging in competing business and confidentiality obligations
2. Insurance: Requirements for maintaining various types of insurance
3. Intellectual Property Rights: Ownership and usage of partnership's intellectual property
4. Force Majeure: Provisions for unforeseen circumstances affecting business operations
5. Corporate Social Responsibility: Optional commitments to social and environmental responsibilities
6. Digital Operations: Provisions for online business operations and digital marketing
7. International Operations: Terms for potential international real estate dealings
1. Schedule A - Capital Contribution Details: Detailed breakdown of initial capital contribution by each partner
2. Schedule B - Property Portfolio: List of properties currently owned or under development
3. Schedule C - Profit Sharing Mechanism: Detailed calculation method for profit sharing
4. Schedule D - Management Structure: Detailed organizational structure and management responsibilities
5. Schedule E - Bank Account Details: List of authorized bank accounts and signatories
6. Appendix 1 - Partner KYC Documents: Copies of partners' identification and address proofs
7. Appendix 2 - Business Licenses: Copies of relevant business licenses and registrations
8. Appendix 3 - RERA Certificates: Copies of RERA registrations and compliance certificates
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate Development
Property Management
Construction
Architecture and Design
Property Investment
Urban Planning
Infrastructure Development
Commercial Property
Residential Property
Industrial Property
Relevant Teams
Legal
Compliance
Finance
Operations
Project Management
Business Development
Risk Management
Property Management
Construction Management
Investment
Corporate Governance
Administrative
Relevant Roles
Real Estate Developer
Property Manager
Managing Partner
Business Development Manager
Project Director
Legal Counsel
Compliance Officer
Finance Director
Operations Manager
Construction Manager
Investment Manager
Asset Manager
Company Secretary
Chief Executive Officer
Chief Financial Officer
Risk Manager
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