Let me make it clear that I believe here, through registration, that the joint development contract between the owner and the landowner should be placed on the sub-register. One of the most common practices is to certify notarial or sign the Joint Development Agreement (JDA) on the Rs 200/-. stamp. The same agreement is submitted to the potential buyer in the form of a registered joint development agreement. It`s not fair. JDA is a common factor in the real estate sector linked between the landowner and the developer in an agreement to build new buildings/projects. In return, by the developer agrees to provide as i. Vision of the sum of wolf, ii. The percentage of revenue or a certain percentage of the newly constructed project on the land in question depends on the conditions set by the parties. Protecting your intellectual property is a challenge, especially when concluding a common development agreement or „JDA.” If two or more organizations want to collaborate to develop or improve their products, combine or integrate their technologies or market a new product together, they have many opportunities to document their relationship.
Now you have to wonder why it is imp to save JDA. At the macro level, neither the owners nor the landowners can dispute the terms and conditions of the registered JDA. Second, it gives authenticity to the agreement. In one case, I found that there were 23 corrections in the joint development agreement. It was almost impossible for the buyer to know whether the corrections were true or not. When the joint development contract is registered, the buyer can directly request a certified copy compliant with the shelter. Once the town planning plans have been approved by the legal authorities, there will be clarity in the details of the dwellings, car parks and proportional proportional land. On that date, an award agreement (endorsement) may be executed under the JDA, with the units allocated to each of the parties assigned for specific purposes. If the built area does not exactly correspond to the relationship agreed under the JDA, the parties may agree to adapt it to the monetary consideration.
This document also does not require registration. If cooperation is simple and development is minimal, parties can use standard licensing agreements and orders. If the parties are considering starting an active business and making substantial investments, the creation of a separate joint venture may be the best way forward. However, in many cases, a joint development or cooperation agreement provides the appropriate framework – the definition of a set of rules adapted to the relationship without overhead and the complexity of a separate joint venture. This first describes important points of the contract, which frequently occur in the JDDs, and aims to provide points for review and lists of points that the lawyer must take into account when preparing and negotiating a JDA, including intellectual property rights arising from development work. Please note that all of these cases are a bit complex and that, as a buyer, you should only interact with the owner of the land authorized by the joint development contract. In many cases, the indirect beneficiary of these transactions, i.e. the signatory of the family comparison contract, goes directly to the buyers to conclude the agreement. The likelihood of fraud/fraud is high in such cases. Therefore, any agreement should be made directly with the owner of the land whose name is mentioned in the JDA. Finally, you should also check the copy of GPA or Family Settlement Agreement and review to get more clarity.
If the owner retains his share of the built-up area, construction agreements with the developer should be entered into and the same thing should be recorded. Stamp duty and registration fees would be 2% of construction costs, and this document must be registered with the Sub-Registry Office, which is responsible for locating the property.