Joint Venture Agreement

This Joint Venture Agreement (hereinafter called “Agreement”) is entered on the 24th
day of September , 2025

Between
[Link] Dilip Khanna,(Aadhar No.6639 6106 0903) aged about 42 years, son of
[Link] kumar Khanna, residing at Flat no. F-121-A, “F” Block, 1st Street, Anna Nagar
East, Chennai-600102,(hereinafter referred to as the ”Owner”) which expression shall,
wherever the context so admits, mean and includes, also his successors in office and
assigns, of the First Part;

And

M/[Link] Constructions Pvt. Ltd.(CIN:U45309TN2019PTC129723)

Whereas [Link] Dilip Kumar is the sole and absolute owner of the property
comprised in Survey No.108/34A1 Part, Plot No.1603-A an extent of 1800 [Link] Ram
Nagar 11th Main road Madipakkam Chennai- 600099 and building thereon, EB Service
connection,Fittings etc., from Mrs. [Link] w/o [Link] by way of a duly
registered sale deeddated , registered as [Link]. , on the file of SRO, Velachery, got
possession andenjoyment and became the absolute [Link] transferred in the
name of [Link] in Patta No.21788 as per Patta SurveyNo.108/34A1.

Whereas the “Developer” is a reputed Builder and expressed that it has got rich
experience in constructing residential villas, in and around Chennai.
Whereas the OWNER is desirous of converting the Schedule mentioned property into a
residential Apartments, and knowing the interest of the Owner and the assurance given
by the owner that the schedule mentioned property is free from any encumbrance, the
DEVELOPER approached the OWNER and after having a detailed discussion, the
OWNER and the
DEVELOPER has agreed to into a formal JOINT VENTURE AGREEMENT by reducing
the terms of understanding to develop the schedule mentioned property into a scheme
of residential Apartments. Whereas the DEVELOPER after visiting the Schedule
mentioned property and having understood the requirement of the OWNER, and
assured that necessary plan approval shall be obtained from the competent authorities
and convert the land into residential flats.

Whereas the OWNER and the DEVELOPER have mutually agreed to entrust the
development activity to the developer on the following terms and conditions:
In consideration of the owner handling over the vacant peaceful possession of the
schedule mentioned property mentioned this Joint Venture Agreement is entered
between the parties. In consideration of the developer agreeing to pay consideration as
detailed here in below and also hand over the said amount for the [Link] allotted (as per
the plan attached here with) to the party of the first part, this Joint Venture Agreement is
entered between the parties.
Now this Joint Venture Agreement witness as follows:
1) In consideration of the reciprocal promises and mutual obligations and covenants
contained in this agreement an in consideration of the payment to be made by the
developer to the owner a sum of Rs.3,25,00,000/- (Rupees Three Crores Twenty Five
Lakhs Only), in the manner appearing hereunder, the developer shall develop the
Schedule mentioned property into a residential Apartments.
Whereas the OWNER and DEVELOPER after conversation has fixed the sale
consideration of a sum of Rs.3,25,00,000/- (Rupees Three Crores Twenty Five Lakhs
Only)
The Developer has to pay the sale consideration amount is as follows:
1) A sum Rs.3,25,00,000/- (Rupees Three Crores Twenty Five Lakhs Only) to be paid
by way of. Bank Transfer during the sale of first units and the same was received by
the Owner. The Developer should manage to take his/her part only after settling the
owner
2) The developer is at liberty to put up construction as per the working drawing plan
and sell the residential units as mentioned in the Plan at the consideration solely
determined by the developer and at the cost and expense of the developer.
3) The developer shall identify prospective buyers and develop the residential villas as
per its plan. The owner on the date of execution of this agreement had handed over
photocopies of he original documents of title, etc., pertaining to the Schedule
mentioned property to the developer to enable the developer to handed over the
same to the prospective buyers for legal scrutiny. The developer shall ensure that the
photocopies of these documents are not misused by anyone claiming through him or
by any third party.
4) To enable the developer to carry out the scope of its activities as contemplated
herein, the owners shall duly empower the developer the approach the Chennai
Metropolitan Development Authority/Chennai corporation or such other competent
authorities to get the required permissions and sanctions and for appointing
Contractors, Civil Engineers, Architects, Consultants as desired by the Developer and
also execute these agreements, deeds, etc., as may be required by the authorities.
5) The developer assures that necessary plan approval for the construction will be
obtained from the competent authorities at his cost and then commences the
construction.
6) The developer shall bear all the expenses in connection with the approval of the plan.
7) The developer hereby confirms that he shall not deliver vacant possession of the
residential units to any other purchasers, unless the residential unit agreed to hand over
to the party of the first part.
8) The basis of this agreement will be that of an independent contractor and hence the
developer will be fully responsible for any injury or loss sustained by the workers in the
course of construction and parry of the first part will be in no way responsible for any
such injury or loss sustained by the workers.
9) Whereas the owner undertakes he has not right to sale of the residential flats to be
constructed by the Developer at his own cost.
10) The developer hereby confirms that she shall complete the project within one year
from the date of this agreement. If the developer fails to complete the project within said
time The owner can take any legal action.
SCHEDULE OF PROPERTY
All that piece and parcel of house and Ground bearing PLOT NO.1603-A AN EXTENT
OF 2400 [Link], comprised in Survey No.108/34A1, Patta No.21788 as per Patta
Zone.14,Situated at MADIPAKKAM Village, “RAM NAGAR SOUTH” Sholinganallur
Taluk,
CHENNAI District and bounded on
SIDES MEASUREMENTS BOUNDARIES
North by 60 feet RAM NAGAR 11TH MAIN ROAD
South by 60 feet PLOT NO.1603-B
East by 30 feet PLOT NO 1602
West by 30 feet RAM NAGAR 6TH CROSS STREET
The property is within the Registration District of South Chennai and Sub Registration
Office Velachery and within the Chennai Corporation Limits.