COLLABORATION AGREEMENT

This Collaboration Agreement is made and executed at New Delhi on this

______________________ by _____________________________________________
________________________________________________________________________
_ hereinafter called the frst party"(which expression shall unless repugnant
to law or expressly excluded by the context be deemed to mean and include
the said FIRST PARTY his/her/their heirs, successors, legal representatives,
assignees, administrators, nominees, executors, survivors etc.) of the one part
IN FAVOUR OF
________________________________________________________________________
___________________________________________" (which expression shall
unless repugnant to law or expressly excluded by the context be deemed to
mean and include the said SECOND PARTY, his/her/their heirs, successors,
legal representatives, administrators, assignees, nominees, executors,
survivors etc.) of the other part.
Whereas the frst party is/are the right full/absolute owner and in possession
of _____________________________________________________________________
______________________________________________________, hereinafter called
the said property.
And whereas after acquiring the said property the builder want to construct a
residential building on the said property with his own funds and resources
(the said property hereinafter collectively referred as THE SAID
PROPERTY) which expression shall include all improvements, additions and
alteration subsequently made therein on thereto.
And Whereas the owner has represented & held out that the owner of the
said property which is self acquired property of the owner and the owner has
full rights, absolute authority to sell, collaborate, dispose of and transfer the
same in whole or in parts and none else except the owner has any right, title
or interest in the said property.
And whereas the owner is destroy of getting the said property development
constructed and due to fnancial constraints and lack of experience in
construction have therefore, approached the builder to develop the said
property for and on behalf of the owner at builders cost.
Contd.P/3-
-3-
And whereas the builder is engaged in the business of promotion,
development and construction of real estate and are well established in the
business.
And whereas the owner has represented that the said property is free from
all sorts of encumbrances and except the owner, no other person has rights,
title or interest in the said property in any manner whatsoever and the owner
has full power and authority to sell and transfer the said property and to
enter into this agreement. That if there is any kind of problem in the above
said property then the frst party is fully liable to pay the damages.
That the owner hereby further assures, represents and convents with the
builder as follows:
1.That the said property is free from all kind of encumbrances such as prior
sale, gift, mortgage, disputes, litigation, acquisition, requisition,
attachments in the decree of any court, lien court injection, notices,
claims, demands, will, Trust, Exchange, lease Loan, Surety, Security, Stay
order, prior Agreement to Sell etc. That if there in any problem raised by
the family members of the frst party or the neighbors so the frst party is
responsible for that.
2. That there is no order or attachments by the Income Tax Authorities or
any other authorities under law for the time being in force or by any other
authority not any notice of acquisition or requisition has been received in
respect of the said property.
3.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.
4.That the said property is not subject matter of any HUF and that any
minor owns no part of the said property.
5.That there is no reservation the said property and the property falls
within the residential zone and there are no impediments in caring out
construction thereon.
Contd.P/4-
-4-
That in case any of the representation/assurances made by the owner is found
to be untrue and/or if the whole or any portion of the said builders 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 owner will be liable and responsible to make good the loss
sufered by the Builder and shall keep the Builder saved harmless and
indemnifed against all such cost, damages, losses, sufered by the builder,
from his portion both moveable and immoveable.
And Whereas the owner and the builder have agreed to develop, construct
and build the fresh building on the said property, hence this agreement has
been mutually entered and executed between the owner and the builder, on
the terms and conditions, appearing hereinafter.
NOW THIS COLLABORATION AGREEMENT WITNESSTH AS UNDER:
That the Subjected matter of this Collaboration of this Agreement between
the parties is existing _______________________________________________
____________________________________________________________________
That the builder shall demolish the existing structure on the said property
and develop, construct and/or build a building consisting of Ground Floor,
First Floor, Second Floor and Third Floor, each foor consisting one Flat and
each fat consisting of ___ Bedrooms, drawing/dining, ___ toilet cum
bathroom and kitchen , each fat area measuring ____ sq. yards,
That the builder shall develop, construct and complete the building at its own
cost and expenses, completion of the said building on the said property at
builders Cost.
The owner has authorized the nominee of the builder along with General
Power of Attorney, to apply for necessary sanction and permission, approvals
to the authority concerned and shall also pursue and co-operate with the
Builder in obtaining such or all other permission, approval as may be
necessary or required for ensuring the due execution of the proposed work of
development and construction of the proposed work of development and
construction of the proposed building.
Contd.P/5-
-5-
That the owner in accordance with the terms and conditions, herein recorded
have place at the said property and from the Vacant physical possession of
the said property shall irrevocably, vest the builder, with all the power and
authorities of the owner as may be considered necessary by the builder for
obtaining the requisite permission for demolition/re-construction of the
proposed building and for sale of the builder share along with indivisible and
impartiable ownership rights, in the said property bearing No. ______,
measuring ___ Sq. Yards, situated at __________________________, New Delhi.
That the owner and the builder shall have proportionate rights in all common
entrances passage, staircase, and all other common facilities and amenities
provide in the proposed building.
That the builder shall engage and employ an architect or architect of repute
at its own costs, expenses and responsibilities for preparation construction
and completing the said building on the said property.
That the entire amount required for carrying out construction, development
completion of the said property including charges and fees of architect for
preparation of the drawing and all the other statutorily and other fees and/or
demands shall be wholly to be account of builder.
That as mentioned hereinabove the building consisting of
_____________________________________ Floor each foor consisting one fat
and each fat consigning of ____ bedroom, drawing/dining, ___ toilet-cum-
bathroom & kitchen each fat area measuring ____ Sq. yards, the portion
falling to the share of the parties in newly constructed building shall be as
under:
Contd.P/6-
-6-
OWNERS LOCATION/FIRST PARTY
1.Entire ___________________________________________________________
_____________________________________________________________________
along with indivisible and impartiable ownership rights, in the said
property
BUILDERS LOCATION/SECOND PARTY
2.Entire ______________________________________________________________
____________________________________________________________ along
with indivisible and impartiable ownership rights, in the said property
And it is agreed that in addition to the foors location as specifed above the
second party/developer shall pay a sum of RS. ____________________ as
proportionate cost of land for his share to the frst party/owner and also for
equalizing his share in the location of the foors in the said property of the
foors in the said property.
____________________________________________________________________
____________________________________________________________________
And the frst party/owner hereby acknowledges the receipt of the above said
amount through separate legal receipt. Simultaneously on receipt of the said
amount the frst party/owner have handed over the vacant physical
possession of the above said property to the Second Party/Developer on spot.
The owner shall keep the said property free from all such encumbrances till
the duration and complete implementation of this agreement and there after
in all respects and do hereby keep the builder or its nominee/nominees
indemnifed on all such accounts.
That the second party shall pay the rent to the frst party till completion of
the building
Contd.P/7-
-7-
That the House tax, property tax, water and electricity charges and other
outgoing levies, taxes, charges in respect of the above said property till date of
execution of this Collaboration Agreement shall be paid and borne by the
owner and thereafter the same shall be paid by the builder and the owner in
respect of their respective allocations. However, the water and electricity
charges during the construction period shall be paid and borne by the builder.
The builder and the owner shall be entitled to sell, transfer, convey and
assign his/her/their respective portion to any prospective buyer and to receive
the sale proceeds in respect thereof in their respective names, during or after
completion of the construction, without any objection of hindrance by the
other. Further, the builder and the owner shall be fully entitled to enter into
any agreement for the sale/booking of their respective allocation in the newly
constructed building and shall be entitled to accept cash/Cheque in their
respective names. Further, the owner hereby agree to confrm, execute or
enter into agreement if required by builder, between the owner, builder and
the prospective purchaser of portion(s) falling to the share of the builder.
The owner shall on or before the completion of the building execute or join in
execution of all documents necessary for giving the fat(s) portion buyers of
Builders portion legal title to their respective fats/portions including their
undivided share in the land underneath, without asking for any further
payment.
This Agreement shall neither be deemed to constitute a partnership between
the parties hereto not be deemed to constitute any one as the agent of the
other.
That the owner shall not interfere with or obstruct in any manner with
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.
That in case in any accident or claim for anyone including neighbor, 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 nominee/s agents to attend the
court/concerned authority on owners behalf and all the expenses in this
behalf shall be borne by the Builder.
Contd.P/8-
-8-
If there is any claims, demand, tax liability or any other court order what so
ever against the owner then it is a conditions of this agreement that the work
development and/or completion of the said building and or other matter
incidental of this agreements hall not at any time during or after the
completion be stopped prevented, obstructed, or delayed in any manner
whatsoever.
That the proportionate common maintenance charges and all taxes relating
to their respective portion will be paid by all the occupants/owner of the said
building in proportion of the area occupied by them.
That the owner/occupant of the said builder shall have, as a matter of rights,
rights to use all common entrances, staircase and other common facilities as
are available in the said building.
That the builder undertake to complete the proposed building with in a
period of ___ months from the date of sanction plan from authorities
concerned or from the date of demolition of the property and possession from
the owner to the builder, which ever is later, subject to FORCE MAJEURE,
and further if deadly is occasioned for any reason of any act or legislation
restriction, prohibition or restrained imposed by any statutory body and
Government Authority, no liability shall attach to the builder.
That the builder shall have full right to nominate and/of assign this
Agreement either in whole or in parts in favour of any person or persons, be it
a frm, body corporate or association of person and the owner of his
subsequent transferee(s) assigns(s) etc. shall have no objection to it. Further
the builder shall be fully entitled and empowered to demolish and reconstruct
the building either itself personally or get the work done through any
contractor, other builder and developer etc. on collaboration basis or
otherwise as the builder may deem ft and proper and the builder shall also
be entitled to enter into any construction agreement, collaboration
agreement, property development agreement or any other agreement with
the builder may deem ft and proper.
That all the expenses for the execution of General power of attorney/Sale
Deed/Conveyance Deed of the Builders Portion including the right in the land
such as stamp duty, registration charges etc. shall be borne by the builder or
is nominees.
Contd.P/9-
-9-
That all relevant documents in photocopies in respect of the said property
have been handed over by the owner to the builder.
That the second party/builder shall handover the First Party portion only
when the frst party sign all relevant documents such as GPA(s), SPA(s)
Agreement to Sell, Afdavit(s), Indemnity Bond(s) Will, Receipt, Possession
Letter, Sale Deed etc. in respect of the builder portion of the above said
property, in the ofce of the Concerned Sub-Registrar, New Delhi, in favour of
Second Party/Builder or his/her/their nominee.
That this transaction has taken place at New Delhi and as such Delhi Courts
shall have exclusive jurisdiction to entertain any dispute arising out or in any
way touching or concerning this Deed.
IN WITNESSES WHEREOF the parties to this deed of Collaboration have
signed at New Delhi, on the day month and year frst mentioned above, in the
presence of the following witnesses:
Witnesses:
1. First Party
2. Second Party.
R E C E I P T
I/WE, ________________________________________________________________
______________ RECEIVED with thanks a sum of RS.
______________________ _____________________Only), FROM
_____________________________________
______________________________________________________ Against
Collaboration of Property No.
_______________________________________________ , as Collaboration money
all its rights of the land under the said property, as per Collaboration
agreement executed on ____________, as under:-
Hence this Receipt is made at Delhi, on _______________, in the presence of
the following witness.
Witnesses:-
1.
E X E C U T A N T
2.