COLLABORATION AGREEMENT
This collaboration Agreement is made at New Delhi on this ………….day of ………………, between :-
1. Mr. ………………..S/o ……………………, R/o …………………………………….,
2. Mr. ………………..S/o ……………………, R/o …………………………………….,
3. Mr. ………………..S/o ……………………, R/o …………………………………….,
4. Mr. ………………..S/o ……………………, R/o …………………………………….,
Hereinafter called ‘The Owners’. (which expression shall mean and include his legal heirs, successors, legal representatives, administrators, executors, nominees and assigns).
AND
Hereinafter called ‘THE BUILDER’ (which expression shall mean and include its successors, legal representatives, administrators, executors, nominees and assigns).
Whereas by virtue of freehold property in respect of a residential plot of land bearing No. ……, measuring …… sqyd situated in the lay-out plan known as ……………… within the limits of Municipal Corporation of Delhi (hereinafter referred to as ‘THE SAID PLOT OF LAND’) vide
- Sale Deed dated …………………., duly registered as Document No. ……., in Add. Book No. I, Volume No. ……, on pages ….. to …., on …………, in the office of the Sub-Registrar,
- Where as both No 1 and No 2 purchased the same from Sh…………………….., S/o …………………………….., R/o ………………………………….
- Where as the same Purchased from Mrs. …………………., w/o Mr ……………., duly registered in the officer sub registrar New Delhi Sale Deed No ………, in address book No. I, volume no …….., on pages ….…….to …………, dated ………………,
- Where as the same purchased from Mrs …………………, w/o ……………….., R/o ………………….., sale deed No ………………, Volume No …………, Add Book No …….. on pages ……. To ……., dated in the office sub registrar
- Where as the same purchased from M/s ………………………………, Regis. No. …………….., Ad. Book No I, Volume No …………, on pages ………. To ……. Dated ………………
AND WHEREAS ………………… at his own cost and out of his personal earnings after obtaining the necessary approvals and sanctions from M.C.D. constructed a building comprising of Ground Floor, First Floor and Second Floor, fitted with all amenities such as water, electricity and sanitary connections on the said plot of land. (The said plot of land along with super-structure standing thereon are hereinafter collectively referred to as ‘THE SAID PROPERTY’, which expression shall include all improvements, additions and alterations subsequently made therein or thereto as well as ll fixtures and fittings contained therein and the benefit of all water, electricity, power and sewerage connections therein and deposits relative thereto).
AND WHEREAS the Owners have further represented & heldout that the Owners are the absolute and exclusive Owners of the said property and well and sufficiently entitled to the Freehold rights in respect of the said plot of land measuring 311 Sq. Yds., and the owners have full rights, absolute authority to sell, dispose off and transfer and go to collaboration the same in any manner the Owners likes.
AND WHEREAS the Owners are desirous to get the said property re-develop/re-construct:
- By the Builder who have lot of experience in constructions.
- They approached the Builder to develop the said property for and on behalf of the Owners at Builder’s cost.
AND WHEREAS the Builder is engaged in the business of promotion, development and construction of real estate and is well established in this business for the last many years.
AND WHEREAS the Owner has represented that the said property is free from all sorts of encumbrances charges, liens, claims, lease, prior agreements and except the Owners no other person has any right, title or interest in the said property in any manner whatsoever and the Owners has full power and authority to enter into this agreement.
That the Owner hereby further assures, represents and covenants with the Builder as follows:
a) That the said property is free from all kinds of encumbrances such as prior sale, gift, mortgage, disputes, litigation, acquisition, requisition, attachment in the decree of any court, lien, court injunction, notices, claims, demands, will, Trust, Exchange, lease, loan, surety, security, stay order, prior agreement to sell etc. etc.
b) That there is no order of attachment by the Income Tax Authorities or any other authorities under law for the time being in force or by any other authority nor any notice of acquisition or requisition has been received in respect of the said property.
c) That there is no legal impediment or bar whereby the Owner can be prevented from selling, transferring or entering into any contract with any person or persons.
d) That there is no notice of default or breach on the part of the Owner or his pre-decessors in interest of any provisions of law in respect of the said property.
e) That the Owner is in exclusive possession of the said property and no other person or party has any right, title, interest or share therein.
f) That the said property is not subject matter of any HUF and that no part of the said property is owned by any minor.
g) That there are no reservations affecting the said property and the said property falls within the residential zone and there are no impediments in carrying out construction thereon.
That in case any of the representations/assurances made by the Owner is found to be untrue and/or if the whole or any portion of the said Builder’s Allocation (fully described below) is ever taken away or goes out from the possession of the Builder on account of any legal defect in the ownership and title of the Owner, then the Owners will be liable and responsible to make good the loss suffered by the Builder and shall keep the Builder saved harmless and indemnified against all such costs, damages losses, suffered by the Builder, from his properties.
AND WHEREAS the Owner and the Builder have agreed to develop, construct and build a fresh building on the said plot of land, hence this agreement has been mutually entered and executed between the Owners and the Builder, on the terms and conditions, appearing hereinafter.
NOW THIS COLLABORATION AGREEMENT WITNESSETH AS UNDER :
That the Subject matter of this Collaboration of this Agreement between the parties is the existing property bearing No. ………………….
That the Builder shall demolish the existing structure on the said plot of land and develop, construct and/or build a building consisting of Ground Floor, First Floor and Second Floor, Third Floor with terrace, at its own costs and expense, after getting the building plans sanctioned from the authorities concerned.
That the Builder shall develop, construct and complete the Building at its own costs and expenses approvals for development construction and completion of the said building on the said plot at Builder’s cost.
That it has been clearly agreed between the parties that the malba realized from the demolition of the existing structure shall belong to the Builder who shall have full right to sell the same and receive the proceeds thereof, without any claim or right of the Owners in the same.
The Builder agrees to prepare building plans in accordance with the building bye-laws as applicable on the said property or as may be prescribed by the authority or authorities concerned with the development on the said property from time to time and as agreed between the Owner and the Builder. The Builder shall make its full efforts for obtaining permission for the maximum area to be covered on the said property. The total FAR sanctioned on the said plot of land shall be divided equally on all the three floors i.e. ground , first and second floors. All the fees/payment and expenses incurred in the matter of sanctioning of plans will be borne by the Builder.
The Owner has authorised the nominee of the Builder along with General Power of Attorney, to apply for necessary sanctions and permissions, approvals to the authority or authorities concerned and shall also pursue and co-operate with the Builder in obtaining such or all other permissions, approvals as may be necessary or required for ensuring the due execution of the proposed work of development and construction of the proposed building.
That in addition to the Builder incurring the entire costs and expenses etc. shall pay to the Owners a sum of Rs. ………………………., as consideration against the rights, in the property to be transferred in favour of the Builder or its nominee/s during or on the completion of construction of the building. Out of the total consideration of Rs. ……………… to the Owners at the time of signing of this Collaboration Agreement, in the following manner :
The receipt of which the Owner hereby admits and acknowledges.
That balance amount of Rs. ……………….. shall be paid by the Builder to the Owner at the time of handing over the peaceful physical possession of the premiser.
That is addition to the Builder shall hand over the Built up share of the owner (Entire Ground Floor) which is completed as per the anexture thereafter the build can hand over his share to any other occupant or his Buyer.
That the Owner in accordance with the terms and conditions, herein recorded, have placed at the complete disposal of the Builder, the vacant physical hereof, the possession of the said property shall irrevocably, vest in the Builder, with all the powers and authorities of the Owner as may be considered necessary by the Builder for obtaining the requisite permissions, sanctions from the concerned authorities for demolition/re-construction of the proposed building and for the sale of the Builder’s share (fully defined below).
That the Owner and the Builder shall have proportionate rights in all common entrances, passages, staircases and all other common facilities and amenities provided in the proposed building.
That the Builder shall engage and employ the Architect or Architects of repute at its own costs, expenses and responsibilities for preparation, submission and obtaining approvals for developing, promoting, constructing and completing the said building on the said plot of land. The Builder shall for and on behalf of and in the name of the Owner apply to the M.C.D or such other authorities, as may be concerned, in the matter of permissions, sanctions, approvals for the construction on the said plot of land.
That the entire amount required for carrying out construction, development, completion of the said building including the charges and fees of the architect for preparation of the plans and all the other statutory and other fees and/or demands shall be wholly to the account of Builder.
That the quality of the construction of the proposed building shall be of good standard, more fully described in Annexture ‘A’ attached herewith.
That the Builder shall obtain Form ‘B1’ and ‘B2’ from M.C.D in respect of the newly constructed building.
That as mentioned hereinabove, the building shall be consisting of Ground Floor, First Floor and Second Floor with Terrace. The portions falling to the share of the parties in the newly constructed building shall be as under:
That in lieu of the land made available by the Owner to the Builder for development of the said property, the Owners shall be entitled to :
OWNER’S ALLOCATION
Owner No. - I
Entire Ground Floor Built on …………… parking consisting Four Bedrooms, attach bath, D/D, kitchen, family launch front balcony, back balcony, lift, 2 car parking inside, servant room with bathroom. Separate water tank including all bath fitting and electrical fitting, As per the attached anexture.
Owner No. – II
Transferred the all rights to the Builder
Use of common areas, facilities and services
% Undivided, indivisible and impartible ownership rights in the plot of land measuring ……. sq. yds.
That in lieu of the Builder developing the property, using its infra-structural facilities and at its own cost paying the aforesaid amount to the Owners the Builder shall be entitled to ;
BUILDER’S ALLOCATION
Entire First Floor, Second Floor and above rights as per the anexture-attached here with
Use of common areas, facilities and services
% Undivided, indivisible and impartible/ownership rights in the plot of land measuring ……………. sq. yds.
That the Builder shall have the exclusive ownership and usage rights of the Entire Terrace over and above the Entire first floor, second floor of the said property, including rights of further construction thereon upto the limits of sky.
That the Builder shall install a lift, in the said building for the common use of the owners/occupants of the Ground Floor, First Floor, Second Floor and above of the said building. The owner (s)/occupants of the Ground Floor, First Floor, Second Floor, Third Floor shall use the said Lift and accordingly shall pay perpationately maintenance charges thereof.
That the owner shall keep the said property free from all such encumbrances till the duration and complete implementation of this agreement and thereafter in all respects and do hereby keep the Builder or its nominee/nominees indemnified on all such accounts.
The Owners shall bear and pay all outstanding charges and dues of whatsoever nature payable in respect of the said property including house tax, property tax, lease money, water and electricity charges, and other dues and demands till the date of handing over the vacant possession of the said property to the Builder and thereafter the same shall be paid by the Owner and the Builder in respect of their respective allocations. However, the water and electricity charges during construction period shall be paid and borne by the Builder.
The Builder and the Owner shall be entitled to sell, transfer, convey and assign their respective portions to any prospective buyer and to receive the sale proceeds in respect thereof, in their respective names, during or after the completion of the construction, without any objection or hindrance by the other. Further the Builder and the Owner shall be fully entitled to enter into any Agreement (s) for the sale/booking of their respective allocations in the newly constructed building and shall be entitled to accept cash/cheque in their respective names. Further the Owner hereby agree to confirm, execute or enter into Agreement, if required by the Builder, between the Owner, Builder and the prospective purchaser of the portion(s) falling to the share of the Builder.
The Owner shall on the completion of the building execute or join in the execution of all documents necessary for giving the flat (s)/portion (s) buyers of Builder’s portions legal title to their respective flats/portions including their undivided share in the land underneath, without asking for any further payment.
That the Builder undertakes to complete the proposed building within a period of …. months from the date of the receipt of the sanctioned plan from the authorities concerned or from the date of vacant possession from the Owner to the Builder, whichever is later, subject to FORCE MAJEURE and further if delay is occasioned for any reason of any act or legislation or restriction, prohibition or restrained imposed by any Statutory Body and or Governmental Authority, no liability shall attach to the Builder.
That in case the Builder fails to complete the building within the abovesaid stipulated period, then the Builder shall be liable to pay a sum of Rs. One Lac per month to the Owner as penalty.
That the Owner hereby undertakes to get the said property mutated in his own names in the records of M.C.D at his own cost and expenses, within …….. months from the date hereof. The Builder shall render all assistance and co-operation if required by the Owner in this regard.
That in case there is any accident or claim from anyone including neighbours, on account of the construction of the proposed building, the Builder shall be solely responsible for the payment of claims under the Workmen Compensation Act or any other Act in force. If the Owner is ordered to attend a court or is requested to be represented by any authority in this connection, the Owner will empower the Builder or its nominees/agents to attend the court/concerned authorities on Owner’s behalf and all the expenses in this behalf shall be borne by the Builder.
This agreement shall neither be deemed to constitute a partnership between the parties hereto nor be deemed to constitute anyone as the agent of the other.
That the Owner shall not interfere with or obstruct in any manner with the execution and completion of work of development and construction of the said building except inspection of the quality control of work and correct execution of work in conformity with the approved plans and shall have the right to visit the property during construction and ensure implementation of terms and conditions of this Agreement.
That the Owner and the Builder shall themselves be responsible for all Income Tax and capital gain tax liability arising out of the sale of their respective allocations’ in the proposed building.
That no common parts of the building will be used by the owners /occupants of the said building for keeping/changing pets, dogs, birds or for storage of cycles, motor cycles nor the common passage shall be blocked in any manner.
That the proportionate common maintenance charges will be paid by all the occupants/owners of the said building in proportion of the area occupied by them.
That the owners/occupants of the said building shall have full rights of access through staircase to the top terrace at all reasonable times to get the overhead tank repaired/cleaned etc. That similar conditions shall apply to underground water tank and booster pump etc.
That the owners/occupants of the said building shall have, as a matter of right, right to use all common entrances, passages, staircases and other common facilities as are available in the said building including Antina.
That all the expenses for the execution of the Sale Deed/Conveyance Deed /Conveyance Deed of the Builder’s Portions including the right in the land, such as stamp duty, registration charges etc. shall be borne and paid entirely by the Builder or its nominees.
That all relevant documents in original in respect of the said property have been handed over by the Owner to the Builder. The Builder shall return back the said documents to the Owner on completion of the building and thereafter the Owner shall keep the said documents in trust for the Builder and its subsequent transferee/nominee and shall show/produce the same as and when asked/required by the Builder and shall not encumber the same with respect to the Builder’s allocation under any circumstances.
That this transaction has taken place at New Delhi
IN WITNESS WHEREOF both the parties have signed this agreement at New Delhi
WITNESSES:
1.
OWNER
2.
BUILDER
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