About this document:
The system of apartment ownership has given rise to another document called Development Agreement. Instant document addresses formalization of relationship between a Developer, who enters into an agreement and the owner for development of the property and to build apartments. Compliance with various land laws and regulations is a complicated exercise, which we have taken care of in the drafting of the agreement.
Who will use this document?
A developer or builder (both the words have he same meaning) who enters into an agreement with the owner of a land, which is capable of development;
Any owner of a land, who wants to entrust the development of his property to a developer.
Key features:
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all usual basic provisions to protect your interest;
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explanatory notes to cover every issue including need for stamp duty and registration;
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flexible to suit peculiar situations;
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addresses commercial and/or residential nature of development of property;
These documents include provisions for:
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compliance with existing rent laws;
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payment of consideration amount;
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payment of costs of development- responsibilities clearly defined;
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list of prohibited activities;
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termination and after;
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Relationship of parties;
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Work Obligations;
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dispute resolution;
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Rights and duties of the parties
