Agreement for Transfer of Development Right (TDR) [CD1]
THIS
AGREEMENT made
at __________ this ________ day of _________________ in the Christian Year Two
Thousand _____ BETWEEN XYZ of
___________, Indian Inhabitant having address at
_____________________________________, hereinafter called “THE TRANSFEROR” (which expression shall unless repugnant to the
context or meaning thereof be deemed to include his heirs, executors and
administrators) of the One Part; AND M/S.
ABC & CO., a registered partnership firm having its office at
____________________
_________________________________________________________________________
__________________________, hereinafter called “THE TRANSFEREES” (which expression shall unless repugnant to the
context or meaning thereof mean and include the partners or partner for the
time being of the firm, the survivors or survivor of them and the heirs,
executors and administrators of the last surviving partner and their his/her
assigns) of the Other Part;
WHEREAS:—
(a)
The Transferor was the owner of immoveable properties being
lands bearing C.T.S. Nos. ____________ at Village ____________, more
particularly described in the FIRST SCHEDULE hereunder written (hereinafter
referred to as “the said Property”).
(b)
Under the Development Plan the said property was reserved for
recreation Ground. In view of the provisions of the Development Control
Regulations, 1991, the Transferor on surrender of the said property to the
Municipal Corporation was entitled to be awarded Transferable Development
Rights (TDR) in respect of Floor Space Index (FSI) of the said property for
being utilized on other properties in accordance with the provisions of the
said Development Control Regulations, 1991.
(c)
The Transferor has handed over possession of the said
property to the Municipal Corporation of Greater Mumbai and the said Municipal
Corporation has issued
Development Rights Certificate No.
____________ dated __________ favoring the Transferor to the extent of _______
sq.mts. i.e. __________sq.ft. The
true copy of the said Development Rights Certificate in favor of the Transferor
is hereto annexed and marked Annexure
“A”.
(d)
The Transferor has agreed to transfer the benefit of
utilization of TDR of the FSI to the extent of ______ sq.mts. i.e. ______ sq.ft. out of the total FSI
available to the Transferor under the aforesaid Development Rights Certificate
to the Transferees on the terms and conditions appearing hereinafter.
(e)
The parties hereto are desirous of recording the said terms
and conditions agreed upon between them.
NOW THIS AGREEMENT WITNESSETH AND IT
IS HEREBY MUTUALLY AGREED BY AND BETWEEN THE PARTIES HERETO as follows:—
1.
The Transferor hereby declares that he is fully entitled to
the Development Rights Certificate No. ___________ dated _________ to the
extent of _______ sq.mts. issued in his favor by the Municipal Corporation of
Greater Mumbai, as per the provisions of the Development Control Regulations
1991 and which is more particularly described in the Second Schedule hereunder written, and the same is free from all
encumbrances, claims, charges or lien of whatsoever nature.
2.
The Transferor hereby transfers/sells the benefit of TDR of
the FSI to the extent of
_______
sq.mts. i.e. _______ sq.fts. out of
the aforesaid Development Rights Certificate and more particularly described in
the Second Schedule hereunder written for the total consideration of Rs.
__________ (Rupees
___________________________only) and
which consideration is duly paid by the Transferees to the Transferor in full
prior to the execution hereof. The Transferor doth hereby admit, acknowledge
and confirm the receipt of the said amount.
3.
The rights of the Transferees and/or their nominees under the
said DRC are limited and restricted to T.D.R. of _______ sq.mts. i.e. _____ sq.fts. only in the ratio of
1 sq.mtr.:
10.764 sq.ft.
4.
The Transferees shall be entitled to get DRC to the extent of
______ sq.mts. duly endorsed by the Municipal Commissioner in favor of
themselves and/or their nominees by endorsement thereof on the original DRC in
their favor.
5.
All premium and other charges payable to the Municipal
Corporation of Greater Mumbai and other concerned authorities for utilization
of the said FSI of ______ sq.mts. shall be paid by the Transferees alone.
6.
The Transferor has already signed the DRC utilization form
and handed over the same to the Transferees. The Transferor shall further
execute, at the costs and expenses of the Transferees any further writings,
documents and sign all plans, forms and applications as may from time to time
be necessary for the purpose of enabling the Transferees and/or their nominees
to utilize the said FSI to the extent of ______ sq.mts. i.e. _____ sq.ft. on
any other property of the choice of the Transferees and/or their nominees in
accordance with the provisions of Development Control Regulations, 1991.
7.
The stamp duty and registration charges, if any, in respect
of this document shall be borne and paid by the Transferees.
THE FIRST SCHEDULE ABOVE REFERRED TO:
(Give
detailed description of the subject property)
THE SECOND SCHEDULE ABOVE REFERRED
TO:
Development Rights Certificate No.
_______________ dated ______ for _______ sq.mts. granted by Municipal
Corporation of Greater Mumbai in favor to the Transferor in lieu of surrender
of the property described in the First Schedule above referred to:
SIGNED AND DELIVERED BY THE )
Within Named TRANSFEROR XYZ, ) in the presence of :— )
SIGNED AND DELIVERED by the
)
Within Named TRANSFEREES )
M/s. ABC & CO. a
partnership firm by the hand of )
it’s Partner ABC in the presence of :— )
1.
2.
RECEIVED the day and year first
herein above written of and from the within Named Transferees the sum of Rs.
____________/- (Rupees ___________________________ only) by cheque
No.__________ dated __________ drawn on _______________________ being the
agreed amount to be paid by them to me as within mentioned.
Rs. ___________/-
|
WITNESSES: |
I
SAY RECEIVED |
|
1. |
(XYZ) |
|
2. |
TRANSFEROR |
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