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Apartment Joint Venture Agreement Template for India

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Key Requirements PROMPT example:

Apartment Joint Venture Agreement

"I need an Apartment Joint Venture Agreement for a 200-unit residential development project in Mumbai, where my company will contribute the land and partner with ABC Developers who will handle construction and development, with project completion planned for March 2025."

Document background
The Apartment Joint Venture Agreement is essential for structuring partnerships between landowners and developers in India's residential real estate sector. This document becomes necessary when parties wish to combine their resources - typically land from one party and development expertise/capital from another - to undertake apartment construction projects. It needs to comply with the Real Estate (Regulation and Development) Act, 2016, state-specific real estate laws, and local building regulations. The agreement details profit-sharing mechanisms, development responsibilities, project timelines, risk allocation, and dispute resolution procedures. It's particularly relevant in urban development contexts where landowners seek to maximize property value through professional development partnerships, while developers aim to expand their project portfolio without substantial land acquisition costs.
Suggested Sections

1. Parties: Identification and details of the joint venture partners, including the landowner and developer

2. Background: Context of the joint venture, including property details and purpose of the development

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Project Description: Detailed description of the development project, including scope and specifications

5. Contributions of Parties: Specific contributions from each party (land, capital, expertise, etc.)

6. Rights and Obligations: Detailed responsibilities and rights of each party in the joint venture

7. Development Timeline: Project milestones, construction schedule, and completion deadlines

8. Revenue Sharing: Formula and mechanisms for sharing profits, losses, and revenues

9. Project Management: Management structure, decision-making process, and operational control

10. Representations and Warranties: Statements of fact and assurances from all parties

11. Risk Allocation: Distribution of risks and liabilities between parties

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

13. Dispute Resolution: Procedures for resolving disputes between parties

14. Governing Law: Applicable laws and jurisdiction

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

16. Notices: Communication procedures between parties

17. Confidentiality: Protection of confidential information

18. General Provisions: Miscellaneous legal provisions including severability, entire agreement, etc.

Optional Sections

1. Foreign Investment Compliance: Required when foreign investment is involved, detailing FEMA compliance and foreign ownership structures

2. Bank Financing: Include when project financing involves bank loans, detailing lending terms and security arrangements

3. Environmental Compliance: Required for projects requiring specific environmental clearances

4. Phased Development: Include when the project will be developed in multiple phases

5. Marketing and Sales: Include when specific arrangements for marketing and sales responsibilities need to be detailed

6. Property Management: Required when the agreement includes post-completion management arrangements

7. Exit Mechanisms: Detailed procedures for party exit when specific exit options are contemplated

8. Intellectual Property Rights: Include when branding or proprietary designs are involved

Suggested Schedules

1. Property Details: Legal description of the property, including title documents and encumbrances

2. Construction Specifications: Detailed technical specifications for the development

3. Financial Model: Detailed calculations for cost sharing and revenue distribution

4. Project Timeline: Detailed construction and development schedule with milestones

5. Approvals and Permits: List of required regulatory approvals and current status

6. Area Statement: Detailed breakdown of built-up areas and unit distributions

7. Payment Schedule: Timeline and terms of financial contributions from parties

8. Marketing Plan: Detailed marketing strategy and budget

9. Forms of Notices: Template forms for various notices under the agreement

10. Quality Standards: Specifications for construction quality and materials

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 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

Construction

Property Development

Urban Planning

Infrastructure

Property Investment

Architecture & Design

Property Management

Relevant Teams

Legal

Real Estate

Development

Construction

Finance

Compliance

Business Development

Investment

Project Management

Operations

Risk Management

Property Management

Relevant Roles

Real Estate Developer

Property Owner

Development Director

Legal Counsel

Project Manager

Construction Manager

Investment Manager

Real Estate Manager

Business Development Manager

Finance Director

Compliance Officer

Property Development Executive

Joint Venture Manager

Real Estate Investment Analyst

Urban Planning Manager

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Real Estate Partnership Manager

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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