DEVELOPMENT AGREEMENT

THIS DEVELOPMENT AGREEMENT is made at Indore on this

the day of ………….. A.D. ….

BETWEEN

Ajay Bhatnagar, PAN NUMBER………. , Adhar No……….. son of Shri Rajendra

Swaroop Bhatnagar residing at Bareilly, Uttar Pradesh by faith Hindu, by
Nationality Indian,
Herein after referred to and called as the “OWNER (s)”

(which expression shall unless excluded by or repugnant to the

context or subject be deemed to mean and include their
respective legal heirs, successors, legal representatives,
administrators, executors and assigns) of the FIRST PART;

AND

Landmark Builders (Proprietorship Pawan Upadhyay, PAN-………, Adhar

No……….. having place of business at Indore, son of ………., residing at Indore
by faith Hindu, by Occupation Businessman, by Nationality Indian, hereinafter
referred to and called as the ‘DEVELOPER (s)’

(which terms or expression shall unless excluded by or

repugnant to the context or subject be deemed to mean and
include its Successors-in-Office, legal heirs/heiress, executors,
administrators, legal representatives and assigns) of the
SECOND PART.
NOW THIS AGREEMENT WITHNESSETH and it is hereby
agreeing upon by and between the parties hereto on the
following terms and conditions.

ARTICLE – I - DEFINITIONS

In this present unless there is anything repugnant to or

inconsistent with: -

1.1 OWNER(S): shall mean the aforesaid Ajay Bhatnagar and

their respective legal representatives administrators,
executors, and assigns.

AND

1.2 DEVELOPER(s) : shall mean and include Pawan

Upadhyay and their Partners, Successors-in-Office, legal
heirs/heiress, executors, administrators, legal representatives
and assigns

1.3 TITLE DEEDS: shall mean all the documents of title

relating to the said land and premises.

1.4 PREMISES/PROPERTY: shall mean ALL THAT piece and

parcel of land as described in the “A” schedule of this deed
described herein below

1.5 NEW BUILDING: shall mean the Multistoried Building (G+

upper-storied) as per available sanctioned area, which is to be
constructed over the said premises as per plan to be
sanctioned by the concerned Municipality / KMC / Municipal
corporation / panchayet.
1.6 COMMON AREA FACILITIES AND AMENITIES: shall
mean and include, corridors stair ways, passage ways, drive
ways, Common lavatories, tube well, overhead water tank,
water pump and motor and all other facilities which is to be
attached with the proposed Building for better enjoyment as
Apartment Ownership Act or mutually agreed by and between
the owners and the Developer.

1.7 COVERED AREA: shall mean the area covered with outer
wall and constructed for the unit including fifty Percent area
covered by the common partition wall between two units, and
cent percent area covered by the individual wall for the unit
plus proportionate area share of stair/lobby/other facilities etc.
It is applicable for individual unit.

1.8 SALEABLE SPACE: shall mean the

flat/units/Garage/Parking space in the building available for
independent use and occupation of the self-contained flat after
making due provision for common amenities and facilities for
better enjoyment against consideration.

1.9 SUPER BUILT UP AREA OF THE

FLAT/UNIT/SPACE/GARAGE/PARKING: shall mean and
include the total covered area of the unit plus minimum 20%
service area, over the aforesaid total covered area, is
applicable for individual unit.
1.10 BUILDING PLAN: shall mean such plan to be prepared
by the Architect/ Engineer/L.B.S. for the construction of the
building and to be sanctioned by the concerned Municipality /
KMC / Municipal corporation / panchayet. Be it mentioned here
that the Building Plan will be sanctioned in the name of the
Owners at the cost of the Developer with such addition,
alteration or modification as prescribed and/or made afterwards
by the Developer from time to time through the owners or by
themselves.

1.11 OWNERS’ ALLOCATION shall be 60% of area

(saleable area) or 60% revenue as the case may be.

Description of flats under owners allocation :

TYPING OPTION

All the Flats shall have the undivided proportionate share or

interest of underneath land along with proportionate rights on
all common areas and facilities of the proposed building, which
is constructed and/or to be constructed as per Building Plan
and/or its added and/or Revised Plan, which was be duly
sanctioned by the concerned Authority.

1.12 DEVLOPERS’/PROMOTERS’ ALLOCTION: shall mean

the remaining constructed area after providing the Owners’
allocation in the proposed building to be constructed on the
said premises including proportionate share of the common
facilities and amenities.

1.13 TRANSFER: shall mean and included transfer by

delivered of possession as per present customs or by any other
means adopted by the Developer for effecting transfer of the
proposed building or flat to the intending purchasers thereof
against valuable consideration.

ARTICLE - II : COMMEENCEMENT & DURATION

2.1 This agreement shall be deemed to have commenced on
and from the date of execution of this Agreement and
thereafter sale out of all the flat/units/Garage/Parking
space to the intending purchasers and also after delivery
of possession to the flat owners and land owners and after
formation of the flat/unit owners’ Association, if required,
this Development Agreement will be coming to an end.

ARTICLE – III: OWNER’S DECLARATION, RIGHTS AND

RESPONSIBILITIES

3.1 The owner (s) hereby declare that he/she/they is/are the
single / joint and absolute owner (s) of the scheduled property
and now seized and possessed of or otherwise well and
sufficient entitled thereto without any disturbance hindrance in
any manner whatsoever and the said property is free from all
encumbrances charges, attachments, acquisition or requisition
whatsoever or howsoever and the owners have good and
marketable title over the said land.
3.2 That the owner (s) hereby agreed that he /she/they will not
grant lease, mortgage, charge or encumber the scheduled
property in any manner whatsoever during the existing/
substance of this agreement as well as during the construction
of the building without prior written consent of the Developer
and also undertakes that for the betterment of the Project shall
acquire and to produce all the relevant papers documents and
copy of the order if any from the competent Court Authority
Concern.

3.3. That the owner (s) hereby agree to sign, execute

Registered Development Power of Attorney and also all the
petitions, Affidavit, Deeds, Plaints, written objection, proposed
site plan, Building plan, Completion Plan, Declaration of
Amalgamation, Deed of Amalgamation, Agreement for Sale and
all other necessary Documents in favour of the Developer or its
Nominated person or persons for betterment of the
construction over the schedule land and adjacent land and
betterment of project and also for the betterment of title over
the Schedule property and the owner (s ) also agreed to pay all
the costs and expenses of the documents in up-to-date
condition and for betterment of Title of the property of the
owner ( s ) herein.

3.4 That the owner(s) hereby undertake(s) to deliver

and/or handover all the Photostat copy of all the Deeds
and documents to the Developer(s) at the time of
execution of this Agreement.
 3.5 That the Owner(s) hereby giving exclusive license to
the Developer(s) to commercially exploit the same as
per terms and condition contained in this Agreement
and hereby authorized the Developer(s) to enter into
agreement for sale, lease, transfer, mortgage and to
dispose of the Developer’s Allocation together with
right to assignment of all the rights title interest of this
agreement to any third party and the owner(s) will give
necessary consent for betterment of this project
without raising any objection to that effect save and
except the owners’ allocation as mentioned.

3.6 The Owner(s) hereby agree to execute a Registered

Development Power of Attorney in favour of the Developer(s) or
its nominated person/s in respect of the Developer’s Allocation
and also for the purpose of addition, alteration, revision of the
sanctioned building plan, Completion Plan for construction and
completion of the work as per Agreement and also to sign on
the Deed on or behalf of the owner and to present the same
before the District Registrar, Addl. District Sub-Registrar or
other Registrars, who has authority to register the Deed of
transfer and other documents and if required owners will put
their signature on the Agreement for Sale, Deed of conveyance
after delivery of possession of the owner’s allocation. It is also
further agreed that for the purpose of betterment of the
intending purchasers, if required, the owner (s) herein will join
in the Deed of Conveyance as owners for Transfer the Flat to
the intending purchaser(s).

3.7 The owner(s) hereby undertake(s) not to do any act, deeds

or things by which the Developer(s) may prevent from
executing any Deed of Conveyance in favour of the intending
purchaser or Purchasers of the Developer’s Allocation. If the
Developer(s) fail(s) to deliver possession of the owners’
Allocation within the stipulated period, then the owner(s) will be
entitled to get compensation/damages from the Developer(s)
as deemed fit by the Developer(s). Be it mentioned here that
the Time will be essence of the contract.

3.8 That the Owner(s) hereto without being influenced or

provoked by anybody do hereby categorically declared that the
Developer(s) shall continue to construct the building exclusively
in the name of the Developer(s)/Development Firm and also by
taking partner in the Firm at its own cost, arrangement and
expenses as well as the Owner(s) shall have no financial
participation and or involvement. The Developer(s) shall
handover the complete habitable peaceful vacant possession of
the Owner’s Allocation within 18 months from the date of
execution and registration of this Agreement, which is later and
the time is the essence of this Contract and such time shall be
enhanced and/or extended for another 06 months for any force-
majeure, acts of God and/or other reasons which is or are or
shall be beyond control of the Developer(s) and if the
Developer(s) will fail or neglect to handover the possession of
Owners’ Allocation within the said stipulated 24 months from
the date of obtaining the Sanctioned Building Plan, then in that
case the Owner(s) shall have every right to take legal steps
with due process of law.

3.9 The Owner (s) shall have the right over the terrace to
develop a Penthouse which he / they may get constructed by
the developer himself on the mutually agreed rates, terms and
conditions under a separate agreement.

ARTICLE – IV:

DEVELOPER’S RIGHTS, OBLIGATION AND DECLARATION

4.1 The Developer(s) hereby agreed to complete the multi-

storied (G+Upper-storied) building over the property as per
plan as sanctioned by the concerned Municipal Authority/ KMC/
Municipal corporation/ panchayet concern with due
modification or amendment of the sanction plan as made or
caused to be made by the Architect /Engineer/L.B.S. of the
Developer. Be it pertinent to mention here that at present the
Plan of G+Upper-storied Building will be submitted for sanction
before the concerned Municipality/ KMC/ Municipal corporation/
panchayet.

4.2 The Developer(s) hereby declares to take care of the local

hazards or accident during the continuation of construction and
the owners shall have no liability to that effect.

4.3 All applications plans papers and documents as may be

required by the developer(s) for the purpose of sanction of
Plan, Revised plan, Addition/ Alteration of the building plan shall
be submitted by the developer(s) with due signature of the
owner(s) or on behalf of the owners as may be required and all
costs expenses and charges be paid by the developer(s) and
also for construction of the building thereon and the
Developer(s) will pay all the payments and expenses required
for clearance of the occupier thereof, either in cash or in area
or in any other lawful manner.

The Developer(s) hereby agreed to deliver possession of the

owners’ allocation in the proposed new building within
aforesaid stipulated months from the date of execution and
Registration of this Agreement, and if required, the owner(s)
will further allow aforesaid stipulated months for delivery of
possession of the owners’ allocation without claiming any
damages. It is also agreed that the delivery of
possession of the owners’ allocation will be made first
and after that the Developer(s) will be entitled to
handover possession of the Developer’s Allocation and if
required benefits of the parties hereto before or after
completion of the building necessary supplementary
Agreement will be executed. Be it pertinent to mention here
that the Developer(s) will obtain Completion Certificate
(C.C.) at its/his/her/their own cost expenses and Xerox
copy of the same will be given to all the owner(s)/occupier(s) of
the units of the newly constructed building.
4.4 That the notice for delivery of possession of the owners’
Allocation shall be delivered by the developer(s) in writing or
though the Advocate of the Developer(s) either by Registered
post or courier service or under certificate of posting or hand
delivery with acknowledgement due card and the owner(s) are
bound to take possession within 90 days from the date of
service of this letter. If the owner(s) fail(s) to take delivery of
possession or neglected to do so, then it will be deemed that
the owner’s allocation already delivered and the Developer(s)
shall be entitled to transfer the Developer’s Allocation without
any further notice.

4.5 That the Developer(s) shall have every responsibility for

the incidents occurred during the course of construction as well
as for the quality of the work after completion also and the
Owner(s) shall have no responsibility for the same.

ARTICLE – V. CONSIDERATION & PROCEDURE

5.1 In consideration of the construction of the owners’

allocation in the building and other consideration of any
mentioned in the owners’ allocation, the Developer(s) is/are
entitled to get remaining constructed area of the building and
proportionate share of the land as Developer’s allocation.

5.2 That if the Developer(s) fail(s) to complete the construction

work in respect of the owner’s allocation within the stipulated
period as stated above, and then the Owner(s) shall have
liberty to rescind this Agreement on re-payment of the cost and
expenses as well as the consideration money paid by the
Developer(s) as per mutual calculation of the parties. Be it
mentioned here that time will be essence of the contract.

ARTICLE – VI. DEALINGS OF SPACE IN THE BUILDING

6.1 The Developer(s) shall on completion of the building put

the owner(s) in undisputed possession in respect of the owners’
allocation together with the right to enjoy the common facilities
and amenities attached thereto with other of the units/shops
etc.

6.2 The Developer(s) being the party of the Second part shall
be at liberty with exclusive rights and authority to negotiate for
the sale of the flats/ units/unit/ space together with right to
proportionate share of land excluding the space/units/flat
provided under the Developer’s Allocation in the premises to
any prospective buyer/s before, after or in course of the
construction work of the said building at such consideration and
on such terms and conditions as the Developer(s) shall think fit
and proper.

6.3 The Developer(s) shall at /his/her/their/its own costs,

construct and complete the building at the said premises
strictly in accordance with the sanctioned plan and due
modification if any with such material and with such
specification as are to be mentioned in the sanctioned plan of
the building hereunder written and as may be recommended by
the Architect/Engineer from time to time. The Developer(s)
shall on completion of the building shall obtain
Completion Certificate from the Appropriate Authority
concern at its own costs and expenses.

6.4 That the developer(s) shall install erect and shall provide
standard pump set, overhead and underground reservoirs,
electric wiring, sanitary fittings, and other facilities as are
required to be provided in respect of building having self-
contained apartment and constructed for sale of
flats/shops/garages/Parking area on ownership basis and as
mutually agreed. Be it mentioned that the security money
deposit for the new electric meter connection shall be paid by
the owner(s) to the Developer(s) for their respective meters in
the individual name(s) of the Owner(s). It is also mentioned that
the Developer(s) will fix the sale rate for flat/garages etc. for
Developer’s allocation without consultation of the owner(s).

ARTICLE – VII. COMMON FACILITIES

7.1 The Developer(s) shall pay and bear all property taxes and
other dues and outgoings in respect of the building accruing
due on and from the date of execution of the agreement or
before and after handing over the possession of the flats all the
flats owner(s) will pay due according to his/her/their shares.

7.2 As soon as the respective self-contained flat is completed

the developer(s) shall give written notice to the owner(s)
requiring the owner(s) to take possession of the owner’s
allocation in the newly constructed building and after 90 days
from the date of service of such notice and at all times,
thereafter the owner(s) shall be exclusively responsible for
payment of municipal and property taxes rates duties dues
electric installation charges electric charges bill and other
public outgoings and impositions whatsoever (hereinafter for
the sake of brevity referred to as “the said rates”) payable in
respect of the owners’ allocation the said rates to be
apportioned prorata with reference to the saleable space in the
building if any are levied on the building as whole.

7.3 The Owner(s) and Developer(s) shall punctually and

regularly pay for their respective allocation the said rates and
taxes (including GST and other taxes) to the concerned
authorities as levied by the Central or State Govt. or other
Appropriate Authorities or otherwise as may be mutually
agreed upon between the Owner(s) and the Developer(s). The
owner(s) hereby agreed that he/she/they shall keep each other
indemnified against all claims actions demands, costs, charges
and expenses and proceeding instituted by any third party or
against the owner(s) for the same the developer(s) will be
entitled to get damages.

7.4 The owner(s) or his/her/their agents or representatives or

any third party of the owners’ behalf shall not do any act
deed or things wherein the developer(s) shall be
prevented from construction and completing of the said
building or to sale out the flat/units to the intending
purchaser/purchasers. If the developer(s) is prevented by
the owner(s) without any reasonable and/or justified
reason, then the owner(s) or his/her/ their legal
representative(s) shall pay bound to indemnify the loss
 and pay damages with interest and such delay will not be
calculated within the stipulated time.

ARTICLE – VIII. COMMON RESTRICTIONS

THE OWNERS’ ALLOCATION AFTER POSSESSION IN THE

PROPOSED BUILDING SHALL BE SUBJECT TO THE SAME
RESTRICTION AND USE AS IT IS APPLICABLE TO THE
DEVELOPER’S ALLOCATION RESPECTIVE POSSESSION IN
THE BUILDING WHICH ARE FOLLOWS: -

8.1. Neither party shall use or permit to the use of the

respective allocation in the building or any portion thereto for
carrying on any obnoxious illegal and immoral trade or
activities nor use thereto for any purpose, which may cause
any nuisance or hazard to the other occupies of the building.

8.2. Neither party shall demolish any wall or other structure in

their respective allocation or any portion thereof or make any
structural addition or alteration therein without previous written
consent from the owner, developer or from the competent
authority or from KMC/ municipal / Municipal
corporation/panchayet authority concern in this behalf.

8.3. Both parties shall abide by all laws, bye laws rules and
regulations of the Government Statutory bodies and/or local
bodies as the case may and shall be responsible for any
deviation and/or breach of any of the said laws and regulations.
8.4. The respective allotee or their transferees shall keep the
interior walls, sewers, drains pipe and other fitting and fixtures
and appurtenances and floor and ceiling etc. in each of their
respective allocation in the building in good working conditions
and repair and in particulars so as not to cause any damage to
the building or any other of them and/or the occupiers of the
building indemnified from the against the consequence of any
breach.

8.5. No goods or other items shall be kept by either party or

their transferees for display or otherwise in the corridors or
other place of common use in the building and no hindrance
shall be caused in any manner in the free movement of user in
the corridors and other places of common use in the building.

8.6. Neither party nor their transferees shall throw or

accumulate any dirt, rubbish waste or refuse or permit the
same to be thrown or accumulated in or about be building or in
the compounds corridors or any other portion or portions of the
building.

8.7. Neither the parties or their transferees shall permit other

agent with or without workmen and other at all reasonable
times to enter into and upon each party’s allocation and each
part thereof for the purpose of maintenance or repairing any
part of the building and/or for the purpose of repairing
maintaining rebuilding and/or for the purpose of repairing
maintaining rebuilding cleaning lighting and keeping in order
and good condition any common facilities and/or for the
purpose of pulling down, maintaining, repairing and testing
drains and water pipes and electric wires and for any similar
purpose.
ARTICLE – IX. OWNER’S DUTY & INDEMNITY

9.1. The owner(s) hereby agree and covenants with the

Developer(s) not to use cause any interference or hindrance in
any manner during the construction and throughout the
existence of this agreement of the said building at the said
premises and if any such interference or hindrance is caused by
the owner(s) or their heirs, agents, servants, representatives
causing hindrance or impediments to such construction the
owner(s) will be liable to repay entire amount invested by the
developer(s) amount will be settled by the parties amicably. It
is also further agreed that if the developer(s) is prevented for
making construction due to any litigation cropped up or due to
any restraining order passed by the competent court of a
competent Authority Concern or any statutory body law or due
to any boundary dispute amongst the contagious land owner(s),
then owner(s) will be liable to pay cost of litigation to the
Developer(s), which will be incurred by the Developer(s).

9.2. The owner(s) or their legal representative(s) herein will

have no right/ authority power to terminate and/or determinate
this agreement within the stipulated period for construction of
the building as well as till the date of disposal of all the
flats/shops/units of the Developer’s allocation or without the
violation of the terms and conditions of this Agreement. If tried
to do so then the owner(s) shall pay firstly total market price of
the constructed area with damage together with interest on
investment intimation for such intention.

9.3. It is agreed that the owner(s) will not involve any of their
workmen, contractor, agent or representative etc. or stag any
constructional materials in the building for any type of
constructional work if required in respect of the owners’
allocation in the building without any written consent from the
Developer(s).

9.4. That the owner(s) and their legal heirs hereby declare and
undertake that upon the demise of the owner/one of the
owners, the legal heir(s) of the said owner/owners will join the
Development Agreement and also execute fresh Power of
Attorney and also other required documents in favour of the
Developer(s) and also for the betterment of the project on the
same terms and conditions mentioned herein.

ARTICLE – X. DEVELOPER’S DUTY

10.1. That the Developer(s) hereby agree(s) and covenants

with the Owner(s) not to do any act, deed or things whereby
the Owner(s) /is/ are prevented from enjoying selling disposing
of the owners’ allocation in the building at the said premises
after delivery of Re-possession thereof to the owner(s) and also
obtain Completion Certificate (C.C.)/Occupancy Certificate from
the competent Authority at its own costs and expenses.
10.2. The Developer(s) hereby undertake/s to keep the
Owner(s) indemnified against all third party claims and actions
arising out of any sort of act or omissions of the Developer(s) in
relating to the making of construction of the said building. The
developer(s) shall also not interfere in any manner whatsoever
to the sale proceeds and/or otherwise with regard to the
owners’ share or allocation and also not to claim any amount
from the sale proceeds of the owners’ allocation.

ARTICLE – XI. MISCELLANEOUS

11.1 The Owner(s) and Developer(s) hereto have entered into

this agreement purely as a contract and under no circumstance
this agreement shall be treated as partnership by and between
the parties and/or an Association of persons.

11.2 As and from the date of getting Completion Certificate of

the building the developer(s) and/or its transferees and the
owner(s) and/or his/her/their transferees shall be liable to pay
and bear proportionate charges on account of ground rents and
GST and other taxes, charged by the Govt. or Semi Govt. or
local authority concern. And the proportionate cost towards
regular maintenance charges.

11.3 The building to be constructed by the developer(s) shall

be made in accordance with the specification more fully and
particulars mentioned and described in the schedule annexed
in separate sheet which will be treated part of the agreement.

ARTICLE – XII. FORCE MAJEURE

12. The parties hereto shall not be considered to be liable for

any obligation hereunder to the extent that performance of the
relative obligation is prevented by the existing of “Force
Majeure” and shall be suspended from obligations during the
duration of the Force Majeure, which also includes non-
availability of Building materials due to Government
Notifications or against notification or rules and regulations of
the other appropriate authority and also includes mass
stopping of work in the locality against notification or rules and
regulations of the other appropriate authority.

ARTICLE – XIII. ARBITRATION CLAUSE

13. It is hereby agreed by and between the parties that all

dispute and/or difference by and between the parties hereto in
any way relating to or connected with the flats and or
construction and or in respect of this agreement and/or
anything done in pursuance hereto and/or otherwise shall be
referred for arbitration, which will adjudicated in accordance
with the Arbitration and conciliation Act, 1996, or any
amendment thereon as may be applicable.

In case agreement unless it is contrary or repugnant to the

context.
a) Singular shall include the plural and vice-versa.
b) Masculine shall include the feminine and vice-versa.

14) Any others points to specify:

TYPING OPTION, ONE HUNDRED WORDS

SCHEDULE OF PROPERTY
(Said Property)

All That piece and parcel of………… land measuring about ……………..
decimal / cottah, more or less, together with a ……………storied
…………….structure / covered garage / open garage of ………………. sqft
covered area with………. flooring and roof type ………….. of
age……………years , …….., lying and situated in R.S. Plot Number ………..
& corresponding L.R. plot Number…………., recorded in R.S. Khatian
Number ………………. and corresponding L.R. Khatian Number at Mouza
…………, J.L. Number…………., Touzi Number …………..under Police
Station …………. , in the office of …………….., in the district of
…………….. under the jurisdiction of …………….. Gram Panchayat /
Municipality / Municipal Corporation , recorded as Holding No. ………….,
premises number …………………..under the jurisdiction of Ward No.
…………… of ………….. Municipality/ Municipal Corporation / kmc / Gram
panchayet , butted and bounded as follows:

On the North:
On the South:
On the East:
On the West :

(SPECIFATION OF CONSTRUCTION FOR THE

FLATS/ UNITS)

TYPING OPTION

IN WITNESS WHEREOF the parties hereto have set and

subscribed their respective hands and seals on the day, month
and year first above written.

SIGNED SEALED AND DELIVERED

In the presence of the following
WITNESSES:–
1.
2.

SIGNATURE OF THE OWNER(S)

___________________________
_________

SIGNATURE OF THE
DEVELOPER(s)

Drafted by me as per instructions of the Parties hereto

Read over and Explained by me and
Prepared in my office: -

MEMO OF CONSIDERATION ( IF ANY )

Witnesses :

1.

2.