Project Development Agreement for Commercial Retail Building

Prepare a contract for development of certain lands in India with this template Land Development Agreement.

• Nature of Land. The land is vacant and is under reservation under a sanctioned development plan.
• Right to Develop. The land owners grant the developer the exclusive right to develop the property on an as is, where is basis.
• Power of Attorney. The owners agree to give the developer power of attorney on their behalf to deal with public authorities and obtain sanction of the plans for the development.
• Security. The developer will be entitled to secure the property against unauthorised trespassers or squatters on the land, and will have the authority under the power of attorney to act on behalf of the owners in this regard.
• Construction. After obtaining the required consents and sanctions, and upon paying the owners the full amount of consideration, the developer will be entitled to commence construction.
• Taxes and Levies. The owners will pay all taxes, assessments and outgoings on the land up to the date that the developer takes possession. Thereafter the developer will be responsible for paying the same.
• Expenses. All expenses and costs involved in the transaction, including stamp duty and registration but not including advocates’ professional fees, will be paid by the developer.