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Builder Joint Venture Agreement Template for India

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Key Requirements PROMPT example:

Builder Joint Venture Agreement

"I need a Builder Joint Venture Agreement for a residential project in Mumbai where my company will contribute construction expertise and capital, while the other party is contributing a 5-acre land parcel; the project is scheduled to commence in March 2025."

Document background
The Builder Joint Venture Agreement is a crucial document in India's real estate and construction sector, used when two or more parties wish to collaborate on a construction or development project while sharing resources, risks, and rewards. This agreement becomes necessary when developers want to pool resources, combine expertise, or share project risks, particularly in large-scale developments. The document must comply with Indian legislation, including RERA, the Indian Contract Act, and various construction and environmental regulations. It typically covers land contribution, development rights, construction responsibilities, profit sharing, project management, and regulatory compliance. The agreement is particularly relevant in scenarios where one party might contribute land while another brings construction expertise or capital, or when multiple developers want to collaborate on a significant project.
Suggested Sections

1. Parties: Details of the builder/developer and joint venture partner(s), including registration numbers and RERA IDs

2. Background: Context of the joint venture, including project overview and parties' expertise

3. Definitions and Interpretation: Definitions of key terms and rules of interpretation

4. Project Details: Comprehensive description of the construction project, including location, scope, and specifications

5. Contributions of Parties: Detailed breakdown of what each party brings to the venture (land, capital, expertise, etc.)

6. Roles and Responsibilities: Specific duties and obligations of each party in the project

7. Project Management: Structure and processes for managing the project, including decision-making mechanisms

8. Financial Terms: Investment details, profit sharing ratios, expense allocation, and accounting procedures

9. Construction Timeline: Project schedule, milestones, and completion deadlines

10. Regulatory Compliance: Obligations regarding RERA, environmental, and other regulatory requirements

11. Representations and Warranties: Standard and specific warranties given by each party

12. Term and Termination: Duration of agreement and circumstances for termination

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

14. Force Majeure: Provisions for handling unforeseen circumstances

15. Confidentiality: Protection of confidential information and trade secrets

16. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

17. Miscellaneous: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Bank Account Operations: Detailed procedures for operating joint venture bank accounts, required if separate accounts are maintained

2. Marketing and Branding: Terms for project marketing and brand usage, needed if significant marketing activities are planned

3. Insurance: Specific insurance requirements and cost allocation, if not covered under general responsibilities

4. Intellectual Property Rights: IP ownership and usage rights, needed if significant IP is involved

5. Non-Compete: Restrictions on competing projects, optional based on business requirements

6. Exit Mechanism: Detailed procedures for party exit or project transfer, if not covered in main termination clause

7. Employee Matters: Terms regarding shared employees or contractors, if applicable

8. Environmental Management: Detailed environmental compliance procedures, if project has significant environmental impact

Suggested Schedules

1. Schedule 1 - Property Details: Legal description of land, title documents, and encumbrances

2. Schedule 2 - Project Specifications: Detailed architectural plans, construction specifications, and amenities

3. Schedule 3 - Financial Model: Detailed financial projections, cost estimates, and profit sharing calculations

4. Schedule 4 - Construction Schedule: Detailed timeline with milestones and completion dates

5. Schedule 5 - Contributions Schedule: Detailed breakdown of each party's contributions with timelines

6. Schedule 6 - Required Approvals: List of all required regulatory approvals and permits

7. Schedule 7 - Management Structure: Organizational chart and decision-making procedures

8. Appendix A - Power of Attorney: Format of power of attorney for project execution

9. Appendix B - Bank Account Details: Details of project bank accounts and authorized signatories

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






















































Clauses











































Relevant Industries

Real Estate Development

Construction

Infrastructure Development

Commercial Property Development

Residential Property Development

Mixed-use Development

Urban Planning

Industrial Construction

Hospitality Construction

Retail Development

Relevant Teams

Legal

Real Estate

Construction

Project Management

Business Development

Finance

Compliance

Operations

Risk Management

Property Development

Commercial

Investment

Planning

Architecture

Joint Venture Management

Relevant Roles

Chief Executive Officer

Managing Director

Development Director

Construction Manager

Project Manager

Legal Counsel

Chief Financial Officer

Land Acquisition Manager

Business Development Manager

Contract Manager

Risk Manager

Compliance Officer

Property Development Manager

Joint Venture Manager

Real Estate Director

Investment Manager

Operations Director

Planning Manager

Architecture Manager

Commercial Director

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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