Joint development Agreement will execute.
If land owner & land developer are same with different proportion then which type of agreement is need to do allocation of developed residential/ commercial area & handle statutory compliance?
Provide required Format of Agreement
Registered Sharing agreement has to be entered into between land owners/ developers for allocation of developed residential and commercial area
See you need to make an agreement of joint development and sharing to decide the share and register same before the sub -registrar office. The particular share and authority in same can be decided and a Power of attorney for same can also be given for sale and statutory compliance.
These kinds of drafts are not ready made a valuable you need to engage services of an advocate to draft and register agreement as per your requirement.
1. it will be a development agreement where the owner will be a signatory in two different capacities - one as owner and another as developer
2. alternatively the owner can directly execute and register permanent alternate accommodation agreement with himself as allottee or in favour of his nominee or buyers
3. regarding your follow up query to provide the format - Sir, like really you want a format by paying a pittance of Rs. 500/- on this platform ??? Like really? Do you think lawyers are stupid that they will share their formats which they devised over long years of practice, just like that to anybody??? Kindly be thoughtful and then put your queries!
A development agreement as well a Deed of Conveyance should be done. Both should be duly registered at the Registrar office of the jurisdiction of the property. As well as competent authority permissions i.e. N.A. permission, etc will be required as annexures to the deed. The agreement needs to be drafted by an Advocate who can guide you accordingly to register the same.
If the land owner himself is developing the proeprty and is selling the property to the prospective buyers, there is no special agreement for this purpose.
The developer or the land owner shall be the seller and he can enter into the sale agreement as a seller following the regular rules and procedures in this regard as applicable for this agreement of sale.
The format for sale agreement will be available with the local document writer or you may engage the services of an advocate to provide the proper legal format.
You can go for redevelopment agreement and depends upon area in which location the old building is located. So it can be redevelop into commercial or residential.
Then he needs to comply with the statuory authorities with a proposal to develop the property. Agreement cannot be with single party you need atleast 2 parties to it.