Joint development agreement

RajaRajachozhan (Querist) 08 November 2014 This query is : Resolved
The owner of a land has entered into an Agreement with a Builder for development of the property - to construct multi storeyed apartment on joint venture basis. They enter into a Joint Venture Agreement.
Query 1. Whether the deed of Agreement has to be Registered ?
Query 2. If not Registered what are the legal complications that the buyer of the apartment may face?

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Devajyoti Barman (Expert) 08 November 2014
1. Yes at least in WB.
2. Buyer does not face much problem as long as both builder and the landowner join the sale agreement and sale deed.

ADV-JEEVAN PATIL, MUMBAI (Expert) 09 November 2014
1) Yes
2) In dispute both neither party institute valid suit

Rajendra K Goyal (Expert) 09 November 2014
1. The agreement need to be registered.
2. Agree with Expert Devajyoti Barman on the advise.

T. Kalaiselvan, Advocate (Expert) 13 November 2014
Registration of joint venture agreement is the mutual decision but any GPA on such joint venture for selling or transacting with the property in any manner to be registered or else it will lose its legal validity.

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Joint development agreement

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