DEVELOPMENT AGREEMENT IS MADE ON ______________

BETWEEN
ENTERED INTO AMONG
(1)MRS MIRA DEY, (PAN: AFZPD7195K) wife of LATE SUKUMAR DEY, by caste: Hindu,
Occupation: Business, resident of Hattola Road, Durgapur Bazaar, P.O-Durgapur-1, P.S-
Coke Oven, Municipality- Durgapur Municipal Corporation, District:-Paschim
Bardhaman, West Bengal; (2) MR SOURAV DEY, (PAN: AGWPD2860R) son of LATE
SUKUMAR DEY, by caste:Hindu, Occupation: Service, resident of Hattola Road,
Durgapur Bazaar, P.O.-Durgapur-1, P.S.-Coke Oven, Municipality- Durgapur Municipal
Corporation,District:-Paschim Bardhaman, West Bengal;(3) MRS SUSMITA CHANDRA,
(PAN:AMBPC6571F) wife of Swapan Chandra, by caste:Hindu, Occupation: Housewife,
resident of Santiniketan, P.O-Bolpur, District:- Birbhum, West Bengal hereinafter jointly
referred to and called as “LANDOWNERS” (which term and expression shall unless
excluded by or repugnant to the subject or context be deemed to mean and include
their respective heirs, representatives, executors, administrators, successors and
assigns) of the FIRST PART.

AND

EESHAN HOMES CONSTRUCTION, represented by its Proprietor SRI. KAJAL KESH [PAN
- AKFPK5340N] Son of Sri. Heronmoy Kesh by faith Hindu, by occupation Business, by
nationality Indian, resident of Nadiha, P.S.- Coke oven,Durgapur-713201, District –
Paschim Bardhaman (W.B). having its office at G-19 Saptarshi
Sarani,Bidhannagar,Durgapur-713212 hereinafter refereed to and called as the
“DEVELOPER” (which terms or expression shall unless excluded by or repugnant to the
context be deemed to mean and include its successor-in-office legal representatives,
administrators, executors and assigns) of the SECOND PART.

Whereas the Schedule ‘A’ mentioned land is originally recorded in the name the
landowners.

AND WHEREAS the First Part desire to develop the Schedule ‘A’ mentioned property by
construction of a multi storied building up to maximum limit of floor consisting of so
many flats and parking space etc as approved by Durgapur Municipal Corporation but
the Owner(s) has not the sufficient fund for the development work and for this reason
First Part is in search of a Developer for the said development work.

AND WHEREAS the First Part herein has approached the Second Part and whereas the
Second Part after considering the various aspects of execution of the project and
proposal of the landowners has decided to construct multi-storied building there
consisting of apartments and flats, garages,commercial spaces etc with the object of
selling such flats/apartments, garages,commercial spaces etc to the prospective
purchasers and the Second Part has accepted the proposal of First Part.

pg. 1
NOW THIS AGREEMENT WITNESSES, RECORDS, GOVERNS AND BINDS THE PARTIES AS
FOLLOWS:

I:-DEFINITIONS:-

(1) LANDOWNERS :-Shall mean (1)MIRA DEY,(PAN: AFZPD7195K)wife of LATE

SUKUMAR DEY, by caste: Hindu, Occupation: Business, resident of Hattola Road,
Durgapur Bazaar, P.O-Durgapur-1, P.S- Coke Oven, Municipality- Durgapur
Municipal Corporation, District:-Paschim Bardhaman, West Bengal;(2)SOURAV
DEY,(PAN: AGWPD2860R) son of LATE SUKUMAR DEY, by caste: Hindu,
Occupation: Service, resident of Hattola Road, Durgapur Bazaar, P.O.-Durgapur-
1, P.S.-Coke Oven, Municipality- Durgapur Municipal Corporation, District:-
Paschim Bardhaman, West Bengal;(3)SUSMITA CHANDRA,(PAN:AMBPC6571F
) wife of Swapan Chandra, by caste: Hindu, Occupation: Housewife, resident of
Viswabharati, Santiniketan, P.O-Bolpur, District:-Birbhum, West Bengal.

(2) DEVELOPER: - Shall mean EESHAN HOMES CONSTRUCTION, represented by its

proprietor Sri. KAJAL KESH SON of Sri. Heronmoy Kesh by faith Hindu, by
occupation Business, by nationality Indian, resident of Nadiha, P.S.- Coke
oven,Durgapur-713201, District – Paschim Bardhaman (W.B). having its office at
G-19 Saptarshi Sarani,Bidhannagar,Durgapur-713212 .

(3) LAND :- Shall mean land measuring more or less 16.5 Decimal of Bastu Land
under Mouza-Nadiha, J.L.No-92, L.R.Plot No-3359, R.S. Plot No-420&421,L.R.
Khatian Nos 1157 4305,4306 and 4307 under the jurisdiction of Coke Oven P.S.,
District- Paschim Bardhaman.

(4) BUILDING: - Shall mean the Building/s to be constructed, erected, promoted,

developed and built on the premises of the landowners herein by the Developer
herein in the Land mentioned in the Schedule ‘A’.

(5) MUNICIPAL CORPORATION: - Shall mean the Durgapur Municipal Corporation

and shall also include other concerned authorities that may recommend,
comment upon approve, sanction, modify and/or revise the Plans

(6) PLAN :- Shall mean the sanctioned and/or approved plan of the building(s)
sanctioned by the Durgapur Municipal Corporation and/or such other
authorities and shall also include variations/modifications, alterations therein
that may be made by the Landowners herein or the Developer herein, if any, as
well as all revisions, renewals and extensions thereof, if any

(7) LANDOWNERS’ AREA ALLOCATION: Shall mean 40% percent of the respective
Flat/Apartment/Garage Space/ Commercial Space selling/consideration
amount total saleable area of the building together with the undivided
impartible proportionate interest in the Schedule ‘A’ mentioned land and all
the common portions.

(8) DEVELOPER’S AREA ALLOCATION :- Shall mean the entire proposed multi-
storied building except the said aforestated owner’s part with such maximum

pg. 2
 floors as may be sanctioned and approved by the competent authority(s)
together with undivided, impartible and proportionate interest unto the said
land. Shall mean save and except the Landowners’ allocation, the remaining
60% percent of the Flat/Apartment/Garage Space/Commercial Space
selling/consideration amount of total saleable area of the building together
with the undivided impartibly proportionate interest in the Schedule ‘A’
mentioned land and all the common portions.

(9) SALEABLE AREA: - Shall mean the space in the proposed building available for
independent use and occupation including common portions and/or common
facilities and services, i.e. Super Built-up Area.

(10) FLOOR AREA RATIO OR ‘F.A.R.’ (being the abbreviation of the whole word
‘Floor Area Ratio’):-Shall mean the quotient obtained by dividing the total floor
area of all the floors of a building by the area of the plot, the formula being as
follows:

F.A.R. = Total floor area of all floors.

Area of the plot.

(11) COMMON FACILITIES/PORTIONS/AMENITIES:- Shall include, stairway landing,

stairway passage, corridors, pump rooms, overhead water tank, electric meter
room/place and other spaces and facilities whatsoever for the egress & ingress,
of the building except roof right.

(12) UNIT/FLAT: - Shall mean any Unit/Flat in the Building(s) lying erected at and
upon the premises and the right of common use of the common portions
appurtenant to the concerned Unit/Flat and wherever the context so intends or
permits, shall include the undivided proportionate share and/or portion
attributable to such Unit/Flat.

(13) PROJECT :- Shall mean the work of development undertake and to be done by
the Landowners herein or the Developer herein in respect of the premises in
pursuance of the Development Agreement and/or any modification or
extension thereof till such development, erection, promotion, and construction
of the buildings at and upon the said premises be completed and possession of
the completed Units/Flats/Car Parking Spaces/Commercial Spaces and others
be taken over by the Unit/Flat/Car Parking Spaces/Commercial Spaces
occupiers.

(14) FORCE MAJEURE :- Shall include natural calamities, act of god, flood, tidal
waves, earthquake, riot, war, storm, tempest, fire, civil commotion, civil war, air
raid, strike, lockout, transport strike, notice or prohibitory order from
Municipality or any other statutory Body or any Court, Government Regulations,
new and/or changes in any municipal or other rules, laws or policies affecting or
likely to affect the project or any part or portion thereof, shortage of essential
commodities and/or any circumstances beyond the control or reasonable
estimation of the Developer.

pg. 3
(15) PURCHASER/S shall mean and include:

If he/she be an individual than his/her respective heirs, executors,

administrators, legal representatives, and/or permitted assigns;

If it be a Hindu Undivided Family then its members of the time being and their
respective heirs, executors, administrators, legal representatives, and/or
permitted assigns;

If it be a Company then its successor or successors-in-interests and/or

permitted assigns;

If it be a Partnership Firm then its partners for the time being and their
respective heirs, executors, administrators, legal representatives, and/or
permitted assigns;

If it be a Trust then is Trustees for the time being and their successor(s)-in-
interest and assigns.

(16) MASCULINE GENDER: Shall include the feminine and neutral gender and vice versa.

(17) SINGULAR NUMBER: Shall include the plural and vice-versa.

II- COMMENCMENT: - This agreement has commenced and shall be deemed to have
commenced with effect from the date the Project plan is sanctioned from by D.M.C.
Durgapur Municipal Corporation.

III: - DURATION:- This agreement is made for a period of 30 months from the date of
it’s commencement with a grace period of 6 months.

IV:- SCOPE OF WORK:- The Developer shall construct a multi-storied building according
to sanctioned plan of Durgapur Municipal Corporation over and above the land
mentioned in Schedule ‘A’ .

V :- OWNERS’ DUTY & LIABILITY:-

(a) The Landowners have offered total land of 16.5 Decimal for development and
construction of a housing complex consisting of flats / apartments, parking
spaces/ commercial spaces as per approved plan of the Durgapur Municipal
Corporation.
(b) That a land survey shall conducted by them if it is found that original land is less
than the land offered by the land Owner(s) then the same shall be rectified at
the time of registration of Development Agreement.
(c) That all the title related dispute shall be resolved by the landowners.

pg. 4
(d) That the Landowners shall within 15 (Fifteen) days from this agreement shall
vacate and deliver the vacant and peaceful possession of the Schedule ‘A’
property to the Developer.
(e) The Landowners hereby declared that :-
No acquisition proceedings have been initiated in respect of the Schedule ‘A’
mentioned plot.
That the said land is not coming within the purview of section-20 of the urban
land ceiling and Regulation act.
That there is no agreement between the Landowners and any other party
(except EESHAN HOMES CONSTRUCTION) either for sale or for development
and construction of housing complex and the said land is free from any
encumbrance.
(f) That the Landowners also agreed to give full authority & power to Second Part
to do & execute all lawful acts, deeds, things for the Landowners and on their
behalf in respect of all activities related to developing and construction of a
housing complex on the said land i.e. receive sanctioned plan from the
Durgapur Municipal Corporation , to make sign and verify all application or
objection to appropriate authorities for all and any license permission or
consent etc, to take legal proceedings which are required to be taken in
connection with the work of development and construction if any legal action is
taken against landowners in connection with the same project, to prosecute
and defend such legal proceedings, affidavit, application, etc to engage
advocate and to do all such things required to be done on that their behalf and
sale advertisement and promotional act for selling of flats/apartments to the
prospective buyer(s)and accept booking money, advance and consideration
money. However, the attorney or the developer shall not acquire any right, title
or interest in the said land/premises until the deeds of transfer are executed by
the Landowners, and the Landowners shall agree to ratify all acts and things
lawfully done by the developer.

VI- DEVELOPER DUTY, LIABILITY & RESPONSIBILITY:-

(a) The developer EESHAN HOMES CONSTRUCTION Confirms, accepts and assure
the Landowners that they are fully acquainted with, aware of the

pg. 5
 process/formalities related to similar project in Corporation area and fully
satisfied with the papers / documents related to the Ownership, physical
measurement of the said land , litigation free possession, suitability of the site
and viability of the said project and will not raise any objection with regard
thereto.

(b) The Developer confirms and assures the Landowners that they have the
financial and other resources to meet and comply with all financial and other
obligations needed for execution of the total project within scheduled time
under this agreement and the Landowners do not have any liability and or
responsibility to finance and execute the project or part thereof.

(c) The Developer shall consume or utilize the full F.A.R. available in respect of the
said property to be developed and shall not utilize F.A.R. available in respect of
any other property. Provided that, if any F.A.R., in addition to the existing
available F.A.R. in respect of the said property becomes available hereafter, the
Landowners are entitled to 40 % of the consideration amount of such additional
F.A.R. being sanctioned by the Durgapur Municipal Corporation.

(d) The development of the said property by construction of building or buildings

thereon shall be at the entire costs, expenses and risk of the Developer. All
building(s) to be constructed on the said property and all dwelling units thereon
will be in accordance with the scheme of the Competent Authority/State
Government under the West Bengal Municipal Act, 1993 (West Bengal Act XXII
of 1993), The West Bengal Municipal(Building) Rules of 2007 and other relevant
Acts and also in accordance with the other appropriate development rules and
regulations in force. The Developer shall be at liberty to make necessary
applications for the aforesaid purpose to the Competent Authorities concerned
at his own cost and expenses in the name of the Landowners.

(e) The Developer shall be entitled to carry out, at his own cost, charges and
expenses in all respect, all or any items of work for development of the said
property including laying of drainages, cables, water-pipes and other
connections and lighting of roads and other items as per the terms and

pg. 6
 conditions imposed by the Municipal Corporation while sanctioning the lay-out
scheme and the said plans and also other items of work as may be required to
carry out, for the purpose of making the said property fit for construction of
buildings and structures therein.

(f) The developer has agreed to carry out the total project by entrusting the entire
job of planning, designing and execution under close supervision & security of
reputed Architect/Planner, authorized/Licensed by appropriate authority. The
building plan should comply with the standard norms of the multi-storeyed
buildings including structural design as per approval of the local sanctioning
authority/Corporation/Govt. agencies. Any variation/alteration/modification
from the original approved drawing/plan needs approval of the Landowners &
the Architect before submission to the Corporation/appropriate authority for
subsequent revision. In case of any dispute in design, construction and quality
of material used, the architect’s decision will be final and binding on both the
Landowners and the Developer. However, basic character of the project
consisting of flats/apartment/parking space/commercial spaces and common
spaces like garden/water will remain intact unless agreed to by both the
Landowners and Developer.

(g) The Developer shall not start any work of development of the said property
unless the building plans are sanctioned by the Municipal Corporation and the
Commencement Certificate is issued in favour of the said development work. A
copy of the Sanction Plan must be supplied to the Landowners immediately.
(h) All transactions with the purchasers of Flat/Apartment/Garage
Space/Commercial Space must be through cheque/bank drafts or online
money transfer. No cash transactions will be done. Details of transactions
must be supplied to the Landowners at the time of intimation for registration
of Sale Deeds in favour of respective purchasers.

(i) That the Developer shall be responsible for any acts deeds or things done
towards any funds collection from one or more prospective buyer(s) of the
proposed flats.

pg. 7
 (j) That the Developer shall be responsible for complying with the Rules &
Regulation in all matters including construction of the building according to the
sanctioned plan and shall be responsible for complying with all provisions of law
that may be in force from time to time .The Landowners shall not be
responsible for any infringement of law that may be in force from time to time
during the currency of this Agreement. Further, the Landowners shall not be
responsible for any accident or damage or loss during the course of the
construction of the proposed building. In case there is any accident, the
Developer shall be fully responsible for all the consequences of the same under
Workmen Compensation Act and any other acts in force. If the Landowners are
ordered to attend a Court or their presence is required by any other authority
in this connection, he will empower the Developers to attend the
Court/authority concerned on their behalf .The Developer agrees to
compensate the Landowners fully, in case an adverse order is passed or any
compensation is ordered to be paid by the Landowners, by any Court, judicial
authority or any other competent authority.

(k) That during the course of construction all building materials and equipments
used or to be used for the development of the aforesaid plot shall remain at the
Developers’ risk and the Developer shall not be entitled to any compensation
from the First Part for any damages, loss or destruction of such works and
materials or equipments arising from any cause whatsoever.

(l) If, until the completion of the building(s), any damage or harm occurs to the
adjoining properties and/or neighbours, the Developer shall be fully responsible
for all the consequences.

(m) That the Developer shall complete, in all respect, the development
work/construction of building/flat at his own cost and expenses within 30
months from the date of commencement of this agreement with further
additional period of 6 months, if needed.

(n) That the Developer shall not make the Landowners responsible for any business
loss and/or any damages etc or due to failure on the part of the Developer to

pg. 8
 correctly construct the Flats and/or to deliver correctly the same to the
intending purchasers and in case of failure in such cases the Developer shall be
entirely responsible.

(n) That Developer agreed to indemnify the Landowners from the obligation of
paying Income Tax, sales tax or any other duties levied either by the State
Government or Central Government or statutory local authorities from his part
which are required to be paid for the profits which he derived after selling the
flats to the prospective buyer. In case the Developer fails to deliver the
possession of the Flats to the prospective buyers then the Developer himself
shall be responsible and answerable for the same. If in case for any default in
the part of Developer any legal action is taken, then the Developer shall
personally liable for the said consequences. Under no circumstances the
Landowners are responsible for the same.

VIII-Developer Allocation:-
Developer Allocations shall mean consideration amount of the saleable area of
the entire building including common facilities of the building along with
undivided proportionate share of the “said property / premises” after providing
the Landowners’ allocation as mentioned in this deed (Vide clause no. 1.7).

VII-Cancellation of Agreement:-
The Landowners have every right to terminate this agreement after 30 months
and a grace period of 6 months of commencement of this agreement, if the
Developer is unable to hand over the development work/construction of
building/flat/car-parking space/commercial space complete, in all respect, and
for the same Landowners has to give a one month clear notice to the
Developer. On such termination, the license agreement to develop the property
will be revoked and the Developer shall take away and remove within one-
month of such termination, all buildings, structures and materials brought on
the property and in default thereof, the same shall belong to and vest in the
Landowner absolutely and the Developer shall not be entitle to any
compensation or damages in respect thereof.

pg. 9
VIII-Miscellaneous :-

(a) Indian Law- This agreement shall be subject to Indian law and under the
Jurisdiction of Durgapur Court.

(b) Confidentiality & non-disclosure- Both the parties shall keep all non-public
information & documents concerning the transaction herewith confidential
unless compelled by Judicial or administrative process.

(c) Disputes- Differences in opinion in relation to or arising out during execution of

the housing project under this agreement shall be intimated by a Registered
letter/Notice and then to an arbitral tribunal/arbitrator for resolving the
disputes under the Arbitration & Conciliation Act, 1996, with modification
made from time to time. The arbitral tribunal shall consist of one arbitrator who
shall be an Advocate, to be nominated by both the parties or their legal
advisors.

(d) Copies of all statutory approvals of the competent bodies e.g. land conversion,
approved building plan, connection of water & electricity, sewerage disposal
etc. with due approval and or any other clearance from competent authority are
to be supplied by the developer to the Landowners from time to time.

(e) The Landowners can visit the construction site anytime and discuss with the
developer/ the site supervisor but will not disrupt or interrupt the construction
work. However, any unusual and non-permissible actions/operations observed
at site can be brought to the notice of the developer and the architect for
discussion and necessary corrective action.

(f) The developer shall ensure safe & sound building design and construction,
complete safety of the workmen , minimum wages, first class standard quality
of materials supplied/used along with all other legal formalities and moral
obligations during execution of the project so as to render the first party free

pg. 10
 from legal obligations and all other risks and hazards whatsoever related to the
project.

(g) It is agreed that the Landowners shall have absolute right to name the
developed property/building and the Developer shall not object to the same.

(h) The Second Part or the developer shall have the right and /or authority to deal
with and negotiate with any person and or enter into any deal with the contract
and/or agreement and/or borrow money and /or take advance from any
individual/ bank/financial institution and/or also allocate flats under this
agreement and within the framework of Power of attorney. However, no
equitable mortgage will be created by the Developer by depositing original
title deed of the Landowners.

(i) A successful project completion certificate from the Architect or any competent
technical body with specific observations/ comments on the design, quality of
material and workmanship, of the water supply system, sewerage system,
electric supply system and the lifts if any has to be obtained by the developer.
The Developer shall be responsible for any defect and rectification thereof at
their cost/expense for a guarantee period of next six months after handing over
of physical possession of the flats.

(j) That all cost, charges and expenses for execution of the whole project and
including stamp duty and registration fee for execution and registration of this
agreement and or deed of conveyance/transfer of the said land shall be paid
and discharged by the Developer exclusively.
(k) The Landowners shall have no right, title, interest, claim whatsoever in the
consideration amount received by the developer or its nominees out of the
Developer allocation. Similarly the Developer’s shall have no right, interest,
claim whatsoever in the consideration amount received by the Landowners or
its nominees out of Landowners’ allocation

(l) This Agreement will not be treated as a partnership between the Landowners
and the Developer or An Agreement for Sale of the said plot by the Landowners

pg. 11
 to the Developer. The Developer is given only the right license to enter the
premises and construct the building. to develop the said plot as aforesaid.All
right, title, interest and possession is retained by the Landowners, which will
be handed over to the Purchasers at the time of Registration of Sale Deeds.

(m) That all applications, building plan along with alteration, modification and
addition thereof and other papers and documents, if any, needed by the
developer for the purpose of the sanction of the building plan and/or any other
purpose to be required for said developments project shall be prepared by the
developer at its own costs and expenses in the name of the landowners without
reimbursement of the same and the Landowners shall sign on the said
plan/plans, application, paper, documents, etc. as and when the developer
asked for the same without demanding any remuneration and/or money for the
same.
Schedule ‘A’ (Description of Land)
All that piece and parcel land under the nature as Bastu under Mouza-Nadiha, J.L.No-
92, L.R. Plot No-3359, R.S. Plot No- 420 and 421, L.R. Khatian No- 4305, 4306 and 4307
measuring more or less 16.5 Decimal under the jurisdiction of Coke Oven P.S. Dist.-
Paschim Bardhaman. ENTIRE land is butted and bounded by

North: -Land of Ajay Kr.Mukherjee South: - Shyampur Amlajora Road via Nadiha

East: - 16 feet wide Road West: - Land of Alok Kesh & Kajal Kesh

(TENTATIVE SCHEDULE MENTIONING TYPE OF CONSTRUCTION AND SPECIFICATION)

1 Foundation : Reinforced cement concrete

2 Super Structure : Reinforced cement concrete covert
Columns, beams and slabs
3 Plinth : Brick Work with sand and cement
4 Walls : External Wall 200 mm, thick brick work,
internal partition wall 75/125 mm, thick
brick work with cement mortar
5 Finishing walls : Finishing internally all walls and ceiling
shall plaster cover which shall be finished
with wall putty.
6 Flooring : Ceramic floor tiles flooring in 3 inch
skirting at the bed room, drawing cum
dining, balcony, toilet and kitchen.
7 Toilet : 4 ft.” height glazed tiles on the wall
8 Kitchen : 2 ft., height glazed tiles on the wall over
the kitchen slab. Kitchen slab will be

pg. 12
 made by Black stone, Steel sink will be
provided.
9 Doors : All Door frames will be made of Sal wood
and all door panels are made by got press
commercial ply 37.5 mm thick.
10 Window : UPVC/Aluminium window with glass
fittings
11 Painting : All doors and window shall be finished
with painting
12 Electrical Installation : I.S.I. standard concealed wiring up to
points but without light and fan fittings
a. Bed room : Two light points, one fan point, one plug
point (5 amp)
b. Dining : One light point, one fan point, one 15
amp and one 5 amp plug point
c. Toilet : One light point, one exhaust fan point and
one 15 amp plug point.
d. Kitchen : One light point, one exhaust fan point and
one 15 amp plug point.
e. Main Entrance : One bell point
13 Water Supply : Water will be supplied from Municipal
Water Supply Connection of Durgapur
Municipal Corporation within the
premises through underground and
overhead water reservoir.
14 Plumbing Work : Commode with L.D.P.V.C. cistern, one
basin, and all fittings will be standard
made white in colour.
15 Roof : Roof of the building to be finished with
net cement or otherwise.

IN WITNESS WHEREOF the parties hereto have executed these presents on the day,
month and year first above written.
It is hereby declared that the full name, colour passport size photograph and finger
prints of each finger of both hands of Landowners & Developer are attested in
additional pages in this deed being no. (1) (A) i.e. in total numbers of pages and these
wile treated as part of this deed.

SIGNED AND DELIVERED by the LANDOWNERS /FIRST PART at DURGAPUR in the

presence of:

pg. 13
SIGNED AND DELIVERED by the DEVELOPER/SECOND PART at DURGAPUR in the
presence of:

______________________________

WITNESSES:

__________________________________

__________________________________

Drafted by me and typed at my Office and read over

And explained the parties and they admitted that same has been correctly written as
per their instruction.

pg. 14