The Property Collaboration Agreement is a crucial document in Indian real estate development, used when property owners wish to partner with developers to enhance the value of their property through development. This agreement type is particularly relevant in scenarios where the landowner contributes the property while the developer brings expertise and resources for development. The document addresses key aspects required under Indian law, including title verification, development rights, profit sharing, statutory compliances, and project execution parameters. It's essential for protecting both parties' interests and ensuring clear documentation of responsibilities and benefits, while complying with various Indian regulations including RERA (Real Estate Regulation and Development Act), local development authorities' requirements, and state-specific real estate laws.
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Key Requirements PROMPT example:
Property Collaboration Agreement
"I need a Property Collaboration Agreement for a joint development project in Mumbai where my company will contribute a 5-acre land parcel and the developer will construct a mixed-use complex, with a 60-40 revenue sharing arrangement in the landowner's favor."
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1. Parties: Details of the property owner(s) and developer(s) entering into the agreement
2. Background: Context of the collaboration and brief description of the property and proposed development
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including title details and encumbrances
5. Scope of Collaboration: Detailed outline of the development project and collaboration structure
6. Rights and Obligations: Specific responsibilities and rights of each party
7. Financial Terms: Revenue sharing arrangement, cost allocation, and payment terms
8. Project Timeline: Development milestones, completion dates, and delivery schedule
9. Statutory Compliance: Responsibilities for obtaining permits, approvals, and maintaining compliance
10. Representations and Warranties: Standard and specific warranties by both parties
11. Term and Termination: Duration of agreement and grounds for termination
12. Dispute Reֱ: Process for resolving disputes including arbitration provisions
13. Force Majeure: Provisions for unforeseen circumstances affecting project execution
14. Notices: Communication protocols and contact details
15. Governing Law: Applicable law and jurisdiction
1. Bank Guarantee: Required when performance security is needed from the developer
2. Power of Attorney: Included when developer needs specific powers to deal with authorities
3. Environmental Compliance: Detailed section needed for projects requiring environmental clearances
4. Relocation Terms: Required when existing occupants need temporary or permanent relocation
5. Marketing Rights: Detailed marketing arrangements when developer handles property sales
6. Project Financing: Included when specific financing arrangements need to be documented
7. Insurance: Detailed insurance requirements for high-value or high-risk projects
8. Existing Tenancies: Required when property has existing tenants or occupants
1. Schedule A - Property Details: Detailed property description, boundaries, and title documents
2. Schedule B - Development Plans: Architectural plans, layouts, and specifications
3. Schedule C - Revenue Sharing Structure: Detailed calculation method for profit sharing
4. Schedule D - Project Timeline: Detailed construction and development schedule
5. Schedule E - Approvals Required: List of necessary permits and approvals
6. Schedule F - Area Allocation: Distribution of built-up area between parties
7. Appendix 1 - Title Documents: Copies of property ownership documents
8. Appendix 2 - Power of Attorney: Format of power of attorney (if applicable)
9. Appendix 3 - Bank Guarantee Format: Format for bank guarantee (if applicable)
10. Appendix 4 - Existing Encumbrances: Details of any existing liens or encumbrances
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Property Development
Infrastructure
Commercial Real Estate
Residential Real Estate
Urban Development
Industrial Development
Hospitality
Retail Development
Relevant Teams
Legal
Real Estate
Property Development
Construction
Finance
Compliance
Business Development
Project Management
Operations
Risk Management
Relevant Roles
Real Estate Developer
Property Manager
Legal Counsel
Development Director
Project Manager
Land Acquisition Manager
Construction Manager
Real Estate Investment Manager
Compliance Officer
Contract Manager
Business Development Manager
Real Estate Attorney
Property Development Executive
Urban Planning Manager
Financial Controller
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