The Owners of a house property handed over the property for development under 50/50 sharing terms, by execution of a registered JDA and also extended a registered power of Attorney in favour of Developer.
The project is completed and the Developer has sold out his share to external buyers, but not handing over the share of the land owners with a plea that the owners are entitled for 2 Garages measuring 144 Sq ft super built and thus they got beyond their entitlement of 288 Sq ft super built up for 2 garages and thus they need to pay compensation of approx. ₹ 10 lakhs, without which the builder will not hand over possession nor give the original documents or other documents to the landowners.
We the landowners was convinced by the developers advocate that the owners and the developer are entitled for equal share, but now the advocate is also talking in line with the developer.
I am furnishing below the excerpts of agreement portion in this relation for kind opinion as to our entitlement. We wonder as to whether, as per terms of JDA, we are not entitled for 50 % of the constructed ground floor or the contention of the Developer is correct.
EXCERPTS:
Under Owner's allocation in Page 4 against point No.3 of the registered JDA, it is stated as under:
That on construction of the multistoried building in the manner as stated hereinabove with qualitative materials the landowners shall jointly entitled to get as follows:
a) Owners will get 50 % of the entire sanctioned plan or constructed only.
b) The Owners will get the entire area of Second and Third floor and two Car Parking Spaces/ Garages measuring about 144 square feet Super Built-up area each which is within the Owner's allocation.
Again, Under Developer's allocation in page 9 against point No. 27 of the registered JDA it is stated as under:
After completion of the building if the measurement of the Flat, Garage or Unit found excess, the the Owner's shall compensate the Developer at the rate of prevailing market value and similarly if the measurement is less then 50 % of the Owner's allocation, the Developer shall compensate or adjust the amount accordingly.
Based on the excerpts of agreement as reproduced above, we the landowners seek kind expert opinion as to whether we are entitled for garage Spaces upto 50% of the constructed area, or our entitlement is only 288 Sq ft built up area, as contended by Developer, beyond which we need to compensate the Developer.
