Hello,
I suggest you to register the development agreement. However once you hand over your plot for development you cannot sale it directly.
Regards
I want to get into an agreement with a developer to develop 14 Acres of my farm land into saleable residential plots with an offer of providing 1/8 of plots to developer as his share for development . Can an agreement done on a non judicial stamp paper of Rs 1000 signed in the presence of a notary will be valid? Can this agreement transfer all the legal liabilities to the developer if he violates any rule or law of Government related to the development of the property?
If the developer does not take RERA registration will he alone be liable for violating the law?
Can the landlord retain the power of registering the plots directly to the buyers and transfer 1/8 of the sale consideration to the developer as agreed in the agreement?
Hello,
I suggest you to register the development agreement. However once you hand over your plot for development you cannot sale it directly.
Regards
1 envelopment agreement of this nature requires registration on compulsory basis t create complete rigts and obligations between the parties.
2. If the construction is yet to be started then taking RERA registration has become mandatory.
3.The landowner can retain the power to register property directly to the buyers without making the developer party to the deed provided the property he is going to sell falls in the share/allotment of the landowner.
Development agreement should be duly stamped and registered
2) don’t enter into mere notarised development agreement
An agreement between the landlord and Developers should have to be made on a rupees 100 stamp paper narrating all the conditions of the agreement to be fulfilled by landlord and developer in this regard this agreement is binding to both the parties for their required actions this should be notarized and registered after payment of minimum stamp duty in this case so that it can be enforced by the law if required
It's better to register the development agreement for more authencity. You can compel him to register by filing suit of specific performance.
See it would be better if the agreement is registered for the joint development and stamp duty is paid. In the case it would be better to register the agreement.
The developer is responsible for the RERA registration he has to take same and he shall be responsible.
Yes the land owner can register the plots and pay the agreed consideration or a sharing agreement can be made.
It can be execute on 500rs stamp attested by 2 witnesses and notorised, Builder and land owner both will responsible until builder not agree in agreement of his sole responsibility to get register with RERA and liable for any violation.
NO, you have to execute POA in his favor to authorize him to register sale deed.
1. No, you are required to register such agreements in order to make it a valid and effective agreement
It is advisable to get this joint development agreement by a registered document so that it would become enforceable in court of law.
An unregistered agreement is not enforceable in court, hence you may not run a risk on that count.
Let the registration and stamp duty may cost you anything, you both can share that expenses so that all other conditions cane be enforced in case of breach of contract by the developer in future
The developer has to register with the RERA which has become mandatory now a days. you may insist on this, if he is not responding then your may withdraw yor decision from entering into the agreement because it may cause you problems at a later stage while you intend to sell your share of flats.
Generally the landlord will be having powers to sell the flats allotted to him and the builder will be possessing power of attorney to sell the flats allotted to him, directly, hence all such conditions will be entered in the agreement between them.
Dear Client
You should make a registered agreement with developer to transfer the rights and liabilities regarding land development. A notarized agreement will not be enough.
The registration of project with RERA is mandatory because you are selling residential plots. And it depends on the agreement that who will be liable for not registration of project with RERA.
Yes a landlord can retain the power to registering the land directly But it should also be mentioned in the agreement.