LAND DEVELOPMENT AGREEMENT

This Development Agreement is made and executed on this the 05th day of October 2023.

BETWEEN

Mr. Karthick R S/o Ravi, (LAND DEVELOPER) , Residing at D.NO: 21, Thangavel nagar, Kampainallur,
Kariamangalam TK , Dharmapuri Dt- 635202.

AND

Mr. Thulasi Ram S/o Govindaraj, D.No: 3/383, sappadi, Sampalli, Krishnagiri -635117. Hereafter called as
“PURCHASER” which expression shall mean and include his heirs, administrators, successors, executors,
assigns, etc.

PURCHASER LAND DEVELOPER

Whereas the said DEVELOPER has enormous and rich experience in developing the lands by providing
the Amenities in the Approved Layout.

Whereas the PURCHASER herein has approached the DEVELOPER to develop the said land measuring of
an extent of 1760 sq ft . S. F No. 270 / 2, New S. F. No. 270 / 2A1A1A, Plot No. 507, Jasmine Valley,
Bagalur Main Road, Bagalur Village and Panchayat, Hosur Tk, Krishnagiri Dt 635103. in the layout known
as “approved under, hereafter called the “SCHEDULE PROPERTY” and more fully described in the same
free from all Encumbrances, without any let or hindrances on the following terms and conditions
hereunder written.

NOW THIS DEVELOPMENT AGREEMENT WITNESSETH AS FOLLOWS:

1. In pursuance of the above said offer made by the “PURCHASER” and thereby agreeing the same by
the “DEVELOPER” for the development of the schedule property hereunder for total value of
Rs. 13,00,000/- (Rupees Thirteen Lacs only ).
2. The period of this development agreement shall be 24 months from the time of signing this
agreement.
3. The DEVELOPER has taken the symbolic possession of the schedule property from the PURCHASER
and entrusted the work and the right to develop the scheduled property.
4. The DEVELOPER agrees, accepts and undertakes to PURCHASER that all required time allow the
PURCHASER or his representatives to have periodical inspection of the scheduled property at all
reasonable times on oral intimation to DEVELOPER.
5. The DEVELOPER agrees same and accept to undertake to the development work as per the
description of work given hereunder to the PURCHASER.
6. The PURCHASER herein undertakes to pay the development charges directly to the developer.
7. The DEVELOPER further agrees and undertakes that he shall not demand more apart from the
agreed amount for the development from the PURCHASER.
8. Both the parties DEVELOPER AND PURCHASER have agreed to abide by the terms and conditions
and act upon by this development Agreement.
9. The DEVELOPER herein agrees to execute the work and complete the development activities in 24
months. If the DEVELOPER falls to complete the development work in due time, for reasons such as
act of God, natural calamities, non-availability of essential inputs and the DEVELOPER is at no fault
and is not liable to pay any damages/compensation for such delay in completion.
10. This development agreement is agreed and entered with free will and without any coercion
whatsoever.
11. All differences and disputes in relation to these or development of the land shall be referred to the
arbitrators appointed one each by both the parties and whose decision shall be final and binding on
the parties. The said arbitration will be in accordance with the Arbitration Act and the jurisdiction
will be Chennai only. During the tendency of these disputes and differences and proceedings before
the arbitrator the execution / or Implementation of these presents should not be suspended but
each party shall discharge its obligation in terms hereof.
 SCHEDULE OF PROPERTY

All that piece and parcel of vacant admeasuring of 1760 sq., ft., S. F No. 270 / 2, New S. F. No. 270 /
2A1A1A, Plot No. 507, Jasmine Valley, Bagalur Main Road, Bagalur Village and Panchayat, Hosur Tk,
Krishnagiri Dt 635103. forming part of approved Layout bearing referred above and known as situated
at bounded on Item Boundaries for extent of 1760 Sq. ft. of land:

South of : Private Property 40'0"

East of : Plot No. 482 44'6"

North of : Plot No. 506 40'0"

West of : 30’ Wide Road43’6"

PURCHASER. LAND DEVELOPER.

WITNESSES: -