Accounting Of Joint Development Agreement

The landowner approached the complainant`s developer and proposed the property for joint development, taking into account the complainant`s expertise in the development of residential land. As a result, based on the landowner`s statements, the complainant agreed to develop the project on the land. The JDA authorized the plaintiff developer to make the planned property a housing plan. On 27-7-17, we signed a 100/ stamp paper agreement – which the contracting authority gives to the owner of the land 40 Lakhs as a refundable deposit, which is reimbursed in cash or in the same way. by freeing up an apartment. After the partition, the landmaster received 9 apartments and the client 11 apartments. On 28-7-18, the JDA was registered. To conclude the agreement, the refundable deposit was paid as a non-refundable deposit and only 8 apartments were taken by the contracting authority and 12 apartments were taken by the contracting authority. Construction will be completed by October 2019. . .