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The Development Lease Agreement is a crucial document in Indian real estate development, particularly when landowners wish to retain ownership while allowing developers to construct and commercially exploit the property. This agreement type is commonly used for large-scale development projects, mixed-use developments, and commercial complexes across India. It details both the lease terms and development rights, including construction specifications, timelines, and regulatory compliance requirements. The document must adhere to both central and state-specific real estate laws, including RERA requirements where applicable. A Development Lease Agreement typically includes provisions for phased development, quality standards, payment structures, and eventual handover terms. It's particularly relevant in situations where outright sale is not preferred or possible, such as with institutional or government-owned lands.

1. Parties: Details of the lessor/landowner and lessee/developer including registration details and addresses

2. Background: Context of the agreement, including property details and development intent

3. Definitions: Definitions of key terms used throughout the agreement

4. Grant of Lease: Terms of the lease grant, duration, and permitted use

5. Development Rights and Obligations: Specific rights granted for development and corresponding obligations

6. Development Timeline: Phases of development, milestones, and completion schedules

7. Rent and Other Payments: Lease rent, development premium, maintenance charges, and payment terms

8. Security Deposit: Details of security deposit amount, terms, and conditions for refund

9. Approvals and Compliance: Responsibility for obtaining necessary permits and maintaining compliance

10. Construction Standards: Quality standards, specifications, and compliance requirements

11. Representations and Warranties: Statements of fact and assurances from both parties

12. Covenants: Ongoing obligations of both parties during development and lease period

13. Insurance and Indemnity: Insurance requirements and indemnification obligations

14. Default and Termination: Events of default, remedies, and termination provisions

15. Handover and Completion: Process for completion certification and property handover

16. Dispute Resolution: Mechanism for resolving disputes between parties

17. Governing Law: Applicable law and jurisdiction

18. Notices: Communication protocols and address for notices

19. Miscellaneous: Standard boilerplate provisions including force majeure, severability, etc.