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A Development Agreement is a key document essentially creating a charge and tangible interest of the Developers in the redevelopment of property of the Society. As per Section 17(1) of the Registration Act, 1908, compulsory registration is necessary in case of instruments/documents. The said Section reads as ‚Äúwhich purport or operate to create, declare, assign, limit or extinguish, whether in present or in future, any rights, title or interest, whether vested or contingent, of the value of the one hundred rupees and upwards, to or in immovable property,‚Ä̬†A Development Agreement is undisputedly covered within the ambit and domain of this statutory provision,

Serious problems can arise if an unregistered Development Agreement becomes subject-matter of a motion in Court and the Court finds it difficult to even admit the Development Agreement in evidence/as an exhibit. Likewise, post-execution of the Development Agreement, when serious disputes arise between the Society and the Developers, there can be serious difficulties relating to lawful maintenance of various financial/technical terms such as payment of Inconvenience & Hardship Compensation (Corpus), Displacement Allowance (Rent), Brokerage, Transportation, Bank Guarantee, Additional Carpet Area, Common Areas and Amenities to be shared by the Members of the Society inter-se when they find that the core-document, they trust upon, in not admissible as an evidence in the Court of Law since not registered. 

Therefore, it is highly recommended that the Development Agreement be duly registered for the satisfaction of all the parties concerned and in the interest of justice, reasonableness and fair-play. The Office Bearers/Managing Committee of the Societies to take a note that certified copies of various documents which are to be attached with the Development Agreement as annexure while registration of the same. A comprehensive list of these documents has been listed below:

 1.  Original Development Agreement.

 2.  Copies of Consent Letters from Members.

 3.  Schedule: Description of property.

 4.  Detailed list of individual flat mentioning Name, Wing,  Flat no., Floor No., Existing Carpet Area and Additional Carpet Area offered = New Carpet Area etc.

 5.  Property Card.

 6.  D P Remarks

 7.  Block Plan and Location Plan.

 8.  Registration Certificate of the Society.

 9.  NOC from Dy. Registrar of respective Ward.

10. Search Report/Title Clearance Certificate from the Advocate of the Society.

11. Latest Property Assessment Tax and other Taxes.

12. Latest Electricity Bill.

13. Latest Water Bill.

14. Minutes containing the Resolution of SGBM: Selection of Developers.

15. Minutes containing the Resolution of SGBM: Powers awarded to Office Bearers to execute all the Documents pertaining to the redevelopment of the Society

16. Power of Attorney.

17. PAN of the Society and the Developers.

18. Detailed Chart indicating Inconvenience & Hardship Compensation (Corpus), Displacement Allowance (Rent), Brokerage, Transportation, Corpus and Rent to be paid by the Developers to each Member.