Joint development agreement document
Querist :
Anonymous
(Querist) 03 February 2019
This query is : Resolved
Hi sir,
I'm purchasing a flat , under development, and its a joint venture.
I have a copy where there is agreement written that my flat falls under land owners share and that is stamped and signatured by developer company.
As well as, in sale agreement, all the consent parties have signed, 1. developer, 2. land owner,3. me.
My home loan lender bank asking Supplementary development agreement regarding allocation.
Is it really required that document?
I'm not getting what should I do.
Dr J C Vashista
(Expert) 04 February 2019
You will have to satisfy the money-lender.
Guest
(Expert) 04 February 2019
If you are not comfortable with this Bank switch over to other Banks.In february and march the banks would have surplus which they prefer to distribute to good borrowers.
Querist :
Anonymous
(Querist) 04 February 2019
Thank you sir for reply.
Actually I'm not getting still I need the supplementary joint development agreement or not? As I have agreement with all the consent parties sign.
You are expert people can advise me that if the paper is critical, without that, I wouldn't get loan from any bank. Or if that paper is not so critical, then I can change bank and try in another.
Guest
(Expert) 04 February 2019
" Supplementary joint development agreement " would be the initial agreement made between the land owner and the builder. The concerned Builder would be the Right Person to help you on this
Querist :
Anonymous
(Querist) 04 February 2019
So, is this a critical paper without which no reputed bank will give loan? As per suggestions, I can change bank but if without this paper no bank gives loan, then that would be my time waste as well as money waste because every bank will deduct processing fee.
The builder gave me a letter head declaration with stamp signature that my flat falls under land owner. Still I need registered agreement? I'm sure the builder don't have that.
Guest
(Expert) 04 February 2019
In many places the Builder him self would arrange for the Loan . Your other flat owners also would have availed Loan discuss with them also
