Plot Development Agreement
20.1. Without the prior written consent of the tenant, the owner may not enter into an agreement affecting the property and construction, development, management and operation. Once the property details have been listed, the landowner and developer should decide what the profit-sharing ratio would be. Construction costs are usually around the 2000 to 3000 rule per square foot. This means that in areas where land is expensive, a profit-sharing ratio of 50:50 or more can be accepted in favor of the owner. On the other hand, if the land is located far from the city center, in a remote neighborhood, the developers` share could increase if construction costs represent a larger share of the total market value of the project. (h) It is expressly agreed by and between the parties that, if certain obligations are to be performed/assumed by either party, the period is at the heart of this Agreement, unless the period is extended in writing by mutual agreement of the parties. You should enter into a registered agreement with the developer to transfer the rights and commitments relating to the development of the land. A notarized agreement will not be enough.
It can be executed at 500rs, which has been confirmed and notorized by 2 witnesses, both the contracting authority and the landowner are responsible until the contracting authority does not agree, in accordance with its sole responsibility, to register with RERA and hold liable for any infringement. Please indicate what documents will be required by the owner selling his floor after the conclusion of the development contract with the developer. It is best to save the development agreement for more authenticity. You can force him to register by taking legal action against certain benefits….