Joint development
Chids
(Querist) 10 January 2012
This query is : Resolved
I have a land in a prime location, and planning to enter a Joint Development agreement with a builder for construction of an Apartment. My query is What are the complete procedures in this process, right from entering into an agreement till the completion of the building. Are there any loop holes in this process which i should be aware off. We are planning for a 60:40 builder:owner ration respectively.
M.Sheik Mohammed Ali
(Expert) 10 January 2012
best thing engage a lawyer, he will complete your agreement.
Chids
(Querist) 10 January 2012
Definitely will consult a Lawyer, however looking forward for any tips on this subject and any possible loop holes prevailing.
Sankaranarayanan
(Expert) 10 January 2012
Hope u have plan to start a firm and do the work so u r offered to pay some legal fee for get idea from legal professional
ajay sethi
(Expert) 10 January 2012
you have property in prime area . you wan to enter joint development agreement .
you will earn in crores . let lawyers also earn some fees .
Devajyoti Barman
(Expert) 10 January 2012
The most important thing in this is to make a good Joint Development Agreement.
Do engage an expert in this to make a good agreement containing all the right terms and conditions.
prabhakar singh
(Expert) 10 January 2012
The wisdom demands that you engage a lawyer personally for you has builders have their own so that agreement does not get drafted one sided.
Advocate. Arunagiri
(Expert) 10 January 2012
It is a lengthy process. Involves different transactions. You can learn from the builder himself. They will guide you. Learn from them and then take the help of the advocate while entering the contract.
Raj Kumar Makkad
(Expert) 11 January 2012
Tips cannot be given on this open public platform. You engage either of us or any outsider lawyer having experience in such field and obtain his professional services.
Deepak Nair
(Expert) 11 January 2012
The experts have rightly opined.
Chids
(Querist) 11 January 2012
Thank you all for your opinions, i am getting inline with an expert lawyer for the further process. however is it possible to get a copy of Joint Development Agreement format online. My intention here is to go prepared to the lawyer with as much as information available!
Thanks in advance
Shashikant V. Patil
(Expert) 12 January 2012
Its not a tedius but a hectic starts from measuring the land which you are developing for apartment, make a lay out, apply for Non agricultual use for which you have to obtain various NOCs from various depts and for this you have to collect various land records and go for execution of documents you wish. Best of luck.
