Agreement for Transfer of Development Rights in Marathi

AGREEMENT FOR TRANSFER OF DEVELOPMENT RIGHTS

THIS AGREEMENT made at ................      this ........................ day of      ........................, 2000,  between M/s XYZ Builders, a firm registered under Indian Partnership Act, 1932, having their office at Bombay, (hereinafter referred to as the Vendors, which expression unless repugnant to the context or meaning thereof mean and include the partners for the time being of the said firm, their survivor or survivors and the heirs, executors and administrators of last survivor) of the FIRST PART, ABC Developers Pvt. Ltd. Co., incorporated and registered under the Companies Act, 1956 having their office at .................... hereinafter referred to as "(The Confirming Party", which expression shall unless be repugnant to the context or meaning thereof be deemed to include its successors and assigns) of the SECOND PART and M/s. MNP Builders & Developers, a firm registered under Indian Partnership Act, 1932 having their office at ............................ hereinafter referred to as "The Purchaser" which expression shall unless be repugnant to the context or meaning thereof mean and include the partners for the time being of the said firm, their survivor or survivors and the heirs, executors and administrators of such last survivor) of the THIRD PART.

WHEREAS by two deeds of Conveyance all made between ____________.of the ONE PART and Vendors of the other respectively (1) dated .................... registered under No.................. dated    ................... registered under No................. with the Sub-Registrar at .................... the Vendors purchased different pieces of land bearing No.......... of ................   in the registration Sub-district of  District..____________........... admeasuring about ............. sq. mts. (hereinafter referred to as the said "Bigger Plot") and the said ____________.. granted and conveyed unto the Vendors the said bigger plot;

AND WHEREAS the layout named as ____________ Complex in respect of the said Bigger Plot and the Building plans for development inter alia of the said Sector ____________ Plot by construction of 1 to ?.. Buildings thereon have been sanctioned by the Collector of ____________ under No  ....................  on the  ....................  ;

AND WHEREAS on account of the internal roads of the said layout the said Bigger Plot has been divided into four sub-divided Plots including a sub- divided Plot known as Sector No. ____________ bearing No............. of ____________........................  and admeasuring about ..............  sq. mts. shown by red boundary on the said plan annexed hereto and hereinafter referred to as the said Sector ____________.. Plot;

AND WHEREAS the full FAR available in respect of the said Sector ?.. Plot has not been utilised by construction of the said ?. buildings and that there is a scope for construction of additional buildings to consume the full FAR in respect of the said Sector ?. plot;

AND WHEREAS the Vendors have engaged the services of M/s. ____________, Architects & Consulting Engineers for preparation of structural designs and drawings of the said buildings and also if necessary for supervising construction thereof;

AND WHEREAS the fees of the said architect and R C C Consultant for sanction of the said building plans and other charges of and incidental thereto so far as the same relate to the said buildings Nos. 1 to 1 0 have been paid off;

 AND WHEREAS the Vendors have engaged the services of M/s. ____________.., Advocates and Solicitors for drafting the agreements for the sale of the flats on ownership basis to be constructed in the said ____________, for formation of the organisation of the Purchasers of such flats, for transfer of title in favour of such organisation and for all other legal work in connection with the development of the said ____________..;

AND WHEREAS by an agreement dated ............... made between the Vendors of the One Part and the Confirming Party of the other part, the Vendors granted rights to the Confirming Party to develop the said Sector ?.. Plot by constructing thereon the building Nos. 1 to ? with a right to grant Sub-development rights in respect of the said ?. buildings in one lot or in different lots as the Confirming Party may desire and for the consideration and upon other terms and conditions therein mentioned;

AND WHEREAS the said agreement dated  ................. is valid and subsisting;

AND WHEREAS the Confirming Party has agreed to grant to the Purchasers and the Purchasers have agreed to acquire from the Confirming Party and the said right to construct ____________.. on the said Sector ____________ Plot on the consideration and upon the terms and conditions hereinafter appearing;

AND WHEREAS at the request of the Purchasers, the Confirming Party has requested the Vendors to enter into direct agreement to grant on behalf of the Confirming Party the right to construct the said building No. ?. in the manner hereinafter appearing.

NOW THIS AGREEMENT WITNESSETH AND IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

(1) In pursuance of the agreement and for consideration hereinafter set out on behalf of the Confirming Party, the Vendors hereby grant and the Purchasers hereby agree to acquire the rights to construct the said building No. 8 (hereinafter referred to as "the said building') on Plot of land situate at............................................ admeasuring about                ................  sq. mtrs. forming part of the land bearing No. .................. and forming part of the said Sector ? Plot contained in the said ____________.. within the limits of ____________...................... more particularly described in the Schedule hereunder written and shown by green colour boundary line on the said plan thereof hereto annexed (hereinafter referred to as the said plot) to be developed at their own costs, expenses, risks and responsibilities and as per the said building plans, a print whereof is hereto annexed.

(2) Subject to the Vendors permission obtained in advance in that behalf, the Purchasers shall be at liberty to make amendments, modifications, alterations and variation to the sanctioned building plans, so far as it relates to the said building without in any manner affecting the construction of the other and rest of the buildings to be constructed on the said bigger Plot as also rest of the buildings in the said ____________.

(3) Subject to the provisions hereof, the Purchasers shall be at liberty to sell in their own name the dwelling units, flats, tenements and other premises that shall be contained in the said building on ownership basis at the rate and an the terms and conditions which the Purchasers may deem fit and proper.

(4) The agreement whereby the Purchasers shall sell the tenements or any other rights or privileges in the said building shall provide that the same are subject to the terms, stipulations and conditions contained in this agreement.

(5) In consideration of the rights hereby granted to the Purchasers, the Purchasers shall pay an amount at the rate of Rs. .............. per sq. ft. of built up area of the tenements to be contained in the said building. The built up area of the tenements of the said building shall include the area of the balconies. The built up area of the flats in the said building as per the said plans comes to                    .............. sq. ft. and the consideration payable hereunder in respect thereof on the said area and at the rate aforesaid come to Rs. ......... The said consideration of Rs. .......... shall be paid by the Purchasers to the Confirming Party in the manner as follows:

(i)         Rs. ...............      On the execution hereof to the Confirming Party (the payment and receipt whereof the Confirming Party do hereby admit and acknowledge)

(ii)        Rs. .............. as part payment on or before the ...........  of ...................

(iii)       Rs. ..............       As further part payment on or before the ............  of   ..........................,2000;

(iv)       Rs. ..............       Being the balance to the Confirming Party on execution of the conveyance or lease as hereafter mentioned in favour of the organisation of the purchasers of the tenements.

(6) The Purchasers shall not be liable for the expenses already incurred by the Vendors for providing infrastructures for the said building. The Vendors shall not be liable to do any further work to complete or provide any further infrastructures for the said building.

(7) The Purchasers, their successors and assigns will have full and free and perpetual right and liberty for themselves, visitors, agents, tenants, servants, workmen and occupiers for the time being of the building or any part thereof and all other person or persons authorised in this behalf to be on the said building from time to time and at all times hereafter at their or his will and pleasure by night and by day and for all lawful purposes to go, return, pass and re-pass either on foot or with animals, wagons, trucks, vehicles of all kinds, automobiles or other carriages laden and/or unladen through and over the said internal roads shown on the said plan by colour burnt sienna as also to use, utilise and get benefit of the common services and amenities such as water pipes, sewers, drainage, electric cables under the said internal road along with the Vendors and the other person or persons entitled to the same.

(8) The Vendors shall keep the said internal roads unbuilt upon and open to sky forever. The Purchasers or the Developers or the Owners for the time being of the other Sectors and Plots forming part of the said bigger plot shall form a common agency. Such common agency shall maintain and repair the said internal road, the sewers, mains, drains, pipes of connection lines whether electric, water, telephone, gas or otherwise for the purpose of discharge or outlet of sewerage, rain water from the said building or for supply of electric energy, power, water, gas or other facilities or amenities to the Purchasers, their successors or any other person entitled to use the said building or any part thereof.

(9) The Purchasers, their successors and assigns shall and will bear and will pay along with the Vendors for the time being of the other buildings forming part of the said bigger plot proportionately i.e. in proportion which the area of the said building bears to the said other buildings on the said bigger plot, as the case may be, the costs, charges and expenses of repair and maintenance of the said internal road shown by colour burnt sienna on the plan hereto annexed as also of water pipes, drains, sewers, street lights to be laid, erected or put up on the said internal roads and all taxes payable to the Municipality, State Government or any other public body or authority for the land utilised for the said internal roads until the same shall if at all be taken over by the local authorities. The Purchasers shall at their own cost always have a right and liberty to lay and connect all along through and underneath the said internal roads shown in colour burnt sienna the sewers, mains, drains, pipes or connections whether electric, water, telephone, gas or otherwise for the purpose and in connection with the discharge and outlet of sewerage, rain water from the said building or for supply of electric energy, -power, water, gas or other facilities for amenities to the Purchasers, their successors and assigns.

          Agreement for Transfer of Development Right (TDR)
 

THIS AGREEMENT made at __________ this ________ day of _________________ in the Christian Year Two Thousand _____ BETWEEN XYZ of ___________, Indian Inhabitant having address at _____________________________________, hereinafter called ?THE TRANSFEROR? (which expression shall unless repugnant to the context or meaning thereof be deemed to include his heirs, executors and administrators) of the One Part; AND M/S. ABC & CO., a registered partnership firm having its office at ____________________ ___________________________________________________________________________________________________, hereinafter called ?THE TRANSFEREES? (which expression shall unless repugnant to the context or meaning thereof mean and include the partners or partner for the time being of the firm, the survivors or survivor of them and the heirs, executors and administrators of the last surviving partner and their his/her assigns) of the Other Part;

WHEREAS:?

(a)  The Transferor was the owner of immoveable properties being lands bearing C.T.S. Nos. ____________ at Village ____________, more particularly described in the FIRST SCHEDULE hereunder written (hereinafter referred to as ?the said Property?).

(b)  Under the Development Plan the said property was reserved for recreation Ground. In view of the provisions of the Development Control Regulations, 1991, the Transferor on surrender of the said property to the Municipal Corporation was entitled to be awarded Transferable Development Rights (TDR) in respect of Floor Space Index (FSI) of the said property for being utilized on other properties in accordance with the provisions of the said Development Control Regulations, 1991.

(c)  The Transferor has handed over possession of the said property to the Municipal Corporation of Greater Mumbai and the said Municipal Corporation has issued Development Rights Certificate No. ____________ dated __________ favoring the Transferor to the extent of _______ sq.mts. i.e. __________sq.ft. The true copy of the said Development Rights Certificate in favor of the Transferor is hereto annexed and marked Annexure ?A?.

(d)  The Transferor has agreed to transfer the benefit of utilization of TDR of the FSI to the extent of ______ sq.mts. i.e. ______ sq.ft. out of the total FSI available to the Transferor under the aforesaid Development Rights Certificate to the Transferees on the terms and conditions appearing hereinafter.

(e)  The parties hereto are desirous of recording the said terms and conditions agreed upon between them.

NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY MUTUALLY AGREED BY AND BETWEEN THE PARTIES HERETO as follows:?

1.   The Transferor hereby declares that he is fully entitled to the Development Rights Certificate No. ___________ dated _________ to the extent of _______ sq.mts. issued in his favor by the Municipal Corporation of Greater Mumbai, as per the provisions of the Development Control Regulations 1991 and which is more particularly described in the Second Schedule

Transfer of a Flat by the Vendor to a Third Party on Ownership Basis Subject to the rights of an Existing Tenant

DEED OF TRANSFER

THIS DEED OF TRANSFER made at ________ this ________ day of __________ in the Christian Year, Two Thousand _____ BETWEEN ABC of __________, Indian Inhabitant, having address at___________________________ , hereinafter called ?THE VENDOR? (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors and administrators) of the ONE PART; AND XYZ of ________, Indian Inhabitant, having address at ________________________________ ____________, hereinafter called ?THE PURCHASER? (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors, administrators and assigns) of the OTHER PART;

WHEREAS:?

(a) The Vendor is the absolute owner of a plot of land situate at _________________________________ together with the building standing thereon known as ?_____________? and more particularly described in the First Schedule hereunder written and hereafter referred to as ?the said larger property?.

(b) The said building ?______________? is consisting of Ground plus _____ upper floors which is fully occupied by various tenants/occupants. The said building is constructed prior to
the year _______.

(c) The Flat No.________ (admeasuring 600 sq. ft of carpet area) on the second floor of the said building ?______________? is occupied by one PQR as the tenant of the Vendor for last several years yielding monthly rent of Rs. _____/-. The said tenancy is valid and subsisting. The plan of the said Flat No.________ on the Second Floor of the said building ?_____________? is annexed hereto and is hereinafter referred to as ?the said flat?. The said flat is more particularly described in the Second Schedule hereunder written.

(d) The Vendor has agreed to sell, convey and transfer to the Purchaser and the Purchaser has agreed to purchase and acquire the said flat from the Vendor at or for the total lumpsum price of Rs._______/- (Rupees ______________________ only), free from any encumbrances and reasonable doubts whatsoever, subject, however, to the tenancy, possession and other rights of the said Tenant as aforesaid and on the other terms and conditions recorded herein.

NOW THIS INDENTURE WITNESSETH that in pursuance of the aforesaid agreement and in consideration of the sum of Rs__________/- (Rupees _________________________ only) paid by the Purchaser to the Vendor on or before execution of these presents being the full consideration money agreed to be paid as aforesaid (the receipt whereof the Vendor doth hereby admit and acknowledge and of and from the same and every part thereof doth for ever acquit release and discharge the purchaser) HE the Vendor doth hereby grant, sell, conveys, transfers and assures unto the Purchaser free from all encumbrances and reasonable doubts the said flat more particularly described in the Second Schedule hereunder written subject to the tenancy, rights and occupation of the said Tenant AND ALL THE ESTATE right, title, interest, claim and demand whatsoever at law and in equity of the Vendor in to out of or upon the said flat or any part thereof TO HAVE AND TO HOLD all and singular the said flat hereby granted conveyed, sold transferred and assured or intended or expressed so to be with their and every of their rights members and appurtenances UNTO AND TO THE USE and benefit of the Purchaser, his heirs, executors, administrators and Assigns for ever SUBJECT TO the payment of his proportionate share of future rates, assessments taxes and dues now chargeable upon the same or hereafter to become payable to the Government or to the Mumbai Municipal Corporation or any other public body or local authority in respect thereof AND the Vendor Doth hereby for himself and his heirs, executors and administrators covenant with the Purchaser THAT notwithstanding any act, deed, matter or thing whatsoever by the Vendor or any person or persons lawfully or equitably claiming by from through under or in trust for him made done committed omitted or knowingly or willingly suffered to the contrary HE the Vendor now has in himself good right full power and absolute authority to grant convey transfer and assure the said flat hereby granted conveyed transferred and assured or intended so to be unto and to the use of the purchaser in manner aforesaid AND THAT it shall be lawful for the Purchaser from time to time and at all times hereafter peaceably and quietly to hold enter upon occupy possess and enjoy the said premises (subject to the rights of the said tenant as aforesaid) with their appurtenances and receive the rents issues and profit thereof and of every part thereof to and for his own use and benefit without any suit or lawful eviction, interruption, claim and demand whatsoever from or by the Vendor or his heirs, executors and administrators or any of them from or by any person lawfully or equitably claiming or to claim by from under or in trust for him AND THAT free and clear and freely and clearly and absolutely acquitted exonerated released and for ever discharged or otherwise by the Vendor well and sufficiently saved defended kept harmless and indemnified of from and against all former and other estates title charges and encumbrances whatsoever either made executed occasioned or suffered by the Vendor or by any other person or persons lawfully or equitably claiming or to claim by from or in trust for them AND FURTHER that he the Vendor and all persons having or lawfully or equitably claiming any estate, right, title or interest at law or in equity in the said flat hereby granted conveyed transferred and assured or any part thereof by from under or in trust for him the Vendor or his heirs or any of them shall and will from time to time and at all times hereafter at the request and cost of the Purchaser do and execute or cause to be done and executed all such further and other lawful and reasonable acts, deeds, matters and things conveyances and assurances in law whatsoever for the better further and more perfectly and absolutely granting unto and to the use of the purchaser in manner aforesaid as shall or may be reasonably required by the Purchaser his heirs, executors, administrators and for assuring the said premises and every part thereof hereby granted conveyed transferred and assured unto and to the use of the purchaser in manner aforesaid.