Jv Agreement Sample

8/11/2019 Jv Agreement Sample

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JOINT VENTURE AND DEVELOPMENT AGREEMENT

This development agreement entered at Chennai on this the 2012.

BETWEEN

Mr. Land Owner aged year, Son of, residing at No:. Hereinafter called the OWNER

which expression and term shall, unless, repugnant to the context or meaning thereof,

include his heirs, legal representatives, executors and assigns of the FIRST PART :

AND

M/S.RealAgentIndia, represented by its Proprietor Mrs. Vaanisree.s, aged about

26 years, wife of Mr. J.Prabhakaran, office at No.297, Nethaji Street, Agaramthen, Meppedu

Post, Chennai- 600 073, Branch Off: 285, Velachery Main Raod, Chennai-600073.

ereina ter alle t e PROMOTERwhich expression land term shall, unless repugnant to

the context or meaning thereof, include its successors, assigns, executors, administrators,

and legal heirs, of SECOND PART.

..2..


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WHEREAS the FIRST PART is the sole and absolute owner of the land and building,

bearing ress. measuring an extent of sq.ft land Mot er Do ent Details

WERE t e OWNERherein ever since the date of purchase has been in continuous

possession and occupation of the schedule mentioned property without any let hindrance from

any person whomsoever in any manner whatsoever.

WHEREAS the OWNER erein esiro s o e elo in s e le entione ro ert

constructing residential flat over it.

W ereas in rs an e o t e a o e t e OWNER as a roa e t ePROMOTER

herein and requested it to assist his in the development of the schedule mentioned property

and also requested to construct a residential flat over the same consisting of individual

dwelling flats.

WERE t e OWNER as ass re t e PROMOTER t at e is t e sole an

absolute owner of the schedule mentioned property and no other person or entity has any

interest whatsoever in the said property. Based on the assurances and representations of the

OWNER t e PROMOTER as a ree to e elo t e s e le entione ro ert s

the following terms and conditions.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

1. In consideration of the aforesaid and in consideration of the developer agreeing to

develop the schedule mentioned property.

2. T e OWNER s all a e50 i e o ilt area as is s are an t e PROMOTER

shall have 50% the balance build up area of the project as per working plan as his

share owned by promoter after obtaining building plan approval.3. The PROMOTER will pay a Refundable Deposit or Non Refundable Deposit sum

of Rs. /- (Rupees only) to land owner.

4. T e OWNER n erta es to on e to t e PROMOTER or is noinees o reainin

onstr te area elon in to t e PROMOTER T e OWNER or is oer a ent

shall have the right to convey the proportionate share of the undivided share of land, of

t e PROMOTER t ro a sale ee s alon it t e PROMOTER to is

nominee(s).

5. T e OWNER ass res t at t e title to t e ro ert is ni ea a le an t ere are

factors affecting the title of the owner to the Schedule property and has paid all taxes

and other dues in respect of the same till date.

6. T e PROMOTER o enants t at t e entire ost o onstr tion o t e il in t

ere te o er t e s e le ro ert s all e orne t e PROMOTER

7. T e PROMOTER rt er o enants t at all ees a a le to te Architects, lawyers,

Engineers and independent Contracts in respect of the Development and any other

levies, charges and deposits required to be paid for the purpose of obtaining licenses,

sanctions and for construction over the schedule property shall be borne by the

PROMOTER

8.

T e OWNER a rees an n erta es to e e te ale Deeor Power of Attroney for the

sai e tent allotte to t e PROMOTER in t e s e le ro ertas mentioned in


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Schedule C in a o r o t e PROMOTER or its noinees in s undivided shares

as an en alle on to o so t e PROMOTER

9. The Stamp Duty and registration charge in respect of the extents to be conveyed in

res e t o t e PROMOTER s are s all e orne t e PROMOTER or its noinees

10. n e ent o t e

OWNER ein esiro s o an o i i ation in re ar to an

specification / amenities in his portion of the built up area in the proposed building, the

sae s all e arrie o t t e PROMOTER at t e e tra to e ai t e o ner

11. T e O ners s are o iltup area during the process of construction and after the

sae is onstr te an eli ere s all e t e a sol te ro ert o t e OWNER an

he shall be entitled to deal with the same independently in any manner deemed fit by

him, further the owner shall be liable to pay all taxes, Patta charges and statutory levies

in respect of the same subsequent to taking possession of his share in the constructed

area as well as the undivided share in the land retained by her.

12.

T e PROMOTER s allbe entitled to deal on its own account and for its own benefit,

its own share of built-up area in the proposed building.

13. T e PROMOTER ass res to a l or t e re ire erissions san tions an ot

approvals for putting up the construction over the Schedule property. The

PROMOTER ass res to se alit aterials

14. T e PROMOTER s all oen e t e or o onstr tion ie iatel a ter

obtaining approval of plans by Chennai Metropolitan Development Authority,

Corporation of Chennai and other authorities. The project shall be completed within 12

months time from the date of obtaining Plan Sanction from the relevant Authorities,

subject however to Force Major circumstances or in event of circumstances beyond the

ontrol o t e PROMOTER. The time is the essence of this Agreement.

15. The style and nature of construction and the materials used shall be at the sole

is retion o t e PROMOTER o s all e entitle to a oint its o n r ite ts

Engineers, Contractors, Sub-Contractors, workmen of all types all other personnel for

onstr tion an o letion o t e il in to e onstr te t e PROMOTER

16. T e OWNER s all ee t e PROMOTER llindemnified and harmless against all

costs or claims, action or proceedings loss or liability, including any objection / claim if

an arisin a ainst t e PROMOTER in res e t o an e e t in title to t e ro ert o

the owner or any claim by way of existing mortgage / charge / lease / tenancy, license,

Patta trust, maintenance or otherwise.

17. The Owner shall simultaneous to the execution of this Agreement, execute and register

a eneral Poer o ttorne in a o r o t e PROMOTER or t e noinees o te

PROMOTER to ena le t e PROMOTER to a roa t e or oration o ennai

C.D.M.A., CMWSSB & T.N.E.B. and all other municipal authorities for obtaining all

licenses, approvals and clearance for obtaining approval of plans and for erecting

superstructure over the schedule property.

18.

The Parties shall co-operate with each other and do all reasonable acts, deeds and

things as may be required by the other to successfully complete the development of the

e le ro ert an t e OWNER a rees to si n an e e te ne essar a li ations

a ers o ents ee s an t in s as t e PROMOTER a re ire ro tie to

time in order to le all an e e ti el est in t e PROMOTER or its noinee s title in

the Schedule A property.

19. The name of the Project shall be by ----- an s all not e an e in an

circumstances and the said name is to be incorporated in all Agreements to be entered

into with the prospective purchasers.


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20. T e PROMOTER s all e res onsi le or an aa e or in r or loss a se to a

person in the course of putting up the construction or undertaking or completing the

project.

21. In the event of any dispute or difference arising between the parties in regard to this

Agreement or the development of the Schedule property, they shall endeavor to settlethe same by mutual negotiation / discussions. In the event of their being unable to

arrive at a mutually agreeable solution, they shall refer such dispute / difference to

arbitration. The decision of the Arbitrator shall be final and binding on the parties. The

Venue of Arbitration shall be Chennai City. The said Arbitrator shall appointed by

mutual consent.

22. It is hereby further agreed, declared and confirmed between the parties hereto that this

Agreement is irrevocable. Either party shall be entitled to specific performance by the

other in case there is any breach of any of the terms and conditions or this Agreement.

23.

The Owner shall execute a General Power of Attorney in favour of the promoter to sell

aa t e Prooters s are in t e ilt area a ter o letion o t e onstr tio

also after hand over the share of the owner.

24. The OWNER and PROMOTER has agreed to construct 5 flats , with 1 Flat at Ground

floor , 2 flats in the First Floor and 2 Flats in the Second floor with 5 Carparking as per

the construction details more fully described in the SCHEDULE B and detail

specification in SCHEDULE C below and the rough plan attached herewith.

25. As specified in the Construction details, the total area of sq.ft with approximate

construction area of sq.ft to be built as mutually agreed. (inclusive of common area and

car parking), whereas the first part gets sq.ft of buildup area with UDS of sq.ft to be

retained as PLOTS (F1, F2) and remaining with UDS share of sq.ft to be sold @ rate of

Rs./sq.ft of total Rs. paid to First Part by Second Part as mutually agreed. The

remaining undivided share of about sq.f t UDS with sq.ft of Saleable area (inclusive of

common area and car parking), shall be of the builder of the party of the SECOND

PART, whereas Second part will retain PLOTS (S1, S2) with Sq.ft to be sold @ rate of

Rs./sq.ft of total Rs. and paid to by selling G1 flat as mutually agreed.

SCHEDULE A

ite n o

BOUNDED ON THE

NORTH EAST BY :

SOUTH WEST BY :

SOUTH EAST BY :

NORTH WEST BY :

MEASURING ON THE

NORTH EAST BY :

SOUTH WEST BY :

SOUTH EAST BY :

NORTH WEST BY :

Total Extent : square feet


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SCHEDULE B

Construction Details

Floor Plan Details

SCHEDULE C

Detail info on Specification

STRUCTURE:

Column Pillar Foundation with R.C.C. beams, Roof Slabs, etc as per Structural Engineers Design (Thermo Mechanically Treated-TMT

Steel

ISI Certified) All outer walls will be Double Brick Work in c.m.1:5 of 9 Wall thickness.

All inner walls will be Single Brick Work in c.m.1:4 of 4.5 Wall thickness.

Casting Foundation/ Footings/ Plinth Beams/ Columns /Roof beams/ Roof Slabs ISI Standard 53 Grade Cement will be used ( ISI

Certified)

For Brickwork & Plastering ISI Standard 53 or 43 Grade cement will be used. ( ISI Certified)

WALL FINISHES:

Internal walls will be finished with cement plaster with two coat putty finish and premium emulsion paint.

Exterior faces of the building will be finished with the cement plaster and Exterior Weather coat grade paint.

Ceiling areas of entire apartment both exterior and interior areas shall be finished with cement plaster and paint.

The toilet walls will be finished with designer concept glazed ceramic tiles subject to a limited choice of colours and concepts up to 7

high.

Other than the tiled area in toilets, Kitchen, other areas will be finished with cement plaster and putty finish with emulsion paint.

Wash and Service area will be finished with ceramic tiles up to 3-0 height. 2-0 above the kitchen platform will be finished with glazed

ceramic tiles

FLOOR FINISH:

All rooms will have Marble flooringand skirting.

Glazed tiles will be provided in toilet walls concept design up to height of 7 0 and flooring shall be provided anti -skid tiles.

Staircase will be finished with staircase tiles or blocks.

Tile or Cement Plastering for setback areas and Car parking.

Weathering Tiles for Open Terrace Area.

DOORS:

Entrance Door using Teakwood frame with Solid Teak wooddoors polished on the external and internal surfaces.

Bedroom frames will be made out of Teak woodwith water proofing - Moulded Flush doors.

For Toilets, 30mm thick Designer one side plastic coated waterproof flush doors.

Powder Coated steel fixtures will be used for all door Fittings with ISI brand locks (Godrej Locks with three keys for Main Door and

Mortise Locks for Bedrooms or Equivalent).

WINDOWS:

All window frames and shutters will be provided with Teak Wood

In toilets Fixed Lowered Ventilators will be provided.

All windows and ventilators will have Enamel Painted Mild Steel Grills.

KITCHEN:

Platform will be done with 20mm thick Galaxy Black Granite slabs 2 wide and provided with Stainless Steel Single Bowl sink with single

drain board.

Sufficient storage space will be provided underneath the cooking platform with shelves.

SANITARY WARE & PLUMBING:

Concealed Plumbing lines from overhead tank to all the apartments.(ISI Brand only)

Open plumbing lines will be of PVC pipes of ISI Brand.

European Water Closet (EWC) provided in attached toilet and Indian water closet (IWC) provided in common toilet.(Parryware or

Equivalent) with health faucet in both.

Wash basin in Dining hall and in attached toilets. (Parryware or Equivalent).

3 in 1 Wall in attached toilet and 2 in 1 wall mixer at general toilet.

All taps and showers will be of designer half turn taps of ISI brand, Chromium-plated with mixing fitting. (Jaguar or Equivalent).

ElECTRICAL:


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All wiring is Concealed copper wiring suitable for 3-Phase supply. (ISI Approved Orbit or Equivalent Quality) with adequate routing for

lighting and power loads as per electrical plan.

Separate energy meter will be given to each apartment in meter room located at ground floor. Distribution board shall be provided in

each apartment for easy isolation of supply with MCBs.

Common services shall have separate meters.

15 AMPS power socket will be provided for geyser in all bathroom with, A/C point in bedrooms and 2 points in Kitchen for Grinder and

Microwave oven

5 AMPS sockets four points will be provided, one for mixer machine, one for refrigerator, one for washing machine, three for exhaust

fan at kitchen and toilets.

Two 5 AMPS plug socket will be provided in each room. Two fan points in Living, One in Dining and One in each bedroom will be provided

One calling bell and Chandelier Point will be provided.

Two Light points in Living, Bedrooms and One Light point in Kitchen and Dining will be provided.

One Light point will be provided in balcony, toilets and Entrance Door frame respectively and One 5 Amps plug socket in Toilet will be

provided.

Provision of Connecting Invertors with breaker

Energy Saver provision at all the rooms.

Home theatre provision at hall.

Two ways switches for Bedrooms and Corridor.

Concealed Internet and TV Jack will be provided in Living and master Bedrooms.

Extra points will be provided at extra cost

Material used will be of ISI approved, Modular switches of Anchor Roma or equivalent brand.

PAINTING:

Internal surface will be finish with two coats Birla wall care putty with Concept Premium Emulsion paint. (Asian Paints or Equivalent)

colour of your choice.

External surface will be finished with Exterior Weatherproof Emulsion Paint as per architectural design and specification.

Synthetic Enamel paint for wooden surface and Grills.

WATER SUPPLY:

Sufficient Borewell depth with ISI Branded water pump motor of 1.5 Hp.

Sufficient under-ground sump for metro water will be provided.

Overhead Tank with two partitions,

COMMON FEATURES:

Entrance gate shall be provided.

Safety Grills at Entrance Gate will be provided.

Common areas, staircases, Car parking, terrace and compound shall be with Adequate light points.

Shelves with Cuddappa stones or concert slabs shall be provided in kitchen and bedrooms.

Lofts shall be provided in bedroom, kitchen.

Separate motor shed with grill provided.

Shoe Rack facilities at entrance

Pujja Room with shelves in cuddappa.

Swing hooks at balcony

Washing Machine Inlet / Outlet provision to be provided at service area.

IN WITNESS WHEREOF THE PARTIES HERETO HAVE SET THEIR LAND SIGNATURE ON THE

DATE, MONTH AND YEAR FIRST ABOVE WRITTEN IN THE PRESENCE OF:

Party of the First Part

Party of the Second part

WITNESSES:

1.

2.

Documents

Jv Agreement Sample