Land Development Agreement

Land development is a multifaceted process that comprises the assessment, preparation, engineering, and construction of developments on a piece of land based on codes and regulations set by the municipality and regulatory agencies. A landowner contributes his land for the construction of a real estate project and the developer undertakes the responsibility for the development of property, obtaining approvals, launching, and marketing the project.Land development is altering the landscape in any number of ways such as- altering landforms from a natural or semi-natural state for a purpose such as agriculture or housing. Splitting real estate into lots, typically for the purpose of building homes.A development agreement is a legally binding contract between a property owner or developer and a local government, often including terms not otherwise required through existing regulations.

These agreements can specify various elements of the development process ranging from phasing of a larger master-planned community, to tax-sharing for retail development, to critical infrastructure responsibilities.A development agreement provides assurances to the developer that the development regulations that apply to the project will not change during the term of the agreement. The city or county may require conditions to mitigate project impacts, as well as clarification about project phasing and timing of public improvements.The key object of a development agreement is to fix the manner in which both the landowner and builder set out their rights and obligation as the owner and builders. A well-drafted development agreement ensures that the landowner and the developer do not come into conflict at a later date. Further, it also ensures that the development of the land is carried out in a manner that complies with the law and that statutory authorities do not take any penal action against the project.

Documents Required


Passport Photo

Passport photo of all parties.


PAN Card

PAN card of all parties.


Aadhar Card

Aadhar card of all parties.


Utility Bill

Utility bill of Electricity or Telephone.


Address Proof

Valid Address Proof of all the parties.


Licence

Valid Driving Licence of all the parties.


Terms and Conditions

Terms and Conditions between the parties.


Other Documents

Other documents will be intimated through e-mail.

FAQ

Land development is a complex process that involves the evaluation, planning, engineering, and construction of improvements on a piece of land based on codes and regulations set by the municipality and regulatory agencies.

While development agreements can be enormous and multifaceted/ complex, their main constituents can be extracted into a few key requirements. Most importantly- the development agreement should specify the facts and details, like the survey number, landowner’s name, boundaries and area and extent of the property must be properly mentioned. Along with this, proof of the ownership of the land such as title deeds, 7/12 extracts, agricultural to non-agricultural conversion certificates etc.

They ensure that, any real estate developer is satisfied with regard to the rightful claim of the landowner upon the property and will not raise any disputes at a later date regarding the same. As well as the developer can also set out his duties and obligations under this agreement. Both the parties can thereby mutually agree to Act and work according to the clauses agreed and signed by the parties in the agreement.

The purpose of a land development agreement is to ascertain that the landowner and the developer will have to determine who will be responsible for what.

Yes, Land development agreements are legally binding on all the parties to the contract.