For each real estate development project, several permits must be acquired and different laws, rules and regulations must be respected. It is important that the agreement mentions which party is responsible for obtaining the necessary authorizations. In such a joint venture, it is usually the contracting authority that acquires all the necessary authorizations. Any other way to preserve the interests of the owner of the country, so that the client (after signing a mandate from our landowner) will definitively give our share of the housing built. My question is that since the client has breached the contract, can I revoke the power of attorney given to him and otherwise carry out the future work on someone (another client interested in carrying out the work in progress)? If so, do I have to go to a district court and get an order from them? In this case, do I also need to obtain a certificate of no objection from the first contracting authority? Signed and delivered by ……….. The owner Now you have to ask yourself why it is imp to register JDA. At the macro level, neither the developer nor the landowners can challenge the terms of the registered JDA. Second, it gives the agreement authenticity. In one case, I found that there were 23 corrections in the Joint Development Agreement. It was almost impossible for the buyer to know if the corrections were real or not. On the other hand, if the joint development agreement is registered, the buyer can request a certified copy directly from the sub-registrar`s office.
Finally, please note that banks like SBI, etc., do not offer home credit if the JDA is not registered at the sub-registrar`s office. There may be other reasons. The client promises a mortgage from 2nd rung Housing Finance Companies. In some cases, the granting of the housing loan is subject to conditions. Recently, one of the banks sent a message to the buyers of Project A in Pune to close the mortgage within 60 days. The reason for this is a dispute between landowners. Unfortunately, the joint development agreement is not registered and one of the landowners has fraudulently mortgaged the country. A joint venture agreement between the landowner and the developer`s format includes these mandatory inclusions. Where the first party is the owner of the land, the ………….. by storing the land n° ……..
Municipal inquiry n° ………… Khasra No. ……………… be situated, situated and be at ……………. Tahsil and district …………. (hereinafter referred to as `the land in question`) and endeavours to build a house on the said land. and while the first party appointed Shri……….. since the architect and the architect have prepared the plans, drawings and records of the house in question and the specification of the work to be carried out and the materials.
What is the recourse available to developers in case of violation of the JDA By the owner The words « joint venture » are described as « an activity of two or more people or companies working together ». Often, a person may own land, but may have no way to fully exploit it. In the same way, a client/developer who owns resources may need a bit of land to use their resource profitably. Vertical land development, which consists of a number of dwellings, requires a lot of money, manpower and expertise that an individual cannot own. In addition, unlike the construction of an independent house, the group apartment or the construction of apartments is more complicated. It requires permission from different authorities such as water supply committee, sanitary service, power supply committee, airport authorities, environmental protection agency, survey service, telephone service, etc. The group residence project must also be subject to a much more rigorous compliance with the procedure for obtaining project loans by banks.