Collaboration between the Land Owner and the Builder

Collaboration is a deal between the Landowner & the Builder where the Owner appoints a Builder to develop, construct and build a new building on his plot of land by entering into a Collaboration Agreement where the Owner is desirous of getting the property re-developed/re-constructed due to financial constraints and lack of experience in construction, therefore, approaches the Builder to develop the property for and on behalf of the Owner at Builder's cost. as the Builder is engaged in the business of promotion, development and construction of real estate and is well established in this business.

The Builder demolishes the existing structure on the plot of land and develop, construct and/or build a building consisting of Basement, Stilt, Ground Floor, First Floor, Second Floor and Third Floor with terrace, at its own costs and expense, after getting the building plans sanctioned from the authorities concerned and then develops, constructs and complete the Building at its own costs and expenses after procuring the requisite permissions, sanctions and approvals for development construction and completion of the said building on the plot at Builder's cost. The Owner authorises the nominee of the Builder along with General Power of Attorney, to apply for necessary sanctions and permissions, approvals to the authority or authorities concerned and also pursues and co-operates with the Builder in obtaining such or all other permissions, approvals as may be necessary or required for ensuring the due execution of the proposed work of development and construction of the proposed building. .

Firstly ,the Builder offers a proposal to the landowner in regard with construction of a new building on his plot of land and the benefactors associated with the said proposal. If only the owner is willing to go ahead then both the landowner and the builder mutually sit to decide :the respective shares in the New Building which is to be constructed; the difference of consideration amount to the Landowner, if necessary ; specification of the fittings and fixtures to be used in the new constructed building .Finally ,they both enter into the Collaboration Agreement where all the terms and conditions to be adhered in regard to the construction of the building are mentioned.

Next,The Builder appoints an architect to make and design the Building map, thereafter takes the approval/suggestions from the Land Owner for any modifications, if any , and then proceeds to get the map sanctioned from the Concerned Authority after the landowner gives the Power Of Authority to the Builder to get the same done.

After all these formalities , the Builder makes provision for relocating the Landowner to his place of choice or in the settled rent budget. Therafter ,the owner gives the physical vacant possession to the builder to reconstruct the building.The Builder commences the construction after getting the approved sanction plans.The builder constructs the entire project and retains a part of the new building which is constructed(floors) and gives the owner his share of the floor/s of the building as mutually decided at the time of entering into collaboration. The Builder and the Owner is be entitled to sell, transfer, convey and assign their respective portions to any prospective buyer and can receive the sale proceeds in respect thereof, in their respective names, during or after the completion of the construction, without any objection or hindrance by the other.

The Builder obtains Form `B-1', `B-2' and Completion Certificate from M.C.D/N.D.M.C. in respect of the newly constructed building from the concerned authority at its own cost and expenses.

AM Realtors also act dominantly as Collaborators . A collaborator plays the most significant role in the whole process of Collaboration which starts from introducing the concept of Collaboration to the Landowner ,with its advantages ,to introducing a builder who is interested in developing the said building,to arranging a meeting between both to settle terms in the best interests of both ,to deciding the allocation of the Owner's and the Builder's share in the Building, to Negotiating and Settling the consideration amount; the Collaboration Agreement Terms and Conditions , to make the owner and the builder mutually decide the Map of building and Floor Plans, Elevation of building, Specification of Fixture and Fittings,Materials to be used in the building till the completion of building in all respects,and finally till all the legal documents are transferred in the name of the Builder like General power of attorney, Special power of attorney, Affidavits, Will, Possession Letter etc .So,AM Realtors play as middlemen to ensure that no issues arise during the entire Period of construction till the completion of building.

We also expertise in making arrangements to Relocate the Owner to some other premises according to his requirements in order to give the physical vacant possession of his old building to the builder to reconstruct till the completion of the new constructed building is ready with all aspects.

AM Realtors consider every business deal including that of a collaborator as an opportunity to forge and cement stronger bond with our clients. We have won a huge list of satisfied clients who never hesitate to suggest our name to those who are looking for entering into collaboration and also revert to us for future deals for our reliability ,deep rooted sense of professional ethics and due to our strong relations with the Top most Builders of South Delhi.