Joint Venture Agreement Format In Tamil

Since a joint venture agreement is essentially a partnership and creates a royalty and a developer`s interest in the owner`s ownership, the registration of the joint venture agreement may take place. However, as a general rule, joint venture agreements are not registered and the developer only obtains a power of attorney to enter into a sale agreement with the purchaser for the purpose of transferring the undivided share of the land (UDS). It is also due to the fact that most developers find it difficult to reveal the real and real review of the project and are eager to develop the country in a short period of time, make quick returns and continue. Serious problems can arise when an unregord joint venture agreement becomes a bone of contention between the landowner and the developer. Similarly, there may be problems with the reservation of open space (OSR) and other common amenities shared by the occupants of the building in the event of an underlying error in the joint enterprise agreement on such matters. It is therefore strongly recommended that the Community Society Agreement be registered to the satisfaction of all parties involved. The stamp duty due for the registration of the joint enterprise agreement would correspond to the stamp duty due for any ordinary agreement; in Tamil Nadu, it`s 1 percent, provided there is no underlying sale of UDS to the owner`s developer. It must be understood that, by law, it is considered that the developer is only temporarily in possession of the land for the construction work by them and absolute ownership of the land would always be transferred to the owner. Measures to avoid disputes within the framework of a joint enterprise agreement Since the parties to a joint venture can do different things and possibly different dimensions, a partnership must be structured to provide economic incentives to all parties. Differences in the tax status of investors can also affect the structure of partnerships. A joint venture can adopt different forms of partnership.

The most common is the limited partnership. As with all partnerships, there must be at least one compleimist and any number of sponsors. In general, real estate sponsors are the investors who provide the largest share of equity, while general partners are generally responsible for managing the company`s assets and may contribute a relatively small share of the required equity.