By Gujarat Bureau
In its direction in circular GujRERA/Circular/20/2020 dated 13/2/2020, Gujarat RERA have directed promoters and builders to maintain specific format of the Development Agreement and other documents which are to be uploaded during the registration process.
In the circular, the Hon’ble Authority have maintained that format for Non encumbrance certificate, Development Agreement, Proforma for Allotment Letter, proforma for Agreement for Sale, proforma for sale deed, From B Affidavit by Promoters must be according to the direction in the cercular.
The Circular maintained that in Development Agreements, signature of all the landlords and partners, family members must be there, if it is executed through Power of Attorney then the POA must be signed by all the landlords.
The Circular further maintained that all development right, TDR, FSI and all future FSI must specifically mentioned and given to the developer besides role and advantage of landlords. The Development Agreement must also clarify rights and liabilities of parties, the circular said.
The Circular is also published in latest edition of Saptakala Real Estate Law Journal.