1.

Date:
2. Nature of document: Re-development Agreement
3. Parties:

This Re-Development Agreement ("Agreement") is made and executed on this ----day of ----

Between

3.1. Owner: [Society Name], a cooperative housing society registered iunder the Maharashtra Co-
operative Housing Society Act having registration number ----- and registered address at ----
hereinafter referred to as the “Society”. Which expression shall, unless repugnant to the
context or meaning thereof , always mean and include the said OWNERS as well as, their
heirs, Legal Representatives, Assigns, Executors, Administrators, Successors of the FIRST
PART,
And

3.2. Developer: [Developer Name], a company registered under the laws of [Country/State],
having its principal place of business at [Address], hereinafter referred to as the "Developer."
Which expression shall unless repugnant to the context or meaning there of always mean
and include the said COMPANY and its DIRECTORS, as well as their respective heirs,
executors, administrators, successor and assigns of the SECOND PART,

3.3. WHEREAS, the Society is also the registered owner of the property described in the Deed of
Conveyance, situated at [Address/Location], Maharashtra, with the plot area of ----- as per
the Property Card registered with the relevant authority.

3.4. WHEREAS the owners are the exclusive and absolute owners of ALL THAT piece and parcel of
the land or ground admeasuring about------(11)----sq.mtrs lying, being and situated at
------------(12)--------- and more particularly described in the Schedule hereunder written

4. Subject Matter: The “Project” being re-development of the “Premises” as described in the
Schedule---
4.1. WHEREAS the Owner above named has decided to re-develop the existing said plot of land
into a (what is to be done/ process);

5. Background:
5.1. The Society is the sole owner of the Premises as mentioned in Schedule--. The devolution of
the title of the premises is mentioned in “Schedule-”
5.2. The Society, being the Owners of the Premises, is free from encumbrances and with
marketable unencumbered title on which the Parties and/or each of them are fully satisfied
and have no reservations, whatsoever, and also being satisfied that no person other than the
Parties herein has or can have any right, title and/or interest, of any nature whatsoever in
the Premises or any part thereof and also being further satisfied that there will not be any
difficulties to construct, develop and/or promote the commercial Project, are there, desirous
of taking up construction and re-development of the Project on the said Premises;
 5.3. The Developers hereinabove named, is reputed and well-experienced for the proposed re-
development project and hence the Parties have decided to re-develop the Premises by the
Developer for and on behalf of itself and the Owner; AND
5.4. In consideration of the foregoing, mutual covenants and agreements contained herein, and
also other good and valuable consideration, the receipt and sufficiency of the same are
acknowledged by Parties and the same has been put into writing the terms and conditions as
so mutually agreed upon by and between the Parties.

6. NOW THEREFORE IT IS HEREBY MUTUALLY AGREED BY AND BETWEEN THE PARTIES HFRETO AS
FOLIOWS
6.1. Agreement:
a) THAT the OWNERS does hereby allow and permit the DEVELOPER to RE-DEVELOP
and the DEVELOPER hereby agrees to RE-DEVELOP ALL THAT piece and parcel of THE
SAID PROPERTY, more particularly described in the schedule here under written
subject to the terms and conditions contained herein.
b) With regard to such development, it is agreed, confirmed and clarified by and
between the Parties that this agreement is not an agreement to sell and/or transfer
of the Premises or any part or portion thereof to the Developer but is merely an
agreement authorizing the Developer to re-develop the Premises by constructing
and completing the Project in all respects at the costs and expenses of the Developer
and also to enable and/or authorize the Developer to enter into contracts on its own
behalf on mutually pre-agreed terms with prospective allottees/ purchasers/
lessee(s)/ transferee(s) for sale/transfer/lease and/or for otherwise dealing with the
extra units/spaces in the building(s) comprised within the Project.
c) That in consideration of the Owners granting exclusive rights of development to the
Developer under this Agreement, the Developer has paid monetary consideration of
Rs----------(13)------ to the owners by --------(14)--------- dated--------(15)--------drawn
on--------(16)--------Branch---------(17) receipt of which owners hereby acknowledge.
d) That the Owner hereby allows and permits the Developer to obtain/borrow the
project finance for the aforesaid proposed scheme from any financial institution
without mortgaging the said property or any part thereof.
1. Redevelopment Project Overview:

1.1 The Society hereby grants permission to the Developer to enter upon the said plot, demolish the
existing building, and construct a new building.

1.2 The Developer shall have the exclusive right to develop, construct, and sell the new building on
the said plot.

1.3 The Society and the Developer shall agree upon the consideration for granting the development
rights, which may include a lump sum consideration or a share in the property constructed.

2. Liability and Consideration:

2.1 The Developer shall upfront recognize liability for the non-monetary consideration payable to the
Society, which shall get discharged as the property is developed or sold.

2.2 The consideration amount and the schedule of payment shall be specified in a separate annexure
to this Agreement.

3. Rights and Obligations of the Developer:

a. The Developer shall obtain all necessary approvals, permits, and licenses from the relevant
authorities for the Redevelopment Project.

b. The Developer shall bear all costs and expenses incurred in relation to the Redevelopment
Project, including but not limited to construction costs, taxes, fees, and charges.

c. The Developer shall complete the Redevelopment Project within the agreed timeframe
and in accordance with the applicable laws and regulations.

3. Rights and Obligations of the Allottee:

a. The Allottee shall provide the Developer with all necessary documents and information
required for the Redevelopment Project.

b. The Allottee shall cooperate with the Developer and provide access to the Property for
carrying out the Redevelopment Project.

c. The Allottee shall vacate the Property within the stipulated timeframe as mutually agreed
between the parties.

5. Term and Termination:

This Agreement shall commence on the date first above written and shall continue until the
completion of the Redevelopment Project. Either party may terminate this Agreement upon the
occurrence of a material breach by the other party, subject to the terms herein.

6. Miscellaneous:

a. This Agreement constitutes the entire understanding and agreement between the parties with
respect to the subject matter hereof and supersedes all prior agreements and understandings,
whether oral or written, relating to such subject matter.
 b. This Agreement may be executed in counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

1. Redevelopment Project Overview:

1.1 The Society hereby grants permission to the Developer to enter upon the said plot, demolish the
existing building, and construct a new building.

1.2 The Developer shall have the exclusive right to develop, construct, and sell the new building on
the said plot.

1.3 The Society and the Developer shall agree upon the consideration for granting the development
rights, which may include a lump sum consideration or a share in the property constructed.

2. Liability and Consideration:

2.1 The Developer shall upfront recognize liability for the non-monetary consideration payable to the
Society, which shall get discharged as the property is developed or sold.

2.2 The consideration amount and the schedule of payment shall be specified in a separate annexure
to this Agreement.

3. Project Timeline and Penalties:

3.1 The time period for completion of the new building shall be defined from the date of taking
complete possession of the existing structure until the date of receipt of the Occupation Certificate
("OC") in respect of the new building.

3.2 The completion period of the redevelopment shall be not more than two years, and in special
cases not more than three years, subject to any exigencies.

3.3 In case of delay beyond the agreed period, the Developer shall be liable to pay
penalties/damages as specified in a separate annexure to this Agreement.

4. Permissions and Approvals:

4.1 The Developer shall obtain all necessary permissions, approvals, and sanctions from the
Municipal Corporation of Greater Mumbai ("MCGM") and other relevant authorities at its own cost.

4.2 The Society and its members shall not be liable to pay for any deposits, fees, or premiums
required for obtaining such permissions.

5. Specifications and Amenities:

5.1 The new building shall adhere to the specifications and amenities agreed upon by the Society and
the Developer, as detailed in a separate annexure to this Agreement.
6. Members' Rights and Benefits:

6.1 Each purchaser of a flat shall pay entrance fees, share allotment money, and other dues as
approved by the Society.

6.2 The Developer shall provide alternative accommodation to the members in the same area until
the redevelopment project is complete, or pay monthly rent and deposit as specified in a separate
annexure to this Agreement.

7. General Provisions:

7.1 This Agreement shall be registered under the Registration Act, 1908.

7.2 All new members shall be admitted to the Society after completion of the redevelopment project
and approval of the General Body Meeting of the Society.

7.3 The development rights given to the Developer shall be non-transferable.

7.4 Disputes arising from the redevelopment work shall be settled under Rule No. 91 of the Rules.

7.5 The building plans approved by the Municipal Corporation shall be placed before the General
Body Meeting for information.

7.6 The financial implications of any increase in maintenance charges shall be assessed keeping in
mind the interests of all members, and the Developer may be asked to bear such charges.

8. Execution and Registration:

This Agreement shall be executed by the authorized representatives of the Society and the
Developer and shall be subject to the terms and conditions herein contained.

In witness whereof, the parties hereto have executed this Agreement on the day and year first above
written.

[Signature of Society Representative] [Signature of Developer Representative]

[Printed Name and Title of Society Representative] [Printed Name and Title of Developer
Representative]