Agreement for Transfer of Development Rights (India)
This template is an agreement for the transfer of development rights (TDR) and construction permissions within a larger real estate project in India. It outlines the legal relationship between builders, developers, and purchasers regarding the right to construct specific buildings, manage infrastructure, and sell individual units on an ownership basis.
Agreement for Transfer of Development Rights
THIS AGREEMENT
made at ……………. this …………………… day of ……………………, 2000, between
M/s XYZ Builders,
a firm registered under Indian Partnership Act, 1932, having their office at Bombay, (hereinafter referred to as the Vendors, which expression unless repugnant to the context or meaning thereof mean and include the partners for the time being of the said firm, their survivor or survivors and the heirs, executors and administrators of last survivor) of the FIRST PART,
ABC Developers Pvt. Ltd. Co.,
incorporated and registered under the Companies Act, 1956 having their office at ……………….. hereinafter referred to as
“(The Confirming Party”, which expression shall unless be repugnant to the context or meaning thereof be deemed to include its successors and assigns) of the SECOND PART and
M/s. MNP Builders & Developers,
a firm registered under Indian Partnership Act, 1932 having their office at ………………………. hereinafter referred to as “The Purchaser”
which expression shall unless be repugnant to the context or meaning thereof mean and include the partners for the time being of the said firm, their survivor or survivors and the heirs, executors and administrators of such last survivor) of the THIRD PART.
WHEREAS by two deeds of Conveyance all made between …………….of the ONE PART and Vendors of the other respectively (1) dated ……………….. registered under No……………… dated ………………. registered under No…………….. with the Sub-Registrar at ……………….. the Vendors purchased different pieces of land bearing No………. of ……………. in the registration Sub-district of District..………………….. admeasuring about …………. sq. mts. (hereinafter referred to as the said “Bigger Plot”) and the said ………………….. granted and conveyed unto the Vendors the said bigger plot;
AND WHEREAS the layout named as …………………… Complex in respect of the said Bigger Plot and the Building plans for development inter alia of the said Sector …… Plot by construction of 1 to ….. Buildings thereon have been sanctioned by the Collector of …………… under No ……………….. on the ……………….. ;
AND WHEREAS on account of the internal roads of the said layout the said Bigger Plot has been divided into four sub-divided Plots including a sub- divided Plot known as Sector No. …… bearing No…………. of ………………………………… and admeasuring about ………….. sq. mts. shown by red boundary on the said plan annexed hereto and hereinafter referred to as the said Sector …….. Plot;
AND WHEREAS the full FAR available in respect of the said Sector ….. Plot has not been utilised by construction of the said …. buildings and that there is a scope for construction of additional buildings to consume the full FAR in respect of the said Sector …. plot;
AND WHEREAS the Vendors have engaged the services of M/s. …………………………, Architects & Consulting Engineers for preparation of structural designs and drawings of the said buildings and also if necessary for supervising construction thereof;
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