r:i1i. ,ii:r ',ii 'r: il :'ti, :+i' r . /''i ... .,i. {EI-TTE-E$NFI -lQl\l!\- .': o t ficial2 Nahe & SignaEure :i. t - .r.." for cust@erloftic - PleaBe w!j.t.e below this line i ti;' 6,^r:S .i',:': iv t;') Zone No. I l.l3 Rs. 37,58,000/- r Govt. Valuation Stamp Rs. 1 ,87 ,9001 - \/- Reg. Fees Rs. 30000i. - DEYELOPMENTAGREEMENT This Development Agreement ismade and executed atNashik on this 19th day ofNovember 2014. '-t$ iO Krner'rsH Vrrrs,rmx.u PerrI, Age - 46 , Occ- Business R/o Flat No. 7, Shivnetra AparEnent, Mahalaxmi Nagar, Hirau,adi Road Panchvati, Nashik Pan No. ANSPP 6454 C Hereinaffer referred to as the ,,Developer" (which expression shall unless be repugnant to the context or meaning thereof be deemed to include his heirs, executors, administrators, assigns etc) of the FIRST PART. AND I) MR PRADEEPATMARAM NARANG Age - 42, Occupation - Service Pan No. AAWPN 7069 G R/o 203, Godavari Aparfinent, Firozshah Mehta Road, Santacruz (E) Mumbai 400054. 2) MRS. BINITA KUNAL SHAII Age 45, Occupation - Service Pan No. AXSPS 1043 G RYo l0l, Sushant, l0 th Road, Khar ( West), Mumbai 400052. Hereinafter referred to as the ,plot Owners, (which expression shall unless be repugnant to the context or meaning thereof be deemed to include their heirs, execulors, administrators, assigns etc) of the SECOIYD PART. ffi-1,", tlrN //€A r?\ rl.i ,,€ 'Jl r "4il i v), \/r'.,, l, t'r'Y property consisting ofpiece of land bearing S.No. 248 / I to6/5 +6,PlotNo.5 admeasuring 179.t5 Sq. Mtrs. situakd at Deloali Tal & Dist Nashik which is ownedby Owner No.l and S.No.248l1to6/ 5 + 6, Plot No. 6 admeasuring. area 179.85 Sq. MtIs. situated at Deloali Tal & Dist Nashik which is owned by Owner No.2 herein with referred to as Said Plots. The plot owners had purchased the said Plots ftom Shree Buildcon & Associates though Parhers Mr. Bajirao Keshavrao Sury4wanshi and ottrers on 16.6.2012 by way ofsale deed which v"as registered at Sr. No. 522312012 afi 522412012 in the oIlice ofSub RegistrarNashik. Hence the name ofthe plot ownels was mutated on 7/12 extract as per M.E. No. 27004 artd 2'1005 respectively. AND WHEREAS the said plots were converted into N.A. as per order of Collector Nashik vide order No Mah/ Kaksha 314 I N.A./2531 20ll dated. 29.12.2011. The tayout Plan was sanctioned by the Nashik Municipal Corporation vide lefter No. P-317548/ 12 dtd.9.3.2012. AND WHEREAS the Plot Owners have decided to develop the said plots. The developer is in the business of construction and has got knowledge about the same he approached the plot ormers through mediators and after negotiations the terms and conditions ofdevelopment were decided between them . Hence this Development Agreement is made and executed betwe€n them as per the terms and conditions agreed. NOW THER.EFORE THIS DEVELOPMENT AGREEMENT WITNESSTH AS HEREIN. l) The Plot Ownen hereby grant to the Developer who hereby accepts ftom tle plot o*'ne$ the right to develoP the said plots sihrated al Deolali Tal & Dist. Nashik under the limits of Nashik Municipal Coryoration which is described in the schedule herein under written in the manner hereinafter appearing and upon the terms and conditions and stiPulations herein contained. The Plot O\tr'ners hereby grant the possession ofthe said plots to the Devetoper on license basis so as to construct a multistoried building on the said plots. 2) As agreed b€tween the Plot Opners and the Developer the Developer has agreed to give the constructed flats in the multistoried building constructed by the Developer on the said plots as mentioned below to the Plot Olvners as the compensation for the said plots . tr/r"Y ,' -:'l(,r\ !:,/ . . :, ,2 \'i \.F' 4..r . -:'-i' i {{ :':. lio ,.,' l| -,_.... I ' ., :j,/r* - cca? _""t) :' a' \u2.1'' " ',/:,:l \ , .. E\q) OwnersName Flat No Area Floor Sq.Mtr. l)Mr. Pradeep Atmaram Narang 7 77.00 Second 9 '7',7.00 Second 2) Mrs. Binita Kunal Shah 4 '17.00 Third 6 77.00 Third Total 308.00 The stamp duty , registration fees , t)?ing, xerox , advocate fees and other charges ofsaid flat property will bepaid by the plot Owners at their own cost. The built up area ofsaid flat property is calculated by adding 35 %o to the carpet area ofthe flats. 3) The Plot Ou.ners will also be allotted lsti[ parking with each flat as shown in the plan attached. 4) And in the above consideration of the obligations undertaken by the Developer with regard to the development of the said plots the Developer in tum will have the right to develop and construct on the said plots a multistori€d apartment building and sell such constructed developed flats to any prospective buyers at his chosen time and price except the share of the Plot Owners i.e. the above four flats. 5) That Plot Owners do hereby grant excessive license and permission and authority to the Developer to plan, amalgarnate the plots, construct , erect , built and complete on the said plots a multistoried building in accordance with the building permission granted by Nashik Municipal Corporation within a period of 24 months from the date of receiving the sanctioned building plan / sanction letter from the sanctioning authority. If any natural calamity, act of God or war arises then the said limit will be extended which will be mutuallv decided by The Plot Owners and the Developer. 6) The Plot OwneIs shall simultaneously with this present execute an irrevocable General Power ofAttomey in favour ofthe Developer for the constsuction of the multistoried building on the said plots and for f.-:''$ :ll ,i{ $i \ lrl ;,1 cc?9/ror') w; ts\: /":) Qrn*-# " :i the Developer's allocated portion offlas inthe said proposed multistoried building and for any other ancillary acts. Not withstanding grant of the aforesaid General Power ofAttomey the Ptot Owners hereby undertake that they witl execute as and when necessary, all papers, documenis, plans etc for the purpose of development of the multistoried building . 7) The Plot Owners also undenake that in case any discrepancy arises in future as to the marketable title ofsaid ptots and,/u itis found that the land is not free ftom all encumbrances , in event thereoq the plot Owners shall be bound toretum entire sums invested by Developer i.e searching of title deeds, payrnent of stamp duty ifany within 6 months. 8) The Plot Owners hereby agree not to act ortocause any interference or hindrance in the comtsuction ofthe said building at the said plots by the Developer as per terms and conditions of this agreement, 9) The Plot Owners agree with the Developer not to do any act or thing whereby the Developer may be prevented from selling, assigning and./or disposing ofany ofthe Developers allocated portion in the buildingtobe constructed by the Developers. 10) The Plot Owners hereby undertake to register and execute the Agreement of sale,/ MOU /Deedof Conveyance ora Deedof Transfer or any document ofany other nature in respect of any part ofpodion ofthe Developer's Allocations in favour of its nominees/ transfereey assigns as and when called by the Developer to do so . ll) All the costs towards regularizing title, pa)rnent oftaxdues, other preparatory work etc prior to obtaining sanction plaa shalt be incurred by the Developer by and on behalfof the Plot Owners. Such cost incured by the Developer shall be recoverable from the Plot owne$ . 12) Developer at its own cost have taken steps or shall take steps, a) For obtaining clearances and N.O.C. from the statutory and municipal authorities. b) To devise a scheme of amalgamation of the said plots for its best residential utilization (if required ) and compliance ofall the statutory procedural laws for giving effect to the same. c) To prepare plans for construction ofthe new building or buildings on the said plots according to the building rules of the Nashik Municipal Corporation and to get the said plans approved and thereafter construct new building or buildings in accordance with the sanctioned plan. ffi;rf-\ 1t;:,; iq{lQ/tewl d) To submit and resubmit alt turther ptan (s) with modification and./ or file applications and other documents or papers and to do all fi[ther acts deeds mstters and things as may be requhed by the Devetoper to obtain permission in respect of the construction ofbuilding, clearance of building plans or otherwise relevant forthe pu4rose from the appropriate government departrnent and /or authorities concemed. e) To do atl such other acts, deeds and things as may be necessary for construction of the said buitding and for such purpose to appoint necessary Architects and professionals. f) To make his best efforts to commence and complete construction of the building on the said ptot within a period of24 months from the date of obtaining sanction building plan from NMC unless prevented by reason beyond is control including force majeure , nahrral calamities, act ofGod etc. g) To appoint contracto$/ sub contractors for the construction ofthe building. 13) The Developer has drawn the building plans which include four floors The building plan has been seen and agreed to by rhe plot Owners. A copy of the tertative plan is enclosed with this agreement subject to the approval by the authorities. 14) The Plot Owners hereby agree and admit that they shall not demand any consideration other than the consideration mentioned in sub clause 2 under the terms and conditions and they wi[ have no right or ownership over the constructed premises plot area and sale proceeds received and gained by the Developer as a result of this Development Agreement. It is the right ofthe Devcloper to name the said building. 15) The Developer sha.lt apply for and obtain sanctioned buikling plan from Nashik Municipal Corporation at his own cost and consequences and shall appoint architects, engineers, supervisor, contractor, labor etc for the conduct of actual construction work and shall pay all charges to them as are applicable. 16) The Developer shall develop the property as per the sanctioned buildingplan a.nd shall execute thework as per therules and regulations in force and shall not make any evasion of the rules and regulatioDs. For such act the Developer shall alone responsible. The Developer shall bear and incur the expenses ofthe construction / development work such as cost of cement, sand, bricks, steel. labour etc. o _.ffi1*$\ 6rFiLt BT ----- shall apply for and receive the comPletion certificate froFthe sat authority at his own cost and consequences The Plot "tioning to establish or register an Owners have no objection to DeveloPer apartment association ofthe members provided that the cost and expenses for such registration shalt be bome by the Developer . 18) The Plot Owners hereby admit and assure that the said property to be developed is clear, marketable and legal title and free from all encumbrances, attaclments, lien, lease , agreement, court Proceeding etc and in case ifthere is any default in the said property then the plot owner shatl clear it at the own cost before the corEnenc€ment ofthe actual construction of work. That the said plot is ftee from acquisition and / or requisition in any natue whatsoever . The said plots are not affected by any Road alignment and not affected by provision of ULC Act 1976 or any other statute and there is no legal bar for development and construction of a new muttistoried building on the said Plot proPerty. That Plot Owners have not enterEd into any agreement with any other developer or promoter or have created any charge in rcspect ofsaid Plols That there has been no notice of attachment, requisition, acquisition received from any competent authority in resPect of the said plots. 19) The Plot Owners hereby assure that the construction work shall notbe obstructed or disturbed by any act oftheir relatives or any other third person and for such obstruction any time lag or exc.ess time is required then it shall remain responsibility of the plot owner for such extension of further time. 20) The Plot Owner shall give a power of attomey in favour of the Builder/ Developer for carrying out the development activity and this Power ofAttomey shall be treated as a part and parcel ofthis Development agreement. 2l) The Developer shall have every right to fix the selling price and setect the prospective customers for his part ofthe construction and the Plot Owners shall in no way raise any objection for the same The Developer shall enter in to an agreement ofsale, sale deed, transfer deed etc in respect ofthe flat conslructed in favour ofproposed flat purchasers and shall atso execute the said documents in respect of constructed flats in favour of proposed purchasen and shall also execute the said documents in respect of comtsucted flats, parking areas etc in favour of the purchasers and register the same before the Sub Registrar Nashik and receive the consideration for the same. :'/ i1r-,S(C6a@rrt8) r\. t\(/(,\--- .:,1) .,j"./, ,i -\-_.7_ \v{r '{ttq@i t* --1 r v,,/' -,/ -The Plol Owners hereby gant the Developer the permission to -make arangement for a godown or warehouse on the said property to store the building material at his own cost during the course of development. 23) The Plot Owners hereby grant to the Developer permission to employ awatchman or a security guard onthesaid plot at his own cost and consequences and the o*ners shall not have any objection for such watchman / security guard residing on the said property during the course of the development. 24) The Plot Owners hereby grants to the Developer the permission to apply for and obtain electric connection, water connection, drainage corurectivity etc at his own cost dudng the course of development. Such facilities may be used by the Developer for the development ofthe said plots. 25) The Plot owner hereby grant to the Developer the permission to apply forand obtain TDR atthe costof the Developer and consequences during the course of development. Such mR may be rsed by the Developer for the development of the said plots. 26) The Plot owner hereby grant the Developer the permission to carry out all such actions which may not be specifically mentioned above but are required to carry out development / construction onthe saidplots. Itwill include making apptications toor appearing before any goverffnent or other authorities , initiating defending and appearing in any tegal proceeding which may arise for the development ofthe said ptots. 27) The Plot Ownen hereby declare and assur€ that the said plots are rot subject to acquisition or requisition from any Govt, Semi Go1t. or local authority and no such notice has been received by the Plot Owners till today . 28) The prospective purchasers ofthe constructed flats from the share of the Dcveloper may raise loans ftom any hnanciat institutior/ baoks for the purpose of purchase of the constructed flats and for the same the Developer is at a liberty to execute a mongage deed in favour of the said financial intuition / bank. Said loan will be repaid by the purchasers only and the Plot O*.ners have no objection for Developer executing mortgage deeds in favour of the bank / financial institution in respect ofthe flats being purchased./ sold. 29) All expenses for this Development Ageement and GpA such as starnp duty, registration fees etc. shall be bome and paid by the Developcr ,,4 ',r, ttc? 30) The Developer shall be responsible for all the legal, technical and safety compliance of the project. However the Developer shalt not be responsible for any changes made to the constructed flats after occupation certificate has been received. 3l) The Developer shall install and erect in the said residential buitding at his ox.n cost and expenses all sanitary and plumbing installations, water storage tank, overhead reservoir, electrification and other facilities as are required to be provided in the multi storied building having self contained aparunent/ flats and constructed for sale offlats. The Developer may also arrange permanent electric meter for each flat from MSEDCL at the cost ofthe respective purchasers ofthe flats construct€d. However the Plot Owners shall arrange to bring their oun electric meter. 32) The photo copies of original documents in respect of the said plots shall be kept with Developer who shall hold such documens during the subsistence ofthis agreement and the Plot Owners shall be entitled to allow inspection ofthe original docrnnents to customeB of the Developer and / or may allow them to take extracts ofthe title deeds and produce the same of true copies thereof when documents are needed by the Developer for legal revenue or other such causes. 33) The Plot Owners have handed over the original documents in respect ofthe said property i.e. sale deed,'7112 exEact,layoul plans etc. to the Developer. 34) The time period of development of said property will be 24 months ftom the date of sanction of the building plan by the Nashik Municipal Corporation. If the said constuction is not completed within 24 months then the Developer shall pay Rs. 25000/ Rs. Twenty Five Thousand only per month to each plot owner as a flrne for the period ofthe delay. 35) The Developer shall execute the agreement of sale, sale deed of apartment, transfer deed in favour ofthe prospective purchasers offlats. To purchase stamp for said documents . To present the said agreement of sale, sale deed of apartment , tarsfer deed before the Sub- RegisEar for registrdtion, to appear before them and thereby to admit the documents and ofexecution thereof by lodging the said documents before them on our behalf, and to do and perform all other acts, deeds, maners and things in relation thereto as may be found necessary and convenient for giving fully effects to the authority. To complete the registration Proc€due (7-" 9/;' i'"a'l* ',! :I r-l ,) .- ',- c(@.8 Fl ,ilt dr ',F ,F ,' ]\ . .2,\ 'a) /.:-' ,3 ) L:2"*a- I f".t.- --.'5:',/l AcL To get and execute Correction dced in respect d property if necessary which we have signed. To purchase the stamp for the said deed . To do all necessary things which are necessary for the registration of the said documents in respect of Developer,s share . 36) In case of any dispute arising out ofany matter relating to subject matter of this agreement €xcept criminal matter , it shall be resolved by referring the dispute to the sole arbitrator appointed by both the parties and decision given by such arbitrator will be binding upon both the parties. 37) Allthe cost of development including cost and expenses ofthe said document required to be executed shall be bome by the Developer. The original Development Agteement and General power of Attomey retain with the Dweloper and Xerox copy will be given to the plot owners. 3 8) The court ofNashik alone shall have thejurisdiction to entertain and try all actions suits and proceeding arising out ofthis agreement. SCHEDULE A All that piece and parcel ofthe plot bearing S.No. 24t / I to 6 /5 + 6 out of which Plot No. 5 adm. area 179.85 Sq.mtrs. and S.No.248 / I lo 6 /5 + 6 out ofwhich Ptot No. 6 adm. area 179.85 Sq.mtrs. Asst. p.s. ll3. 30 paise situated at Deloali Tal & Dist Nashik within the limits of Nashik Municipal Corporation and within the limits of Sub Registration office Nashik . The said plot are bounded as follows. Plot No.5 Plot No. 6 East:- Plot No. 06 Plot No. 07 West:. Plot No. 04 Plot No. 05 Southi S.No.248 Hissa No.7 S.No.248 Hissa No.? North :- 9 Mtr. Colony Road 9 Mtr. Colony Road SCHEDULE B Earthquake Resistant RCC frame structure Intemal POP wall finishes ,i,\ tl, ''.o\ \6 i.! ?\:i. /.?, / q>'ifr{ with battery backuP All floors ofthe room shall finished with Vitrified tiles2x2 2 fts heights in kitchen counter and cooking counter comPlete with black granite Loft shall be provided over kitchen and bathroom only Main door ftame in malaysian teak wood and other doors in RCC frame . Windows - Powder coated Aluminum channel frame with gtass panel with grill covered Paint i Extemal walls in cementpaint and intemal watls in distemper painL, * Lintel level tiles in toilets and in kitchen * Granite kitchen ottas + Concealed plumbing with standard mark httings and saniury we:rs * Acrylic based paint for exterior and oil bond distemper for inner surface * Both side laminated flush doors with standard fittings * Concealed Electical htting with ISI mark * Lift of a reputed make along with the banery back up isto be provided in the said building. In witness whereofthe parties hereto have set and subscribed their respective hands and seal on this DeveloPment Agreement' Nashik Signed Sealed and delivered bY within named Developer _-, @,t".lS)' Mr. Kiranbhai Vrtthalbhai Patel ,r-,r, 112Qi-jst) Signed Sealed and delivered by within named plot owners l) Mr. Pradeep Atmaram Narang LI 2) Mrs. Binita Kunal Shah T Io the presence ofwitness J.\\ l) ..t.'t . \ \ ,-,, '*DU--r7""+- iF -"t'// C -srnra...,^ -t j -; SSIK-5 * arrd {ar 5rd (3{fu6h qft}s cr6) t uERrf q+{ cE{fd rtuk sor +.dr (dqn 6wl q qftr&d 8ci) e{rc, irul rrlBlF4q I t, t *ft u l =. EilIFG , Errfl .'-ffiH6 gTA liqilt 3 iorl 3ie \ rir .-'2tLl.t-4 F. 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