It is quite normal for the owner of the property to transfer the rights/titles of the property to his family member as part of the family subdivision. These transfers are executed by GPA. In other scenarios, the owner asks the buyer to transfer the money to a family member. The reason for these scenarios is “legacy.” The country is hereditary and, in most cases, I have found that the joint development agreement is signed by 15 to 20 people, including children under the age of 10. In such cases, either one of the landowners holds the GPA of all parties involved, or there is a family agreement between the landowners to allow a person to cede the property through the GPA. In many cases, I have observed that the landowners owned Benami. Therefore, the buyer should be especially careful. 2. Delivery date for JDA 1. Land distribution: The delivery time is the time during which possession is transferred by the introduction of a transport letter or by the indication of a letter or attribution area. 2.
Revenue participation: the delivery period is the date on which the invoice is increased or the payment is made, depending on the previous date. 3. Delivery Value The value of the delivery is determined against the valuation rules set out in Section 15 of the Central Goods and Services Tax Act 2017 when calculating the value of the JDA-related offer. The valuation should be based on the actual value of the transaction or the cash power received. Therefore, when a developer enters into a development contract with a landowner, the landowner would be required if the developer transfers the ownership or rights to the complex, building or land built to the landowner by a recommended letter or letter of attribution. Therefore, if the landowner receives a building site from the developer in exchange for the provision of land, the landowner is responsible for the payment of the GST. The GST rate for such a transaction would be 18%. 1- Are the JDA agreement, the project management agreement and the construction agreement the same document? Please note that all of these cases are a bit complex and that, as a buyer, you should only interact with the owner of the land authorized by the joint development contract. In many cases, the indirect beneficiary of these transactions, i.e. the signatory of the family comparison contract, goes directly to the buyers to conclude the agreement. The likelihood of fraud/fraud is high in such cases. Therefore, any agreement should be made directly with the owner of the land whose name is mentioned in the JDA.
Finally, you should also check the copy of GPA or Family Settlement Agreement and review to get more clarity. In the case of third-party buyers, sales vouchers would be registered in their favour for the undivided share of the land and the corresponding construction agreement. Although agreements with the developer were previously called Builders Agreement, after the introduction of the TN RERA rules, it is advisable to resume the term construction contract.