Agreement for Allotment of Alternative

Accommodation

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Agreement for Allotment of Alternative Accommodation

            This Agreement for allotment of permanent alternative accommodation is made and
entered into at______, this_____ day of________ 20___ amongst ABC Pvt. Ltd., a real estate company
incorporated under the provisions of the Companies Act, 1956/2013, having its registered office
at______, through Shri___________, the Executive Director of the company duly authorised vide
Board Resolution No_____ , dated______, hereinafter, for the sake of brevity, referred to as the
“Developer Company” (which expression, unless it be repugnant to the context and meaning
thereof, shall include its officers, agents, servants, nominees, legal representatives, liquidators
and assigns) AND DEF, an adult Indian, aged about_____ years, occ:-____, resident
of___________________________, hereinafter, for the sake of brevity, referred to as the “Said Allottee”
(which expression, unless it be repugnant to the context and meaning thereof, shall include his
legal heirs, executors, administrators and assigns) AND GHI, a co-operative Housing Society
(proposed) of the tenants of__________ building, through its Hon’ Secretary Shri______________,
hereinafter, for the sake of brevity, referred to as the “Confirming Society” (which expression,
unless it be repugnant to the context and meaning thereof, shall include its authorised members,
office bearers, agents, officers, nominees and assigns).
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WHEREAS, the “Developer Company” herein has undertaken the work of a redevelopment
project comprising_________ tenements and_____ shops collectively known as________ building,
being and situate at_______________, hereinafter, for the sake of brevity, referred to as the “Said
Building” in which the “Said Allottee” is a tenant of tenement no____, situate on_____ floor,
admeasuring about______ Sq. Feet, hereinafter, for the sake of brevity, referred to as the “Said
Tenement”, which is more particularly described in Schedule I appended hereto and the
“Confirming Society” is the proposed co-operative housing society and representative body of
the tenants of the “Said Building” which monitors and coordinates the redevelopment project
undertaken by the “Developer Company” vis-à-vis the “Said Building”.

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AND WHEREAS, the “Developer Company”, “Confirming Society” and Shri___________________, an

adult Indian, aged about____ years; occ:-_____, resident of____________________________, the lawful
owner of the “Said Building” and the land underneath and surrounding it on C.S/S.N/C.T.S
No_____ (hereinafter, for the sake of brevity, referred to as the “Said Landlord”) jointly executed a
Development Agreement on_______, which was duly registered in the office of Sub-
Registrar,________ Division, on_________, vide Sr.No_____, Pages ____ to _____, volume______
(hereinafter, for the sake of brevity, referred to as the “Said Development Agreement”).

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AND WHEREAS, under the “Said Development Agreement” all the executing parties thereto
agreed for the re-development of the “Said Building” together with the land surrounding and
underneath the same as comprised in C.S/C.S.N/C.T.S No_______ and more particularly described
in the Schedule appended thereto on certain terms and conditions which form part of the “Said
Development Agreement”.

AND WHEREAS, under the “Said Development Agreement” the “Developer Company”, in lieu of
the grant of rights for the sale of saleable component of built-up area in the form of flats and
shops as described in the “Said Development Agreement” agreed and undertook to compensate
the “Said Landlord” as well as the individual tenants lawfully occupying the tenements and shops
in the “Said Building” by allotting them flats and/or shops in the newly constructed buildings of
such area and specifications as are generally described in the “Said Development Agreement”.
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AND WHEREAS, the compensation payable to the “Said Landlord” viz. flats + monetary
consideration is more particularly described in a separate agreement executed between the
concerned parties the compensation payable to each of the eligible tenants in the form of free
allotment of flats and/or shops in the newly constructed building needs to be set out in a
separate agreement to be executed with the concerned tenant.

AND WHEREAS, the “Said Allottee” is one of the beneficiaries under the above referred Re-
development Project and has given his irrevocable consent for carrying out the redevelopment
in terms of the proposal given by the “Developer Company”, which has since crystallised in the
execution of “Said Development Agreement” and he is desirous of entering into an Agreement
with the “Developer Company” with a view to reducing into writing all the relevant terms and
conditions pertaining to the said Allotment; hence, both the parties hereto proceed to execute
the agreement as hereunder.
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                        NOW THIS AGREEMENT FOR ALLOTMENT OF ALTERNATIVE

ACCOMMODATION WITNESSETH AS HERE UNDER:-

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1] The “Said Allottee” hereto agrees with the “Developer Company” and gives his consent for the
execution of the re-development project as described and envisaged in the “Said Development
Agreement” and ratifies its contents;

2] The “Developer Company” in consideration of the peaceful and vacant vacation of the “Said
Tenement” on the part of the “Said Allottee” and his irrevocable consent for the re-development
work, hereby agrees to grant, give and allot unto and in favour of the “Said Allottee” a permanent
alternative accommodation on ownership basis in the newly constructed building (hereinafter,
for the sake of brevity, referred to as the “Permanent Alternative Accommodation”) of_____
square feet carpet area (______ square metres carpet area) with such amenities and facilities as
described in Schedule II appended hereto and the “Said Allottee” on his part agrees to accept the
same without any protest or demur;

3] The “Developer Company” and the “Said Allottee” hereby agree that the number of
tenement/flat, its location, floor number and other identification marks shall be determined in
the lot to be drawn by the representatives of the “Developer Company” and the “Confirming
Society” soon after the grant of Occupation/Part-Occupation Certificate in the presence of
some independent respectable person to be nominated by the “Confirming Society”. The “Said
Allottee” hereby agrees that he or any of his duly authorised representatives shall remain
present at the said draw and accept the flat/tenement that is disposed to his lot without any
protest or demur. The “Said Allottee” further agrees that in the event of his failure to attend the
said draw, either in person or through his representative, owing to any reason whatsoever, the
independent person to be nominated by the “Confirming Society” shall have the full and
absolute right to exercise the draw on his behalf;

4] The “Said Allottee” hereby agrees and undertakes to the “Developer Company” that on the
disbursement and physical transfer of the “Permanent Alternative Accommodation” as
described in the preceding paragraphs, he shall have no more claim against the latter and that he
shall acquit, discharge and release the “Developer Company” from all the liabilities and
obligations arising under the “Said Development Agreement” and hereunder;

5] The “Developer Company”, the “Said Allottee” and the “Confirming Society” hereby agree and
reiterate that the “Said Development Agreement” as described hereinbefore shall be regarded as
the Principal Agreement for the purpose of all the transactions, deals and affairs arising under
the aforesaid Re-development Project and in the case of any omission, inconsistency or
repugnance in the instant Agreement vis-à-vis the “Said Development Agreement” the
provisions of the latter Agreement shall prevail and bind all the parties concerned;

6] The “Developer Company”, the “Said Allottee” and the “Confirming Society” hereby declare
and reiterate that full stamp duty as prescribed under the__________ Stamp Act,____ has been paid
on the “Said Development Agreement” by treating the same as Principal Agreement for the
purpose of payment of Stamp Duty and the instant agreement being the subsidiary instrument
involved in the integrated transactions of the aforesaid Re-development Project shall be liable
only to the nominal duty which has been paid accordingly;
7] The “Confirming Society” on its part declares and reiterates that it is bound to honour the
commitments made under the “Said Development Agreement” and promises to all such acts,
deeds and things as may be necessary to give effect to the covenants contained herein.

SCHEDULE I

Description of the “Said Tenement”

            A tenement admeasuring about______ sq. feet carpet (________ sq. mt carpet), comprising a
single room of_____ x ______dimensions with attached bathroom, but without W.C, bearing
No_____, _____ Floor of the Building known as___________, situate on C.S/C.S.N/C.T.S No______ in the
Revenue Sub-District of______, _______(Taluka),_______ (District),__________ (State)

SCHEDULE II

List of Amenities to be provided in the Permanent Alternative Accommodation

———-    ———–     ——-

———-    ———–     ——-

            IN WITNESS WHEREOF, all the parties hereto have set and subscribed their respective
hands to this writing on the day, month and year first herein before mentioned.

Signed, Sealed and Delivered

by ABC Pvt. Ltd., the withinnamed

“Developer Company” through its Executive Director

Shri__________ in the presence of Witness

Name:-________________

Address:-______________
 

                                                                                                Sd/-

                                                                                                Shri_____________________

                                                                        Executive Director of

                                                                        ABC Pvt. Ltd

                                                                        The “Developer Company”

                                                                                    (Common Seal)

Signed, Sealed and Delivered

by DEF, the withinnamed “Said Allottee”

in the presence of Witness

Name:-________________

Address:-______________

              

                                                                                       Sd/-

                                                                        DEF

                                                                        The “Said Allottee”

 
Signed, Sealed and Delivered

by GHI Co-operative Housing Society Ltd (Proposed),

the withinnamed “Confirming Society”

through its Hon’ Secretary Shri__________

in the presence of Witness

Name:-________________

Address:-______________

                                                                        Sd/-

                                                                                                          Shri____________                                                                                
               Hon’ Secretary

                              GHI Co-operative Housing Society Ltd (Proposed)

                                                 The “Confirming Society”

——————

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