Collaboration agreement
Nishant Singh
(Querist) 22 March 2013
This query is : Resolved
dear experts, a warm good evening to all of you. my cleint is the owner of a flat at first floor in a property and is also owner of 1/3 share in the property as the property contains three flats i.e ground first and second. now are entering into a collaboration agreement with a builder who, as per the present law, can make four stroreys. the builder has agreed to give 1/3 of the roof rights. now my questions are:
1. whether a registered sale deed would be made for the roof rights as i am going to retain first floor again after reconstruction of the building of he same area.
2. what will be the status of the 1/3 ownership in my occupation as per my sale deed.
Devajyoti Barman
(Expert) 23 March 2013
1. No separate deed is to be registered for roof right. It can be mentioned in the Joint Development Agreement
2. Draft the agreement accordingly.
Raj Kumar Makkad
(Expert) 23 March 2013
Separate sale deed is not required for that purpose rather a joint agreement shall have to be got registered which shall provide the ownership rights as agreed to.
M V Gupta
(Expert) 26 March 2013
I agree with the above views.
Anirudh
(Expert) 26 March 2013
The collaboration agreement which you are telling is not very clear.
Do you mean to say while the existing building with three floors (ground, first and second) would remain as it is, then the builder will build the third floor and allow 1/3rd roof right each to the existing flat owners?
Is that the agreement that you are talking about? Or anything much more than this.
