Hi there,
The land entitlement to the landowner is completely dependent on the type of agreement the landowner and the builder are under. If the landowner has sold his land to the builder in exchange for money, he/she has no entitlement over the land post the sale agreement has been signed. If he/she has sold the land in exchange for one or more flats that the builder is going to build on that land, even then the landowner has no such entitlement over that land post such agreement.
But if the landowner and the builder have decided to work together with such that the land will be provided by the landowner but the expertise to build a commercial property, obtain approvals, and market the property, will be decided by the builder, then they enter into a Joint Development Agreement. Under such an agreement, the landowner gets a certain percentage of sales revenue or a lump sum on the constructed area which is decided by the terms agreed upon between the two parties. Such agreements also ascertain whether or not the landowner will have any entitlement on the land post getting revenue.
I hope now you understand whether or not a landowner is entitled to his/her sold land.
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Is landowners still have entitled after selling land to builder and builder developed flats and sell it
Ravindra chavan
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1
3 Year
2022-03-19T03:13:45+00:00 2022-03-21T11:07:25+00:00Comment
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