PHASE WISE JOURNEY
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Roadmap >> Legal Documentation
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Abbreviations: (Secretary - Sec, Member/s - Mem, Milestone - M, Record - R, Guideposts - GP)
Abbreviations: (Secretary - Sec, Member/s - Mem, Milestone - M, Record - R, Guideposts - GP)
| Sr. No. | Step | By | Particulars | M/ R/ G |
|---|---|---|---|---|
| 1 | Obtain Legal Title Certificate for Plot | Dev | To confirm Soc’s Legal Title and Right to Redevelop. If necessary, also carry out corrections/ mutations and rectifications in the revenue records and property docs and get the Property Registration Card transferred in the name of Soc. | R |
| 2 | Submit 1st Draft of Development Agreement (DA) to MC | Soc LA | Draft should be in conformity with: Tender Docs, Final Commercial Offer of Dev and other terms agreed during the Selection Process. | |
| 3 | Review of Draft DA | MC, PMC | To check a) Representation made on behalf of Soc, b) Consistency with Tender Docs, Final Commercial Offer of Dev and other terms agreed during the Selection Process. Remarks should be sent to Soc LA for incorporation. | |
| 4 | Submit Revised Draft of DA to MC | Soc LA | Draft must be in conformity with: Tender Docs, Final Commercial Offer of Dev and other terms agreed during the Selection Process. | |
| 5 | Send Revised Draft of DA to Dev | MC/ Soc LA | For perusal by Dev through his Legal Advisor. | |
| 6 | Finalization of DA | Soc LA, Dev LA, MC, Dev | Finalization may need Joint Meetings. At the final stage, the draft may again be sent to PMC for his final review and remarks after which the draft shall be finalized. | |
| 7 | Prepare Draft DA Annexures | MC, Soc LA | Annexures should be in conformity with Final Draft of DA. | |
| 8 | Submit Draft of Power of Attorney (PoA) to MC | Soc LA | PoA should be in conformity with Final Draft of DA. | |
| 9 | Submit Draft of Permanent Alternate Accommodation Agreement (PAAA) to MC | Soc LA | PAAA should be in conformity with Final Draft of DA and agreed List of Amenities. | |
| 10 | Send Draft DA Annexures, PoA & PAAA to Dev | MC/ Soc LA | For perusal by Dev through his Legal Advisor. | |
| 11 | Finalization of DA Annexures, PoA & PAAA | Soc LA, Dev LA, MC, Dev | Technical Annexures may be referred to PMC for his review. | |
| 12 | Send Notice to members for SGBM7 | MC | Agenda: Approval of drafts of DA, Annexures, PoA & PAAA. | |
| 13 | SGBM7 - Approval of DA, Annexures, PoA & PAAA | GB | The Final drafts of DA, Annexures, PoA & PAAA shall be approved subject to Members’ suggestions which shall be recorded. Resolutions to be passed: 1. Approval of draft DA and Annexures 2. Approval of draft PoA 3. Approval of draft PAAA | M & R |
| 14 | Send MoM to members | Sec | Within 7 days from SGBM7. | |
| 15 | Send MoM to Dy. Registrar | Sec | Within 15 days from SGBM7. | |
| 16 | Confirm Approval of DA, DA Annexures, PoA & PAAA | MC, Dev | After discussing and incorporating Members’ suggestions from SGBM7. | |
| 17 | Execute and Register DA | MC/ Mem, Dev | This includes Adjudication & payment of Stamp duty by Dev, Registration and Issue of true copies of the registered DA to Soc. | M & R |
| 18 | Discharge immediate Obligations on Execution of DA | Dev | As per points agreed in DA such as Making Payments (to Soc, Members, PMC, LA), Settlement with third parties, Obtaining Conveyance, Paying Security Amounts etc. | |
| 19 | Issue PoA to Dev | MC | ||
| 20 | Track Process of Legal Documentation | MC | Milestones based Tracking wrt Time Schedule mentioned in LOI. | |
| 21 | Upload Progress on Soc Website | MC | Progress of work may be uploaded on Soc’s Website from time to time. |