On February 11, 2011, we reached an agreement with the four owners to build housing for us, but instead of building the whole country, they got in their own name from the Kolkata Municipal Corporation. After two years, we got the separate nos.Power of Attorney rating was canceled. The owners in question had merged the four lands into one country. The question now is whether the merger act and the notorious agreement will now be emotional. How long is the development contract? The merger deed must be revoked or not, as the Assessee was not created separately. Please answer Is it safe to buy apartments under construction? Even home loans don`t guarantee that the documentation is clear and doesn`t guarantee that you`re safe! Before you buy an apartment, you must have a title and document search done by a competent lawyer. You can`t do it yourself. You must hire a competent lawyer. It is a professional job that must be done with the help of a professional. Often people suggest that if you plan to buy an apartment, the best way is to buy it through a bank loan.
They carry out all checks, including the owner`s credentials, to ensure that the market value of the security does not decrease. So even if you have enough money, you take out a small loan from a bank to get it involved in the whole process. Later, if you wish, you can pay the loan in advance, as this does not result in a penalty. This is the biggest investment of your life and it usually requires immense sacrifices. But taking your savings and signing up for a bank loan doesn`t guarantee that the house of your dreams will come into being. What if, after spending time and money looking for documents by competent lawyers and a home loan, they would also not guarantee their home? Yes, it is true, even after proper searches and steps to make no mistakes, the owners can take advantage of each small loop hole in different chords to their advantage and delay your property or even bother you. Most real estate projects are carried out on the basis of a joint venture. A joint development agreement is an agreement between a landowner and the project owner/promoter for each joint real estate business project. A joint venture is a joint venture where a landowner with land or land to be built with building land enters into an agreement with the owner for the construction of new projects. In this way, capital, construction and law work is carried out by the owner, while the land is made available by the owner.
Typically, the landowner and the owner share the profits in a certain proportion, say 60:40 or 50:50 based on location, construction costs, development costs, etc. Case study: a renovation project in Kurla (W) in Mumbai was jointly developed by a renowned owner and landowner where, in proportion to the owner and owner, there was 50-50 of the free selling area. However, the costs of building the original tenants` dwellings should be borne by the landlord according to the invoices provided by the developer. The owner was allowed to sell 75% of his 50% share to pay the developer the cost of building the rental part. The remaining 25% of the property should only be sold after the owner pays all taxes to the developer. Accommodation has been allocated to the landowner as part of the JDA with specific flatnmbers. The agreements between the owner and the developer clearly stated which units the owner should not sell, unless he pays all the taxes to the developer and which dwellings the owner was allowed to sell to allow him to pay the developer. Owners and developers have in principle sold their individual share of the dwellings on the basis of the joint development agreement between them, but the owner has sold some 25% apartments that he should not sell, unless he pays all taxes to the