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The Builder Development Agreement serves as a foundational document in Indian real estate development projects, establishing the legal and operational framework for property development ventures. This agreement is typically used when a landowner wishes to develop their property but lacks the expertise or resources to do so independently, thus partnering with a professional developer. The document is structured to comply with the Real Estate (Regulation and Development) Act 2016 (RERA) and other relevant Indian legislation, including state-specific real estate laws and local building codes. It comprehensively covers all aspects of the development project, from initial planning and approvals to completion and handover, including specific provisions for revenue sharing or area sharing between the parties. The Builder Development Agreement is particularly crucial in today's regulated real estate environment, where clear documentation and compliance with statutory requirements are essential for project success.

1. Parties: Details of the landowner(s) and the developer/builder, including their complete legal names, addresses, and registration details

2. Background: Context of the agreement, including brief description of the property, development intention, and parties' capabilities

3. Definitions: Comprehensive definitions of terms used throughout the agreement, including technical construction and development terms

4. Project Details: Detailed description of the development project, including nature of development, built-up area, and project specifications

5. Rights and Obligations of the Developer: Comprehensive listing of developer's responsibilities, including construction, approvals, timelines, and quality standards

6. Rights and Obligations of the Landowner: Landowner's commitments, including providing clear title, cooperation in approvals, and maintaining property status

7. Consideration and Payment Terms: Financial terms including revenue sharing or area sharing arrangement, payment schedule, and security deposits

8. Development Timeline: Project milestones, completion schedule, and consequences of delays

9. Approvals and Compliance: Responsibility for obtaining necessary permits, RERA compliance, and other regulatory requirements

10. Construction Standards: Quality parameters, materials specifications, and construction methodology requirements

11. Title and Ownership: Clarity on property ownership, development rights, and final distribution of built units

12. Representations and Warranties: Parties' declarations regarding their capacity, authority, and property status

13. Indemnification: Mutual indemnification clauses for breach of obligations or representations

14. Term and Termination: Duration of agreement, termination triggers, and consequences of termination

15. Dispute Resolution: Mechanism for resolving disputes, including arbitration provisions

16. Force Majeure: Provisions for unforeseen circumstances affecting project execution

17. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction

18. Notices: Method and addresses for formal communications between parties

19. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments