Document Sheet ‘This JOINT DEVELOPMENT AGREEMENT is made and executed on this 14% day of March 2018 at Bengaluru. BETWEEN: SRI N. RAJANNA Aged about 57 years, S/o. Nanjappa, R/at Sompura Village, Kengeri Hobli, Bengaluru South Taluk, Bengaluru (PAN No.AKPPR6410A) Hereinafter collectively referred to as the “OWNER/FIRST PARTY” (Which term shall, whenever the context so permit or admits, mean andl include hie heirs, legal representatives, administrators, executors and assigns etc.) of the FIRST PART AND: K.N.S. RESIDENCY LLP Having its registered office at No.1125/12, 1*t Floor, Service Road, Hampinagar, Vijayanagar 2™4 Stage, Bengaluru - 560 104. (PAN No.AANFK9207E) REPRESENTED BY ITS DESIGNATED PARTNER, Mr. K.N. Surendra. Hereinafter called as the “DEVELOPER/SECOND PARTY” (which term shall, whenever the context so permits or admits, mean and include its heirs, legal representatives, administrators, executors and assigns etc.,) of the OTHER PART, ND yeu Rew Genne6PonePAGE OF DOCUMENT ae wo.eneypen LLY nocag : (SUEGNEEATEAEI wW smest dard econ serie sucgod aeeel Department of Stamps ond Registration Baie 33, 1957 ¥ éarew8 sivoaCs weokad soo 10.0 wdadDob dbo By, 3p K.NS, RESIDENCY LLP. represented by its Designated Partner Mr. KINSurendra , sit 200.00 doanctoriday DRA’ Aoryos AxYSHA mraisecbsyy stoxeandd ged aad Go) wad seasob aad | arich deat 200.00 | Paid in Cash : wy, 200.00 We Uasoeekgparid aod ; 14/03/2018 he mst Roe =D (oneaorhypard ) wos BP Sane earconicspens) ame | hereby cerrity That on production of the original document. | have satistied myself that the stamp duty of R:.1218647/- has been paid thereon, Vide General Power Of Attomey Deed Reg.No.280/2017-18, of Book{V, Dated: 14/03/2018, stored in CD No.RRND-197 ate coal ORSAY (ToEazeHpENEety < ZX WHEREAS, the First Party is the absolute owner in ph ENA 279 the Converted land bearing Sy.No.5/42 (Old Sy.No.5/18), measuring 03 Acres 03 Guntas, situated at B.M. Kaval Village, Kengeri Hobli, Bengeluru South Taluk, Bengaluru, which gre more fully described in the Schedule hereunder and hereinafter referred to as “SCHEDULE PROPERTY", having acquired the same through Registered Sale Deed executed on 09.11.2010, registered on 27.01.2011 as document No.RRN-1-03397/2010- 11, stored at C.D.No.RRND43 of Book-I, “::tore the Sub-Registrar, Jayenagar (Rajarajeshwarinagar|, Bengaluru, executed by Sri. Sri. Sri. Madhusudhanandapuri Swami{ji, Omkar Ashram, Srinivasapura Village, Omker Hills, Kengeri Hobli, Bengaluru South Taluk, And his une has been mutated in the revenue records such as mutation register & RTC vide MR. No.144/2010-11, Thus ever since from the date of acquisition the First Party is in peaceful possession and better enjoyment of the Schedule Property by exercising all the rights of ownership without any let or hindrance from any quarter whatsoever. The Schedule “A” Property is Converted for non-agricultural residential purpose vide Conversion Order dated 10.01.2018, bearing No. ALN(KH-3)SR:18/2017-18, issued by ‘Deputy Commissioner, Bengaluru District, Bengaluru. WHEREAS, First Party is the absolute owner in r...2ect of the Schedule Property having @ficar and marketable title to the Schechile Property and Schedule Property is free from all kinds of encumbrances, litigation etc. Sy WHEREAS, the First Party/Owner is desirous of developing the Schedule Property into a residential layout and carve out residential sites/plots in the Schedule Property and intends to sell the same. WHEREAS, the First party is not having the necessary expertise and resources to develop the same and to form a residential layout and form residential sites/plots and marketing the same and hence have offered the Second Party/Developer to do the same for the consideration of sharing the undivided share of the land. WHEREAS, the Second Party/Developer is a Private Limited Company and has necessary experience and resources to develop the Schedule Property into residential layout and hence has accepted the offer of the First Party/Owner and has accepted to form residential layout and residential sites/plots in it in the Schedule property owned absolutely by the First Party for the said consideration and on the terms and conditions hereinafter mentioned. gs exer on. Qa~ «PAGE OF DOCUMENT noanoqyprn..CLUY_.n0t748 Print Date & Time :.14-03°2016 02:07:21 PM Uv pateeo ond: 0404 concndepartd dgchs maktoncdmesd gchar Sa HlebchY Omak 14-08-2018 ‘Goud 10:57:23 AM rottrt ch fet aston sbeyfoodtt © Fred, a a v Saco ey, 40922000, 2 [am ada, "52500 a 7 | ¢76as.00 a 25 KAS, RESIDENCY LP, represented by is Designated Patines Mr KN'Surencta add03 aed dds aad | age bdd Es eKINS. RESIDENCY LIP represented by lis Dedgrated Portner Mr. K.N.Surendta: axicbetgenn (abd) oove /eerids Be oe. negbaad e s wo Es TNS RSDENCY | UP represented by 5 Designated Partner Mr 1 K.Nsurendra Gexdeboorisc) 34. N. Rojanne S/o. Nanjappa. (odedtedssh)a Document Sheet cries wed NOW THIS JOINT 1, PERMISSION TO DEVELOP & CONSTRUC%: ‘The First Party/Owner hereby agree and permit and authorize the Second Party/Developer to apply and obtain Plan approval from the competent Authority and develop the Schedule Property and form residential layout in the Schedule Property owned absolutely by the First Party and agree to transfer the 48% undivided right, title and interest in the Schedule Property and 48% of saleable residential plots/sites area in the Schedule Property in favour of the Second Party. However, such 48% of the saleable sital wea in the layour formed in the Schedule Property shall be the chare of the Second Party/Developer end such Layout shall be formed after obtaining plan sanction from BMICAPA which is the planning Authority. 2. CONSIDERATION: The consideration payable by the Second Party/Developer to the First Party/Owner is as follows: = In consideration of the First Party permitting and authorizing the Second Party to form residential layout and form residential sites/plots and market the same and agreeing to transfer the undivided 48% share in the Schedule Property and permitting the Second Party to form residential plots/sites and sell the 48% of the Residential Plots/sites including comer Sites along with undivided right, title and interest along with 48% undivided right, title and interest in the land in the Schedule Property, the ‘Second Party has agreed to develop and deliver the residential sites/plots, calculated at 52% of the seleable sital area in the said layout formed by the Second Party. The said 52% of the Saleable site area is morefully described hereunder and hereinafter referred to as the “SCHEDULE ‘A’ PROPERTY". Whereas it ie mutually agreed upon that saleable sital area means the such sites/p'ts released by the Planning Authority after relinquishing the cormon areas, roads, «ivic amenities sites, areas meant for ‘common use and utilization in favour of the Planning Authority as required under law, ‘The residential layot shall be formed as per Specifications mentioned in this ‘agreement, which shall be part and parcel of this Agreement. The First Party/Owner has accepted the offer of the Second party for the said consideration of the Schedule ‘A’ Property, in respect of the Schedule Property and for permitting it to form residential sites/piots and to sell them. The remaining 48% residential sites/plots formed in the Schedule Property with 48% undivided right, title and interest in the Schedule Property shalll be totally vested and transferred in favour of the Second Party which is snuicfully deseribed hereunder and heremafter referred to as the ‘SCHEDULE ‘B! PROPERTY”. The Second Party/Developer is at liberty to choose/sclect its share in one lot where they desires or willing to posses at the time of sharing of sites, ps Puprwe Ra. ek .rodsabsisicy ® | ea Payen Kuniar HN. 1 | No.1125/12.1st Floor, Sen/ice Road, Hemp’ Nagar, Vijayanagar 2nd Stoge, Bongatru-550104 Uren BV 2. | No.1126/'2, 1st Floor, Service Road: Womp! Negar, Vijayenager 2nd Sroge. Bongdiury 560104 hk ©, caaPseos cssoned andDeveoped BY SDRC ACT. oa ea gto onaAd (nemRUdesPSTIC) Bordadmete ae Document Sheet ») It is mutuelly egreed between the Parties hereto iQ: ANOBIBRHe Refundable security deposit of Rs.61,50,000/- (Rupees Sixty One Lakhs Fifty Thousand Only) to the First Party, which is paid in the following manner: 1, Rs.20,00,000/- (Rupecs Twenty Lakhs Only) by way of Cheque bearing No.000054, dated:15.03.2018, drawn on HDFC Bank, Vijayanagar Branch, Bengaluru. ii, Rs.20,00,000/- (Rupees Twenty Lakhe Only) by way of Cheque bearing No.000055, dated.15.03.2018, drawn on HDFC Bank, Vijayanagar Branch, Bengaluru iil, Rs.21,50,000/- (Rupees Twenty One Lakhs Fifty Thousand Only) by way of Cheque bearing No.000056, “dated:15.03.2018, drawn on HDFC Bank, Vijayanagar Branch, Bengalura. 3. COST OF FORMATION OF LAYOUT: It is mutually agreed and understood that the Second Party shall bear the cost of formation of leyout, construction of required common amenities including roads, Drainage, Garden and other required common area structures. The Second Party shall bear all the expeases towards development and formation of layout including the Schedule “A” Property falling to the share of the First Party. The First Party shall not incur any expenses towards the land development and formation of layout regardless of any escalation in prices of the materials/labour under any circumstances. The expenses incurred towards Plan sanetion shall be borne by the Second Party. B\, The Second Party/Developer shall be entitled to the remaining 48% of the saleable site QF area along with undivided 48% share in the Schedule Property, the Schedule “BY Property. The Second Party shall be entitled to hold, sell, lease or otherwise dispose of its iif entire share of 48% saleable sital area with 48% undivided share in the Schedule Sg Property, in any manner they deem fit and they shall be entitled to all the income, gain, (Sf capital appreciation and benefits of all the kinds of description accruing or arising there. mn ys Rede Rv Qe eeThe applicable Tax on the share of the respective al PNAURBY-rmmernunresymal2Ql7-16 respective Party. However, capital gains attracted on sale of the respective shares of the Party herein shall be payable according to the share of the respective Party that is 48% ‘shall be paid by the Second Party and 52% shall be paid by the First Party. ‘The Second Party/Developer shall have fall discr’:..n in formulating plans including the Size of the sites, number of sites, landscaping, exteriors, amenities ete, and the like, 4. DELIVERY: a] The Second Party hercby agices tw deliver the possession of the sites coming to the share of the First Party within a stipulated period of Twelve Months from the date of Sanction of Layout Plan and issue of License and the Commencement Certificate and Work Order issued by the Competent Planning Authorities. The Second Party shall deliver the sites coming to the share of the First Party proportionately as and when the Planning authority releases the sites, However, the Second Party shall be entitled to corresponding extension of the time incase of unforeseen act of God, or due to Injunction or Prohibition not attributable to the Second Party or holding up of the registration due to any change of Law and non-availability of labour, building materials etc., a ») If the Second Party fails to complete the work and hand over the sites coming to the share of the First Party within the said Twelve months, there shall be a grace period of 06 (Six| months for completing the same. Within the said period the Second Party shall gomplete the project and hand over the possession of the Schedule ‘A’ Property to the First Party. 5. INDEMNITY: 9) The First Party assure the Second Party that he is the sole and absolute owner of the Schedule Property and assure the Second Party that the Schedule Property is good, marketable, and free from all kinds of encumbrances, litigation, attachment and indemnify the Second Party against any loss o1 camage in case of any legal lacunae / litigation, want of title, attachment and acquisition proceedings or charges of any kind and further undertakes to rectify the same at his cost. i(ejow~ Rn Gk6. SALE OF SECOND PARTY'S SHARE: Nn aug ynen dad amd 2017-18, a) The Second Party shall be entitled to execute agreements or sale deeds in favour of the prospective purchaser/s in respect of the share of the Second Party to the extent of 48% of the saleable sitel area and share. The First Party undertakes to execute an irrevocable General Power of Attorney in favour of the Second Party empowering the Second Party/Developer to execute Sale Agreement, Sale Deeds, Mortgage Deed etc., in respect of the share of the Second Party. b) The necessary stamp dury, registration fee, preparation fees for execution of the sald deeds agreements in respect of said 48% share of the Sccond Party and 52% share of the First Party shall be bome by the said Purchasers or their nominees of the respective Party. 7. TAXES, MAINTENANCE DEPOSITS ETC. : ‘The First Party and the Second Party shall from the date of delivery of possession of the Schedule ‘A’ Property maintain their respective portions at their own cost. The Party hereto shall not do ot suffer to be done anything in or to the said property, and/or the common areas, roads and passages which may be against the law of which cause obstruction or interference to the users of the said common areas. The First Party or his nominees and the Second Party or its nominees shall observe and perform the terms / conditions / byelaw / regulation of the Association / Organization that may be formed in respect of the Sites formed in the Schedule Property in respect of the common areas. 8. OBLIGATION OF THE FIRST PARTY: a) The First Party shall cxecute irrevocable register 2d GPA in favour of the Second Party or its nominees to enable the Second Party to obtain licenses, sanctioned plan, represent before the BMICAPA, BDA, KPTCL, BWSSB, BBMP, Village Panchayath, Government and other Governmental/Quasi-Governmental authorities, and to enter into agreement of sale and convey / alienate the 48% undivided right, title and interest in the Schedule Property and the saleable sital area and to mortgage the Schedule Property in the manner permitted under law and to execute Release / Relinquishment Deeds in favour of the Planning Authority (BMICAPA) in respect of civic amenity sites and roads, Park etc., as required by them relating to the Schedule Property. AiQujann Res Qoby The ust Party shall sign and excute sezesary AQANGUR RS eY, oft necessary for vesting legally the 48% share in the Schedule Property in the Second Party and for completing the development of the Schedule Property and formation Layout and sale of the share of the Second Party. The First Party shall not be further responsible for any processing of documents or approaching the authorities or forums. All such connected problems are to be solved or sorted out by the Second Party at its cost. ©) The First Party hereby grant permission to th~ Second Party to commence work of formation of layout by obtaining necessary plan and licenses at the cost of the Second Party. 4) The First Party has no objection for releasing and relinquishing all roads, common area, civic amenitics sites and other common facilities area in favour of the Planning Authority as required under law and the First Party hereby undertakes to execute GPA in favour of the Second Party to execute such Release /Relinquishment deeds in favour of Planning Authority in respect of the Schedule Property. 9. DOCUMENTS OF TITLE: ‘The First Party shall hand over all documents pertaining to the Schedule Property to the Second Party in Original. 10. BREACH AND CONSEQUENCES: Except as otherwise specifically provided in this agreement, the following provisions shall apply for resolving of any dispute or difference arising between the parties out of or relating to this agreement. Either of the parties may serve a notice on the other stating the nature of the dispute or difference between them. ‘The parties hereby agree that they will use all reasonable good faith efforts to resolve such dispute through negotiation. Any dispute or difference, which is not settled by - _: parties through negotiations, within a period of 30 days from the service of the notice of such dispute or difference, shell be finally settled by arbitration in accordance with the provisions of the Arbitration & Conciliation Act, 199 as may be amended trom time to time and either of the parties may refer such dispute to arbitration. The arbitration shall consist of a sole arbitrator appointed by the Second party. rp Cj ; Pea. Q—Smet me Document Sheet Sars, : PACE OF DOC ier ‘The Venue of arbitration shal be in Bengaluru. wo.aneyyRRN LLL. ayy ‘The decision of the arbitrator shall be final and binding on the Parties. a ‘The Parties acknowledge that this Joint Developr=nt Agreement shall form the complete agreement entered into between them and sup2rcedes any prior agreements and representations whether written or oral. 11, MISCELLANEOUS: a. ‘After sanction of the Plan and issue of Work Order, the parties hereto shall enter into @ separate agreement, to be called the “Deed of Sharing of Sites” which would outline and delineate the specific Layout falling under the Owner's Area and the Developer's Area. Such Agreement to be entered into between the Parties hereto shall form a part and parcel of this agreement. b. The First Party/Owner has no objection for the Second Pasty/Developer to bring any additional land adjacent to the Schedule Property for common and comprehensive development provided the saleable sital area allotted to the owner shall not be less than 52% saleable sital area to which he is ens. under this agreement, c. According to zonal Regulations and Town planning rules of BMICAPA, The expected salable area is 55 %, in case of the achieved salable area is less than 55%, the same shall be compensated / adjusted by the first party's share and second party’s share would be remain as 11,500/- sq ft per acre. ‘The Firet Party/Owner in order to facilitate and enable the Second Party/Developer to complete the development work agreed under these presents and also to ensure the performance of the terms and conditions of this indenture has executed a General power of Attorney in favour of the Second Party herein which shall be in consonance and part and parcel ofthis Joint Development Agreement.) Qatar RR a.er>AS cS ae ugar TZ, pace oF Docuyewt ‘SCHEDULE PRE GRTY NO, angen Ll poinss All that piece and parcel of Converted land bearing Sy.No.5/42 (Old Sy.No.5/18), measuring 03 Acres 03 Guntas, situated at B.M. Kaval Village, Kengeri Hobli, Bengaluru South Taluk, Bengaluru (This property has been converted for non agricultural residential purposes vide Conversion Order dated 10.01.2018 bearing No. ALN(KH-3)SR:18/2017-18, issucd by the Deputy Commissioner, Bengaluru District, Bengaluru) and bounded on: East by _—_: Land in Sy.No.5/17 & Road, Westby: Land in 3y.Nos.5/24, 5/44, 5/50 & 5/55, North by _: Land in Sy.Nos.200 & 201, South by: Land in Sy.No.5/18. SCHEDULE ¢A” PPOPERTY (Owner’s Shar} All that piece and parcel of §2% saleable sital area in the layout formed in the Schedule Property along with rights to use common areas and amenities jointly. SCHEDULE “B” PROPERTY (Developer's Share) All that piece and parcel of 48% undivided right, title and interest in the Schedule Property along with rights to form residential sites/plots and sell 48% of saleable sital area formed in the Schedule Property along with rights in common area, amenities. prRruawe a. ete10. Md. 12. 13. SPECIFICATIONS: 10, BNG() Guu mins Leveling of entire layout based on the contour (Block level) with defined level, ial Layout marking based on the approved layout plan. (using Total station) ‘The Layout shall be provided with OHT & Water lines with Borewell as per BWSSB norms with individual connection. ‘The layout shail be provided with sewerage | atment plant as per Pollution Control Board norms with individual connection. Layout shail be provided drain with sufficient width depth and gradient. Construction of Culvert’s wherever required Park Development: All-round chain link fencing with necessary flower plantations. ‘The layout shall be provided with formation of Roads, Rolling and compacting the roads, Box cutting, Mettling end compacting using roller and all the roads shall be provided with asphalting. Site marking as per layout plan ‘The layout shall be provided with Electrification & Underground cable as per BESCOM norms. Installation of cross boards and border stones beside the roads by carving requisite foot path area for floating of public. Laying of curb stones and cobble stones as per required area. Fixation of indication stone or slab to each road by giving site numbers and measurements thereat, 66, DayyRynan Ra Ot 10. BNG| 17-4 uf IN WITNESS WHEREOF, the Party hereto have hereunto put AUR hands, seal Toe ONITAG this Joint Development Agreement in the city of Bengaluru on the day, month and year first above mentioned. : >) ph Page ag 4 ey yd SY 6 (N. RAJANNA) NS yw ged (rer PantY/OWNER) Wes re ane a omen ge whos Oe en Sy — NGS geen (K.N.S. RESIDENCY LLP.) eos® Represented by its Designated Partner, Mr. . Surendra. (SECOND PARTY/DEVELOPER) Cueneeh ) 2S ]12 4% Shears Seansee Rood Eom Pam Qn Qhowe = 104 U.S, 00 & 68, Akshava Comforts, ‘38 “A” Main RG, Devarakere Exterision, ISRO Layout, Bengaluru- 560 078, 1