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joint development agreement

whether the construction agreement should be registered if so what will be the stamp duty
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what will be the stamp duty for registering joint development agreement
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Voting closed: April 02, 2016, 11:50:31 PM

Author Topic: joint development agreement  (Read 760 times)

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Offline Krishkambat

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joint development agreement
« on: March 23, 2016, 05:33:25 AM »
1) what is joint development agreement for a property in Tamilnadu.
2) whether it has to be registered.
3) what is the difference between construction agreement and joint development agreement.

Offline adv.amarnath

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Re: joint development agreement
« Reply #1 on: March 23, 2016, 09:55:14 AM »
1) what is joint development agreement for a property in Tamilnadu.
It means two parties jointly agreed to construct a building on certain terms and conditions

2) whether it has to be registered.
It is now became a compulsory registered document

3) what is the difference between construction agreement and joint development agreement.
Construction agreement is an agreement where one party contracts another party for construction of a particular building  whereas joint development agreement is an agreement where both parties to the agreement shall develop/ construct a building jointly.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline Krishkambat

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Re: joint development agreement
« Reply #2 on: March 23, 2016, 11:51:38 PM »
 1)whether the construction agreement should be registered if so what will be the stamp duty?
 2)what will be the stamp duty for registering joint development agreement?

Offline adv.amarnath

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Re: joint development agreement
« Reply #3 on: March 24, 2016, 08:48:52 AM »
How can I say without knowing the details of the property and project. I am not a registrar. Please make enquiry before the local registrar office with proper information.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
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Offline rajgopal sripathi

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Re: joint development agreement
« Reply #4 on: March 24, 2016, 05:35:41 PM »
Hi

a) The land owner signs the Joint Development Agreement (JDA) with the builder with numerous clauses.  Here the builder gets the plan approvals, identifies contractor to construct the building as per plan, gets the work of construction done through a contractor and is also involved in selling(marketing)  the flats/ floors to the public. The builder once he finalises the buyer, there a tripartiate agreement between the land owner, builder and buyer.

b) The Construction agreement is a pure agreement between the owner and the contractor.  By this agreement, the owner provides Plan approvals, Engineering drawings and the contractor will construct the building using labour and materials procured by him. The owner  will pay to the builder as and when works are completed. The contractor is not involved in the sale of flats.  So whenever a flat is sold to the prospective buyer, the land owner and the buyer will enter in to a sale deed.


c)  With respect to stamp duty and registration charges of JDA, Construction agreement, please pursue  the enclosed link
(http://www.tnreginet.net/news/Constn_Agreement_Act_18_13_Impelmentation_procedures.pdf)
Rajgopal Sripathi
Mobile:9704772200
email:rajgopal@legalwin.in

 

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