Joint Development Agreement

JOINT DEVELOPMENT AGREEMENT
THIS DEED OF JOINT DEVELOPMENT AGREEMENT is made and

executed on this the ____ day of January, Two Thousand Twenty [__-01-2020]
at Bangalore.
BY
1. Sri. M. RAJASHEKHARAIAH,
Aged about 59 Years,
S/o. Sri. Marulasiddaiah,
2. Smt. K.S. PUSHPALATHA,

W/o. Sri. M. Rajashekhariah,
3. Sri. R. CHETHAN KUMAR,

S/o. Sri. M. Rajashekhariah,
All are residing at No. 85,

13th Loop Road, Ideal Homes Town Ship,
Rajarajeshwari Nagar, Bangalore – 560 098.
[Hereinafter referred to as the OWNERS. The term OWNERS shall wherever the
context so requires or permits mean and include their heirs, executors,
administrators, legal representatives, assigns, etc.,] of the ONE PART.
BETWEEN
Sri. R. CHETHAN KUMAR,

S/o. Sri. M. Rajashekhariah,
Residing at No. 85,
13th Loop Road, Ideal Homes Town Ship,
Rajarajeshwari Nagar, Bangalore – 560 098.
[Hereinafter referred to as the DEVELOPER. The term DEVELOPER shall

wherever the context so requires or permits mean and include their respective
heirs, executors, legal representatives, administrators, assigns, etc., ] of the
SECOND PART.
WITNESSES AS FOLLOWS:
Whereas, Item No.1 the agricultural land bearing Old Sy. No. 176/P28, Block
No. 26, New Sy. No. 258 measuring 00-18 Guntas, situated at Solur Village, Solur
Hobli, Magadi Taluk, is Sri. M. Rajashekharaiah (Owner No.1 herein) Self Acquired
Property, having purchased from (1) Sri. Thimmaraye, (2) Smt. Devamma, (3) Sri.
Girish, (4) Abhishek, (5) Manjunath, Abhishek & Manjunath Minors represented by
their Minors Guardian & Father Sri. Girish under a Registered Sale Deed, which is
registered as Document No. MGD-1-00005-2010-11, of Book-I, Stored in C.D. No.
MGDD69, dated : 01-04-2010, in the Office of the Sub-Registrar, Magadi, for a valuable
sale consideration. Ever since from that date, Sri. M. Rajashekhariah is in peaceful
possession and enjoyment of the same.
Whereas, Item No.2 the agricultural land bearing Sy. No. 243 measuring 00-26
Guntas, situated at Solur Village, Solur Hobli, Magadi Taluk, is Sri. M.
Rajashekharaiah (Owner No. 1 herein) Self Acquired Property, having purchased from
Sri. Dayananda under a Registered Sale Deed, which is registered as Document No.
MGD-1-05535-2011-12, of Book-I, Stored in C.D. No. MGDD133, dated : 13-03-2012,
in the Office of the Sub-Registrar, Magadi, for a valuable sale consideration. Ever since
from that date, Sri. M. Rajashekhariah is in peaceful possession and enjoyment of the
same.
Acres 04 Guntas, situated at Solur Village, Solur Hobli, Magadi Taluk, is Smt. K.S.
Pushpalatha (Owner No. 2 herein) Self Acquired Property, having purchased from Sri.
Dayananda under a Registered Sale Deed, which is registered as Document No. MGD-
1-05543-2011-12, of Book-I, Stored in C.D. No. MGDD133, dated : 13-03-2012, in the
Office of the Sub-Registrar, Magadi, for a valuable sale consideration. Ever since from
that date, Smt. K.S. Pushpalatha is in peaceful possession and enjoyment of the same.
Guntas, situated at Solur Village, Solur Hobli, Magadi Taluk, is Sri. R. Chethan
Kumar (Owner No. 3 herein) Self Acquired Property, having purchased from Sri.
that date, Sri. R. Chethan Kumar is in peaceful possession and enjoyment of the same.
Guntas, situated at Solur Village, Solur Hobli, Magadi Taluk, is Sri. R. Chethan
Kumar (Owner No. 3 herein) Self Acquired Property, having purchased from Sri.
that date, Sri. R. Chethan Kumar is in peaceful possession and enjoyment of the same.
Guntas, 00-03 Guntas Kharab totally 00-29 Guntas situated at Solur Village, Solur
Hobli, Magadi Taluk, is Sri. R. Chethan Kumar (Owner No. 3 herein) Self Acquired
Property, having purchased from Sri. Dayananda under a Registered Sale Deed, which
is registered as Document No. MGD-1-05539-2011-12, of Book-I, Stored in C.D. No.
MGDD133, dated : 13-03-2012, in the Office of the Sub-Registrar, Magadi, for a
valuable sale consideration. Ever since from that date, Sri. R. Chethan Kumar is in
peaceful possession and enjoyment of the same.
Guntas, 00-01 Gunta Kharab totally 00-15 Guntas situated at Solur Village, Solur
peaceful possession and enjoyment of the same (which is more fully and particularly
described in the Schedule hereunder, hereinafter referred to as the ‘SCHEDULE
PROPERTY').
AND WHEREAS, in the manner stated supra, the OWNERS herein

became the absolute owners of the aforesaid property, paying the property taxes
inter-alia exercising all acts of dominion and ownership in and over the same
without any claim, objection or hindrance from any one whomsoever and have
been in un-interpreted possession and enjoyment of the said property as absolute
owners. Being the absolute owner of the schedule property, the owners is lawfully
entitled to deal with the same in any manner, as they likes.
Whereas, the Owners being desirous of developing the Schedule property

negotiated with the Developer herein, who possess requisite skill, knowledge,
experience, expertise, infrastructure in forming and development of layouts and all
other incidental and related matters thereto and in this regard along with land
owner have prepared a development scheme for the formation of a residential
layout carved out of the above lands after obtaining the requisite approval from the
concerned Planning Authority, clearly identifying the Residential Sites, Park and
Civic amenity Area, who has assured to comply with the terms and conditions of
this agreement and within the time frame stipulated herein.
WHEREAS, THE OWNERS HAVE REPRESENTED TO THE

DEVELOPER AS UNDER:
a) That the Owners are the absolute owners of the Schedule property and
that their title thereto is good, marketable and subsisting and none other
has any right, title and interest or share therein.
b) That the Schedule Property is not subject to any encumbrances,

attachment of courts or acquisition proceedings or charges of any kind.
c) That the Owners have not entered into any agreement or arrangement
for sale or transfer of the schedule property with anyone else.
d) That there is no impediment for the owners to acquire or hold or to sell

the schedule property under any law.
e) That the Schedule Property is in personal possession and enjoyment of

the Owners.
f) That the Owners have paid all taxes, cessess and other charges up to this
date with respect to the schedule property.
Whereas, based on the aforesaid representations of the Owners, the Developer
have agreed to develop the Schedule property entirely at their cost and expenses
into a residential housing project and agreed to deliver 50% [Fifty Percent] of the
total developed site area to the owners and in consideration thereof, the Developer
would retain the balance 50% [Fifty Percent] of the total developed area for
themselves or their nominees and the owner have agreed to convey to the
Developer or their nominees an undivided 50% [Fifty Percent] share in the total
developed area in the schedule properties.
SECURITY DEPOSIT:
The Developer have agreed to pay a sum of Rs. _________/- [Rupees

________________________________ Only] in the following manner : -
[a] Rs. _________/- (Rupees ________________ Only) by way of Cash on

_________, paid to Owners herein, in the presence of the attested witnesses and
the owners have confirmed and acknowledges for having received the total
security deposit amount of Rs. __________/- (Rupees
_____________________________ Only); as interest free refundable security
deposit, the receipt of which the owner do hereby admit and acknowledge.
[b] And the developer agree to pay Rs. ___________/- (Rupees _____________
Only) shall be paid before ___ (____) months from the date of this Agreement,
and
[c] And it is agree to paid the Remaining amount of Rs. ___________/- (Rupees
___________________ Only) shall be paid after starting the construction work.
The said refundable security deposit is paid by the Developer for the due
performance of their part of the contract under this agreement and the same shall
be refunded to the Developer at the time of Developer delivering the possession of
the owner’s share to the owners or their nominee/s after completing the
development work.
Whereas, the parties hereto have agreed to reduce into writing the terms and
conditions of the agreement entered into between them for the development of the
Schedule Property.
NOW THEREFORE THIS AGREEMENT WITNESSES AS FOLLOWS:
I That in pursuance of the foregoing and subject to the mutual obligations

undertaken by the Owners and Developer under this Agreement, the
Owners and the Developer hereby agree to develop, all that piece and
parcel of the morefully set out in the schedules below and hereinafter
referred to as the SCHEDULE PROPERTY in the following manner:-
[a] The Developer shall develop the Schedule Property into residential layout
with necessary approval as per the terms and conditions of the jurisdictional
town Planning authority and statutory bodies. The Owners shall get the
schedule property converted from agricultural use to residential use from
the competent jurisdictional revenue authority.
[b] The Owners shall get necessary approval as per the terms and conditions of
the jurisdictional Town Planning Authority and statutory bodies to get
individual khathas to each site.
[c] The Developer shall develop and deliver to the Owner 50% [Fifty Percent]
of the total developed area in the said layout to be developed in the
schedule property, which is hereinafter referred to as Owner’s Developed
area.
[d] In consideration of the Developer delivering the owner developed area, the
Owners shall convey an undivided 50% [Fifty Percent] of share, right, title
and interest in the land comprised in the Schedule Property to the
Developer or their nominee/s.
PERMISSION FOR DEVELOPMENT:
a) The Owners hereby permit and authorise the Developer to enter upon the
Schedule property and to develop the Schedule Property into Residential
Layout.
b) The Owners shall not revoke the permission so granted, subject to due
compliance of the terms agreed by the Developer till completion of the
entire project as the agency created is one coupled with interest in so far as
the Developer will be incurring expenditure for development of the
residential layout in the Schedule Property, having been permitted to
develop by obtaining plan sanction, licensee etc.
c) The Owners hereby agree not to interfere or interpret in any manner

whatsoever in the course of development of housing project and/or commit
any act or omission having the effect of delaying or stopping the work that
has to be done under this Agreement.
PLAN / LICENSES :
a) The Owners shall prepared all the necessary residential purpose conversion
order, Plan Approval, Khata and tax paid for the development of residential
layout on the schedule property.
b) The responsibility of paying all taxes, rates, cessess and betterment charges,
Development charges, all the expenses for preparing and obtaining
necessary licenses and sanctioned plan etc., on the schedule property up to
the date of plan sanction shall be that of the Owners.
c) The Developer shall be entitled to modify the plan, if required by

jurisdictional Town Planning authority and statutory bodies or any such
planning Authority without materially altering the entitlement of the
Owners.
REPRESENTATIONS BY THE OWNER;
In addition to what is stated above, the Owners hereby declare that:
a) That the Owners are the sole and absolute owners of the schedule
property and that their title thereto is good, marketable and subsisting
and none other has any right, title and interest or share therein.
b) That the Schedule property is not subject to any encumbrances,

attachments, courts or acquisition proceedings or charges of any kind.
c) That the Owners have not entered into any agreements or arrangements
for sale or transfer of the Schedule Property.
d) No notice from Government or any other local body or authority or

under the land Acquisition Act or any other Act [Central or State]
otherwise or under any legislative enactment, the Owner has not
received government ordinals, order or notification [including any
notice for Acquisitions or requisition of the Schedule property].
e) That the Schedule property has not been attached in pursuance of the
any claim or decree or for recovery of Government or Municipal dues or
taxes.
f) That the Schedule Property is not subject to any lispendens or
attachments either before or after judgment.
g) That the owners have not apart from what is stated above, created any
charge, mortgage or encumbrance on Schedule property and have not
alienated, leased, transferred or created an other third party rights of
whatsoever nature in respect of the schedule property or any part thereof
and have not entered into agreement or arrangement to do the same and
during subsistence of this agreement, agree not to enter into any
agreement or arrangement in respect of the development rights are
granted by the Owner to Developer under this agreement.
h) The Developer have entered into this agreement on the basis of the
aforesaid representations of the owners. The Owners agree and
undertake to indemnify and keep indemnified the Developer against any
encumbrances or demands or claims if found to be existing or made
hereto before in respect of the Schedule Property and the Owners agree
also to clear and/or remove the same at their own costs and expenses
and ensure that there is no obstruction, interruptions or objections to the
Developer rights to carry on development of the schedule property and
to sell the developed sites corresponding to their share [i.e., 30%] to be
developed by them on the schedule property and in the event of there
being any stoppage of work or delay caused, the Developer shall be
entitled to a corresponding extension of the time for completion of the
project.
i) Take all necessary steps to obtain sanction to the housing plans by the
Bangalore Development Authority [BDA] or any jurisdictional planning
authority or from all such other statutory authorities, as may become
necessary from time to time.
OBLIGATION OF THE DEVELOPER:
The Developer shall on their own and at their own cost and expenses perform the
following, namely:-
a) Prepare and finalize the plans or any modification thereof and

applications required for the Development of the housing project of the
schedule property.
PERMISSIVE POSSESSION:
The Developer shall only be in permissive possession of the Schedule Property.
The Owners hereby permits the Developer to enter into the Schedule Property as
part of the contract granting the Developer or their nominees the right to develop
in terms of this agreement for development.
COMMENCEMENT OF DEVELOPMENTAL WORK AND AMENITIES:
The Developer shall commence the development work on this Schedule property
immediately after giving possession.
The Owners shall extend full co-operation to the Developer to complete the
development undertake by them. The Owners shall not create any impediments of
obstruction in the way of the Developer in developing.
COMPLETION OF THE PROJECT:
It is mutually agreed that the Developer shall complete the development in all
respects as per terms and conditions laid down by Bangalore Development
Authority [BDA] within ____ [____] years with grace period of __ [_____]
Months from the date of conversion of land and approval and ___% release order
of Residential Layout Plan from Bangalore Development Authority [BDA]. In
case of delay in completion of the project within that period for unforeseen reasons
like policy change from the government or any delay caused from the Owner
actions, the corresponding time can be extended further to complete the project at
the earliest.
However, the Developer shall be entitled to corresponding extension of time for

securing completion of the project due to any act of God or due to any act or
omission of the Owner having the effect of legally bringing a stop to the work
undertaken by the Developer not being caused due to the fault of the Developer.
The Developer shall intimate the owner on such eventuality and the estimated time
required as extension to complete the development.
AREA ENTITLEMENT:
a) In consideration of the Owners agreeing to transfer an undivided 50%

[Fifty percent] share of the developed area in the Schedule property to
the Developer or their nominee/s, the Developer agree to develop and
deliver to the Owner, free from all encumbrances and liabilities 50%
[Fifty percent] of the developed area [which includes housing site area
and common area etc.,] to be developed in the schedule property
[hereinafter together referred to as the “Owner Developed Area”] for the
absolute use, benefit, and ownership of the owner, the cost of
development of the Owner’s Developed area shall be borne by the
Developer.
b) The Developer shall develop the residential layout on converted land
and area entitlement shall be based on the land converted for residential
use.
c) The Developer shall intimate the Owner on the completion of the

development of the Schedule property.
EXECUTION OF DOCUMENTS:
The Owner shall execute all such papers and documents required for obtaining
power, water and sanitary connections from the Karnataka Power Transmission
corporation Limited, Bangalore Water Supply and Sewerage Board or such other
authorities forgetting permissions and sanctions for the effective development and
conclusion of the project. The Owner shall also arrange to provide any specific
document of title if asked by the RCDA or such authority and statutory bodies for
approvals and permissions.
PROCEDURE AND PROVISION REGARDING SELLING OF SITES BY

OWNER AND DEVELOPER:
1. The Owner and Developer shall enter into any sale transactions, offer
for sale, enter into negotiations or execute any documents in favour of
prospective purchasers of sites.
2. Developer shall enter into sale transactions with prospective purchasers

to an extent of 50% area [i.e., entitlement of Developer] of the
developed area in schedule property. At the same time the owner shall
execute a registered General Power of Attorney in favour of Developer
authorsing them to enter in to sale transactions and to execute registered
sale deed only to an extent of 50% area of Developer.
3. The Developer shall be entering into sale transactions with the

prospective purchasers in respect of 50% share in their individual
capacity. The owner shall not be personally a party to any of the
transactions or documents that would be entered into between
Developer and prospective purchasers of sites.
4. The Owners is entitled to enter into sale transactions in respect of 50%

developed area.
ASSIGNMENT OF DEVELOPMENT WORK:
The Developer are entitled to entrust/assign the development work to such

person/s or companies it deems fit, provided, however, that the Developer alone is
liable to fulfill the terms and conditions of this agreement.
CONSEQUENCES OF BREACH:
In the event of either party to this agreement committing breach, the aggrieved
party shall be entitled to enforce specific performance of this contract and recover
all costs, expenses and losses incurred by the aggrieved party as a consequence of
such breach from the party committing breach. In the event of there being any
dispute between the parties, the dispute shall be referred to an arbitrator appointed
by both the parties and the decision of the arbitrator shall be binding on both the
parties.
SCHEDULE PROPERTY
Item No. 1
ALL THAT PIECE AND PARCEL OF THE agricultural land bearing Old
Sy. No. 176/P28, Block No. 26, New Sy. No. 258 measuring 00-18 Guntas, situated at
Solur Village, Solur Hobli, Magadi Taluk, and bounded on:
East by : Private Land.

West by : Land belonging to Dayananda.
North by : Land belonging to Dayananda.
South by : Private Land.
Item No. 2
ALL THAT PIECE AND PARCEL OF THE agricultural land bearing Sy.
No. 243 measuring 00-26 Guntas, situated at Solur Village, Solur Hobli, Magadi Taluk,
and bounded on:
East by : Land bearing Sy. No. 246.

West by : Land bearing Sy. Nos. 242 & 244.
North by : Land baring Sy. No. 245.
South by : Land bearing Sy. No. 258.
Item No. 3
No. 245 measuring 2-00 Acres 04 Guntas, situated at Solur Village, Solur Hobli,
Magadi Taluk, and bounded on:
East by : Private Land.

North by : Land bearing Sy. Nos. 247 & 256.
South by : Land bearing Sy. Nos. 246 & 243.
Item No. 4
and bounded on:
East by : Land bearing Sy. Nos. 243 & 245.
Item No. 5
and bounded on:

West by : Land bearing Sy. No. 240.
North by : Land bearing Sy. No. 244.
Item No. 6
No. 241 measuring 00-26 Guntas, 00-03 Guntas Kharab totally 00-29 Guntas, situated
at Solur Village, Solur Hobli, Magadi Taluk, and bounded on:

West by : Maadigondanahalli Gadi.
South by : Private Land.
Item No. 7
No. 240 measuring 00-14 Guntas, 00-01 Gunta Kharab totally 00-15 Guntas, situated

West by : Madigondanahalli Gadi.
Item No. 8

Item No. 9

Item No. 10

Item No. 11

Item No. 12

Item No. 13

Item No. 14

IN WITNESS WHEREOF, the parties above named have put their

respective signatures to this Deed of Joint Development Agreement on the day,
month and year above mentioned in presence of the following witnesses.
WITNESSES:
1.
1.
2.
3.
2.
OWNERS
DEVELOPER

Joint Development Agreement - Chethan Kumar. R (Rajashekhraiah. M &amp; Pushpalatha. K.S) MRR

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Joint Development Agreement - Chethan Kumar. R (Rajashekhraiah. M &amp; Pushpalatha. K.S) MRR

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THIS DEED OF JOINT DEVELOPMENT AGREEMENT is made and

2. Smt. K.S. PUSHPALATHA,

3. Sri. R. CHETHAN KUMAR,

All are residing at No. 85,

Sri. R. CHETHAN KUMAR,

[Hereinafter referred to as the DEVELOPER. The term DEVELOPER shall

AND WHEREAS, in the manner stated supra, the OWNERS herein

Whereas, the Owners being desirous of developing the Schedule property

WHEREAS, THE OWNERS HAVE REPRESENTED TO THE

b) That the Schedule Property is not subject to any encumbrances,

d) That there is no impediment for the owners to acquire or hold or to sell

e) That the Schedule Property is in personal possession and enjoyment of

The Developer have agreed to pay a sum of Rs. _________/- [Rupees

[a] Rs. _________/- (Rupees ________________ Only) by way of Cash on

NOW THEREFORE THIS AGREEMENT WITNESSES AS FOLLOWS:

I That in pursuance of the foregoing and subject to the mutual obligations

PERMISSION FOR DEVELOPMENT:

c) The Owners hereby agree not to interfere or interpret in any manner

c) The Developer shall be entitled to modify the plan, if required by

REPRESENTATIONS BY THE OWNER;

In addition to what is stated above, the Owners hereby declare that:

b) That the Schedule property is not subject to any encumbrances,

d) No notice from Government or any other local body or authority or

OBLIGATION OF THE DEVELOPER:

a) Prepare and finalize the plans or any modification thereof and

COMMENCEMENT OF DEVELOPMENTAL WORK AND AMENITIES:

COMPLETION OF THE PROJECT:

However, the Developer shall be entitled to corresponding extension of time for

a) In consideration of the Owners agreeing to transfer an undivided 50%

c) The Developer shall intimate the Owner on the completion of the

PROCEDURE AND PROVISION REGARDING SELLING OF SITES BY

2. Developer shall enter into sale transactions with prospective purchasers

3. The Developer shall be entering into sale transactions with the

4. The Owners is entitled to enter into sale transactions in respect of 50%

ASSIGNMENT OF DEVELOPMENT WORK:

The Developer are entitled to entrust/assign the development work to such

East by : Private Land.

East by : Land bearing Sy. No. 246.

East by : Private Land.

East by : Land bearing Sy. No. 243.

East by : Land bearing Sy. No. 258.

East by : Land bearing Sy. No. 242.

East by : Land bearing Sy. No. 244.

East by : Land bearing Sy. No. 254.

East by : Land bearing Sy. Nos. 255 & 256.

East by : Land bearing Sy. Nos. 253 & 254.

East by : Land bearing Sy. Nos. 252 & 253.

East by : Land bearing Sy. No. 252.

East by : Land bearing Sy. No. 252.

IN WITNESS WHEREOF, the parties above named have put their

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Joint Development Agreement - Chethan Kumar. R (Rajashekhraiah. M & Pushpalatha. K.S) MRR

Joint Development Agreement - Chethan Kumar. R (Rajashekhraiah. M & Pushpalatha. K.S) MRR

[a] Rs. _/- (Rupees ________ Only) by way of Cash on