Property development projects where the owner and the developer are not the same require a large amount of confidence on the part of both parties that the other will act as agreed. Formal property development agreements ensure both parties can be held to account throughout the project and can help minimise disagreement over terms agreed at the outset.
Property development agreements
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.
This document addresses formalization of relationship between an owner of the property and a developer who purchases the property from the owner for the purpose of developing the same into apartments and flats by demolishing the existing buildings or structures on the Property and constructing new buildings thereon on Flat Ownership basis.
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