DEVELOPMENT AGREEMENT

This Development Agreement is made and executed on this the ___ day of
July 2022, at Jadcharla, Mahboob Nagar, District, T.S., by and between: -

SRI SHAIK SHAH ALLAM S/o Shaik Bajan, aged about 43 years,
Occupation: Business, R/o H.No.4-109, Plot No.152, Mithila Nagar Colony,
Near Jillelaguda Village, Meerpet Post, Saroor Nagar, Ranga Reddy District,
T.S., having Aadhar No.9395 3349 7542.

(Hereinafter called as the “OWNERS”) which expression shall mean and include all
his legal heirs, legal representatives, executors, administrators, and assignees etc.,
of the First party.

AND

1. MOHAMMED ABDUL BASEER S/o Late. Mohammed Abdul Rasheed, aged

about 41 years, Occupation: Business, R/o H.No.19-5-17/A/56, Shareef
Nagar, Kishanbagh, Bahadurpura, Hyderabad, T.S., having Aadhar No.9336
1925 1838.

2. MOHAMMED ABDUR RAHEEM S/o Late. Mohammed Abdur Rahman, aged

about 50 years, Occupation: Business, R/o H.No.8-1-398/E/3, I.A.S., Colony,
Tolichowki, Hyderabad, T.S., having Aadhar No.5771 7083 7372.

3. ABDUL HAMEED S/o Late. Mohd. Abdul Rasheed, aged about 44 years,
Occupation: Business, R/o H.No.19-5-17/A/56, Shareef Nagar, Kishanbagh,
Bahadurpura, Hyderabad, T.S., having Aadhar No.8441 3541 9149.

(Here in after called as the “DEVELOPERS/ATTORNEYS”) which expression shall

mean and include all their heirs legal representatives, executors, administrators, and
assignees etc., of the Second part.

WHEREAS the first party herein is the absolute owner and peaceful possessor of all
that agricultural land as follows:-

Sl.No. Survey No. Extent in

Ac - guntas
1. 106/A/E/2 1.00
2. 106/A/AA-AA 1.00
3. 106/AA/2 0.20

Totaling to Ac.2.20 guntas

Situated at Kucharkal Village, Rajapur Mandal, Mahboob Nagar District, T.S., And
whereas revenue authorities have mutated the name of first party herein and issued
electronic patta pass book No.T01250090453 vide Khata No.914.

AND WHEREAS
the first party herein is the owner and possessor of all that agricultural land in
survey No.106/A/E/2 admeasuring Ac.1.00 guntas, situated at Kucharkal Village,
Rajapur Mandal, Mahboob Nagar District, T.S., having purchased the same vide
registered sale deed bearing document No.5553/2017 dated 18.07.2017 registered
at the office of Sub-Registrar, Jadcherla, Mahboob Nagar District, T.S., from Sri
Ghulam Sameer. And whereas the first party herein is also the absolute owner and
possessor of all that agricultural land in survey No.106/A/AA-AA admeasuring
Ac.1.00 guntas, situated at Kucharkal Village, Rajapur Mandal (earlier Balanagar
Mandal), Mahboob Nagar District, T.S., having purchased the same vide registered
sale deed bearing document No.237/2016 dated 08.01.2016, registered at the office
of Sub-Registrar, Jadcherla, Mahboob Nagar District, T.S., from Mohammed Abdul
Rahman. And whereas the first party herein is also the owner and possessor of all
that agricultural land in survey No.106/AA/2, admeasuring Ac.0.20 guntas which
totaling to admeasuring Ac.0.20 guntas, situated at Kucharkal Village, Rajapur
Mandal (earlier Balanagar Mandal), Mahboob Nagar District, T.S., having purchased
the same vide registered sale deed bearing document No.149/2015 dated
07.01.2015, registered at the office of Joint Sub-Registrar, Farooq Nagar,
Shadnagar, Mahboob Nagar District, T.S., from Mr. Hanmagalla Lingaiah and
Hanmagalla Jangaiah. The above said lands are contagious and which is totaling to
Ac.2.34 guntas but the revenue authorities have mutated the name of first party
herein to the extent of Ac.2.20 guntas only and issued electronic patta pass book
and title deed bearing No.T01250090453 vide khata No.914 to the said extent only.

AND WHEREAS the First party herein is intended to develop the schedule land but
he has no sufficient knowledge and experience to development the schedule land
and as such the first party has offered to the second party for development, Market
and Sale of schedule lands on the sharing ratios as 57% : 43% i.e., 57% share of
developed land to the owner/first party and 43% share of developed land to the
developers/second party in the developed land and the owner / first party and
developers/second party herein have mutually agreed to develop the schedule land
on the above said sharing ratio and both the parties are agreed for the same.

AND WHEREAS both the parties herein felt it necessary to reduce the terms and
conditions into writing to avoid any misunderstandings, disputes, misconceptions,
etc., that may arise in future between them and hence execution of these presence.

NOW THIS DEVELOPMENT AGREEMENT WITNESSETH AS FOLLOWS:-

1. The owner/first party do hereby offered for development, Marketing and sale
of the schedule property to the Developer/Second Party who do hereby accept to do
the same.
2. That the profit-sharing ratio of the developed area between the parties to this
Agreement shall be 57% to the owner/first party and 43% to the
Developers/Second party.

3. The developers/second party have already paid a sum of Rs.45,00,000/-

(Rupees forty-five lakhs only) as advance to the land owner/first party as adjustable
amount in the sales as follows: -

i. Rs.12,00,000/- (Rupees twelve lakhs only) by way of account transfer on

27.05.2022.

ii. Rs.5,00,000/- (Rupees five lakhs only) by way of account transfer on

30.05.2022.

iii. Rs.28,00,000/- (Rupees twenty-eight lakhs only) by way of cash on

21.07.2022 and the owner/first party have admitted and acknowledges the
receipt of above said total amount of Rs.45,00,000/- (Rupees forty five lakhs
only) and passed separate receipt of above said amounts as having received
the same.

4. The developers/second party said to have spent an a non refundable amount

of 12,00,000/- (Rupees twelve lakhs only) for whatsoever objective and
9,60,000/-(Rupees nine lakhs sixty thousand only) for soil filling work.

4. That the developers/second party approached the owner/first party who

are engaged in the business of real estate development and is having requisite
men, material and know-how to undertake the said development activity and
offered to entrust the development of the above said property.

5. That the land owner/first party has decided to develop the schedule
property for its more advantages, accordingly the land owner/first party has
offered the developers herein, to develop the schedule property.

6. The owner/first party hereby declare and assure the developers that the
schedule property is free from all encumbrances, charges etc., and the
owner/first party further agreed and undertake to keep the said property free
from all encumbrances during the development work till completion of layout
thereon by the developers and in the event of any adverse claim from any
person/third party the owner hereby agreed to solve the same at his own cost.

7. The developers/second party shall be at liberty to take necessary

permission for the purpose of development of schedule land from the competent
authorities concerned at their own cost expenses in the name of the owner/first
party.
8. The owner/first party given permission to the developers/second party to
enter upon the said property described in the schedule with full rights and
authority can commence, carry on and complete development work thereof in
accordance, with the permissions.

9. The developers/second party shall be entitled to carry out the

development work at their own costs, charges and expenses in all respects on
any items of work for development of the said property including all formations
WBM roads, electrical lines, etc., and to develop the same at their own costs,
and other items as per the terms and conditions imposed by the concerned
authorities. The owner/first party hereby agreed to render all assistance and co-
operation that may be required by the developers/second party from time to
time till completion of the development work thereon in schedule land in
accordance with terms and conditions as may be stipulated by the concerned
authorities.

10. The owner/first party and developers/second party agreed that they will
enter into a development agreement in respect of the schedule land / plots
allotted to their share after plan is sanctioned by the concerned authorities. The
owner/first party and developers/second party also agreed that the prime plots
to be developed will be allotted in the ratio of 57% and 43% respectively.

11. The owner/first party hereby delivered the possession of schedule land to
the developers/second party for carrying development work.

12. The owner/first party do hereby declare that no notice from the
Government / local body or authority has been received by or served upon the
owner/first party or any person interested in the said property.

13. The developer/second party shall not enter into any agreement or deal
with the third parties in respect of the share of owner/first party within this
agreement period.

14. The developers/second party shall make the owner’s share of the
developed plots available for sale at any stage to be decided by the owner/first
party and the developers/second party will cooperate with the owner to provide
prospective purchasers.

15. The land owner/first party will pay and clear of all the dues like open land
tax, electrical charges if any till date of this agreement. The first party hereby
declare and undertake that there are no mortgages, liabilities and no income tax
dues are payable by him and the said property is free from all kinds of
encumbrances.

16. The land owner/first party is executing this development agreement in

favour of the developers/second party in respect of schedule land in the
proposed layout, and by virtue of this indenture the developers/second party
shall be at liberty to deal with their share area of the layout in the form of open
plots and sell them to their prospective purchasers but the registered sale deeds
shall be executed by the owner / first party herein only and the sale proceeds
shall be distributed as agreed above i.e., 57% share of sale proceeds to the
owner/first party and 45% share of sale proceeds to the developers/second party
herein.

17. The second party/developers shall commence the layout and shall
complete the total venture with mentioned amenities within the period of (12)
months from date of this agreement with a grace period of (2) months from the
date of this development agreement.

18. The first party/land owner hereby specifically agreed with the
developer/second party that on execution and entering of this development
agreement automatically all the previous agreements/development agreements
whatsoever pertaining to the schedule property entered with any third party shall
stands cancelled and become null and void.

19. That the owner/first party shall produce the original documents of title
pertaining to the schedule property to the developers/second party for
verification if required by the prospective purchaser/s of the developed plots.

20. The registration charges of this development agreed will be borne by the
developers only.

21. That the developers/second party are entitled to advertise, put up

hoarding or sign-boards and other publicity material in its name at the site and
at such places as the developers deems fit for the promotion of sale of the
developed property.

22. That the owner/first party shall be entitled to visit the schedule mentioned
property from time to time to know and verify the progress of development work
in accordance with the specifications laid down in this agreement.

23. That if the developers/second party failed to develop, market and sale of
the layout within (12) months as mentioned above in such a case the owner/first
party is have every right to cancel this development agreement without giving
notice to the developers/second party and advance amount given by the
developers/second party to the owner/first party will be forfeited and the owner
is having right to enter into a fresh development agreement with third parties
and the developers/second party will have no rights on the unsold 43% of the
share.

24. That if the developers/second party will enter into any transaction i.e.
deeds etc., including mortgage in respect of their share of 43% without
executing development work on the spot, the said transactions are invalid and
not binding upon the owner/first party. This clause is applicable in default of
development work on the spot within stipulated time.

25. That the developers/second party to look after and safeguard the Schedule
Property and its maintenance during the course of development of schedule
property.

27. That the developers/second party to look after and safeguard the Schedule
Property and its maintenance after sales of schedule property for a period of 10
years.

28. To negotiate with and enter into agreement of sale, for sale of plots to any
intending purchaser or purchasers and receive advance amounts and discharge
proper receipts for the same by executing proper deed (s). To market and sale of
plots by Developer/second party to any intending purchaser or purchasers at a
rate mutually agreed by both parts in the signed MOU by First part and Second
part.

AS PER FARM LANDS

i. Formation of Road and B.T. as follows:-
a. Laying of WBM road with 65 mm one layer.
b. Laying of WMB second layer road with 40 MM.
c. Balack top road one inch with paver after compaction.

ii. Formation of Footpaths.

a. Laying of C.C. Kerbing with machine to all foothpaths with a height of one
feet with good finish.

b. Filling of morrum in foothpaths upto kerbing top level.

c. Plantaion on footpath on every 15’ feet distance.
d. Colouring to kerb stones, base black and white with oil paint.

iii. Drainage pipe lines.

a. Laying of drainage pipe lines of 8” dia on both sides in footpaths.
b. Construction of manholes on 60’ distance each with covers.

iv. Electrical
a. Erection of electricity poles of 11 KV (9) meters height.
b. Three phase wiring, one newtal and one street light wire total (5) wires to be
connected (including transportation etc., complete).
c. Purchasing of Transformers with all accessories, fixing on column,
transportation labour etc., complete.

d. Street lights with fitting to all electricity poles.

If any dispute or difference arises among the parties in respect of this agreement,
the same shall be referred to the arbitrator or arbitrators mutually selected for the
purpose. The award of the arbitrator or arbitrators in respect of such difference of
dispute shall be final on all parties subject to the provision of law that may ne
enforced.

SCHEULE OF PROPERTY
All that agriculture land bearing the below survey numbers and extent
totaling to Ac.2.20 guntas as follows Situated at Kucharkal Village, Rajapur Mandal,
Mahboob Nagar District, T.S.

Sl.No. Survey No. Extent in

Ac - guntas
1. 106/A/E/2 1.00
2. 106/A/AA-AA 1.00
3. 106/AA/2 0.20

Totaling to Ac.2.20 guntas

IN WITNESSES WHEREOF, the parties of the first part and parties of the second part
have signed this Development Agreement on reading the same in English and
explained the meaning of the same n their vernacular language and after under
stood the meaning of the same in its true sense without any fear, force, undue
advantage or coercion on the day, month and year first above mentioned in
presence of the following witnesses.

WITNESSES:-
1. Signature of the First Party

2.

Signature of Second Party