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Question ID : 44597

JDA where land owner is the builder

Dear all, We know that transfer does not take place u/s 2(47) r/w section 53A of TP Act,if the JDA is not registered. What will happen if, there are two persons holding a plot of land jointly and want to construct residential complex.Then how the JDA will be drafted and registered ?? Please throw some light on it.

Posted by SUDIP KUMAR MUKHOPADHYAY on Jan 19, 2024

Filed Under DIRECT TAXES

Answer ID : 85288

A JDA is an official contract between the landowner and builder describing in detail how the construction will take place. The Joint Development Agreement between the landowner and builder defines the ownership rights of the property and the guidelines for the construction of the property. The landowner provides their land to the builder for development under a fixed contract. The builder then carries out the construction based on the guidelines of the JDA

Posted by Hari Beldona on Feb 02, 2024