To be quite honest, personally, I am not comfortable buying a property with incomplete documentation. If you share a property of landowners, then you should first be insured by a bank on real estate credit. If the owner/landowner only offers home loans from the Housing Finance Company, then there is no doubt that something is missing. Always remember that this is your hard-earned money and that there should be no compromise in legal compliance. After reviewing the landowner, the developer outlines his intention to develop the land. This offer consists essentially of the percentage of the built-up area that must be offered to the owner at the cost of the land and the amount of the refundable or non-refundable deposit that must be paid by the developer to the landowner. The percentage of the space or housing available to the owner is calculated based on several factors such as the cost of the land, construction costs, escalating construction costs, construction approval costs, marketing and administrative costs, and, most importantly, the sale price of housing in that area. In short, it is important to build in case you buy land shares and I keep pointing out these points in my contributions. Therefore, a buyer should either require the NOC builder or perform a tripartite attribution deed between the buyer, the landowner and the owner. In most cases, the owners refuse to sign the deed of award or issue NOCs. In such cases, it is best to avoid the purchase of such real estate. Thus, the owners and developers are teaming up for a joint venture project to develop the land for the benefit of both.
In order to avoid probable disputes, misunderstandings between them and the completion of the project, they conclude a joint enterprise agreement clearly specifying the terms of the transaction. The development agreement must be written and registered. The landowner hands over the land and equipment to the contractor. The contractor will provide a reflection service for the construction of real estate. 1. The landowner should withdraw 1/5%/12% of GST from customers depending on the type of activity. In some cases, they say we know the value of the soil. So we`re going to do some calculations after we exclude the value of the land from the flat value. 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.