Dear co-professionals,I have a querty for your valuable advice please.
The land is allotted to a Company by Governement for Industrial purpose. The Company has exeuted a development agreement another firm (Developer) and the same is registered and in terms of which 75% of built up area goes to the Developer & 25% to land lord (Co). There is a supplementary Development agreement, which is not registered, mentioning which part of constructed part will go to whom.
Now, the Developers wants to lease a part of his share to the prospective tenant calling himself as the owner for his share by mentioning about registered Development agreement & unregistered supplementary Development agreement.
Is it alight for the prospective tanant to go for lease without involving the land lord (Co) based on the registered development agreement and supplementary thereof?
What is the best course to be followed in this situation. Your valuable inputs would be highly regarded please.
