DEVELOPMENT AGREEMENT

THIS JOINT DEVELOPMENT AGREEMENT IS MADE AND EXECUTED ON THIS THE 16 th

DAY OF JUNE TWO THOUSAND TWENTY FIVE (16.06.2025) AT ANANTAPUR BY AND:

BETWEEN:
1. Jonna Sreenivasulu
S/o J.Ramachandraiah
Aged about 63 years
R/o, Venkatapuram Village, B.K.S Mandala, Anantapur Dist, (A.P.)
Presently Residing at: -----------, ---------, ---------------------- District,
Telangana State.
Mob:
PAN:
Aadhar No.
( Original Owner of the Schedule of property )
Hereinafter together referred to as the “First Party” or “ OWNER
( which expression shall wherever the context so requires or admits,
mean and include their respective heirs, legal representatives,
nominees, executors, successors, administrators and assigns) of the
FIRST PART

1. XXXXXXXX
2. YYYYYYYY
( Developers for the Schedule of property )

Hereinafter together referred to as the “Second Party” Developer

( which expression shall wherever the context so requires or admits,
mean and include their respective heirs, legal representatives,
nominees, executors, successors, administrators and assigns) of the
SECOND PART.

I. WHEREAS have the parties of the first party or absolute owners of the land
bearing Survey Number 294 admeasuring 1 Acre situated at Venkatapuram
village, K.K. Agraharam Polam, B.K.S Mandal, Anantapur District which is
more fully described in the schedule hereunder and hereinafter referred has
to schedule property

II WHEREAS the party of the first party represents that he is absolute owner of
schedule property having acquired the same from his sisters and sister in law
through relinquishment deed vide document No 1187/2003 dated 18-04-2023
registered before the sub registrar, Singanaala, Anantapur Dist. Originally the
schedule of property belongs to Late Sri. Jonna Raachandraiah, who is the father
of the First Party. Late Sri J. Ramachandraiah was died on 5-02-2018 leaving
behind his legal heirs ( family member certificate enclosed herewith ). The
schedule property was acquired from other legal heirs through relinquishment
deed vide doc. 1187/2003 dated 18-04-2023

III. WHEREAS by virtue of the above the owner is in peaceful possession And
enjoyment of the schedule property as absolute owner and other revenue
documents of the schedule property stand in the name of the owner i.e.
First Part.

IV. That the DEVELOPERS i.e, Second Part are interested in developing
Farm House/ Resort in the schedule property and in pursuance thereof
have offered the schedule property for development.

a) That the absolute owner of the schedule property in offer mentioned manner
and that his title to the same is good, marketable, and subsisting and that no
one else has any right, title, or share here in and that he is not entered into
any agreement for sale, transfer or development of the schedule property
with anyone else and nor it is subject matter of a will or a gift Memorandum
of understanding oral or written

b) That there is no impediment to enter into this agreement under any law or
contract nor is the schedule property land is respect of which there is a
statutory prohibition regarding sale / development and conveyance the
schedule property is not subject to any acquisition proceedings or
encumbrances howsoever remote of any kind and nor it is mortgaged or
offered as a Collateral for securing any law or for obtaining any advance
whatsoever from any individual bank or Financial Institutions and it is not
subject to any charge for payment of income tax wealth tax etc

c) That the Original owner is in actual physical possession of the schedule

property

V. That based on the aforesaid Representation made by the DEVELOPERS

herein who are well established Real Estate Developer has Expressed its
interest to develop Farm House / Resort in the schedule property and in
pursuance to thereof has made The following representation :
 a) That they have the necessary experience finance resources capability and
infrastructure to carry out the develop the Farm House / Resort in the
schedule property.

b) That the Developers shall ensure that they shall make best efforts to
complete the development as per plans in this regard and in Compliance with
local laws.

NOW THIS AGREEMENT WITNESSES AS FOLLOW

1. AGREEMENT
That in pursuance of the foregoing and subjected to objections undertaken
to thereof by each party hereto and in consideration of the benefits accruing to
each party as provided here in the DEVELOPER has agreed to develop the
FARM HOUSE in schedule property where on the developer there on the terms
and conditions contained herein below

2. INTERPRETATION
In case of any ambiguity of any clause or term or conditions herein the
same shall be interpreted to convey the true intention of the parties here to
which is to fulfill the objective of the agreement by developing the schedule
property.

3. TITLE
The owner represents that their title to the schedule property as aforesaid
is good, marketable and subsistence and that they are the absolute owner in
right, title and interest of the schedule property, free from all encumbrances

3.1 The OWNE shall at their COSTS and consequences and ensure always that
the Representations made herein above to be subsisting and true and cure
any defect in title ( if any).

3.2 The OWNER shall on signing this agreement deliver the available original title
deed pertaining to the schedule property to the DEVELOPER whenever the
DEVELOPER requires for getting statutory permissions who shall hold
the same in the trust for and on behalf of the owner.
 4. PLAN/LICENSE
4.1 The developer shall prepare the necessary plans, drawing/ Design for the
purpose of implementation of the project and for submission to the statutory
authority and shall submit the same to the concerned authorities for sanction
and license for carrying out such development in the schedule property. The
responsibility and expenses for preparing and obtaining necessary license
and sanction plan shall be borne by the DEVELOPER alone the owner shall
duly sign all such applications and further the OWNER shall execute a power
of attorney authorizing the DEVELOPERS to submit success plan.

5. DEVELOPMENT
In pursuance to the agreement reached and the consideration reserved
hereto and the obligation undertaken herein by each party hereto, OWNER do
hereby irrevocably permit the DEVELOPER to enter the schedule property for
undertaking the development of the same and the OWNER Covenant to the
developer that such permission shall not be revoked until all the objects of
the agreement or fulfilled DEVELOPER shall be incurring expenditure for
construction provided however that, nothing herein contained shall be
construed as delivery of possession that the right of entry into the schedule
property is for permissive your possession and for undertaking development
and carrying out construction work there off.

a. The DEVELOPERS are here to shall develop the schedule property by

implementing the project i.e FARM HOUSE as per sanctioned
plan providing all the facilities, features and specifications as provided
herein, immediately on drawing up the plans as soon as possible.

b. THE DEVELOPERS shall be entitled to develop the schedule property,

however the Developers shall be responsible for COMPLEATION OF
THE DEVELOPMENT OF THE SCHEDULE OF PROPERTY WITH IN
NINE MONTHS AFTER GETTING THE PERMISSIONS FROM THE
CONCERNED AUTHORITIES. THE OWNER IS HEREBY AUTHORISING
THE DEVELOPER TO ENJOY THE DEVELOPER SHARE OF 60%
AFTER DEVELOPMENT OF THE SCHEDULE PROPERTY.
 c. The OWNER shall co-operate with the DEVELOPERS to develop the
schedule property as aforesaid and on terms and conditions appearing
herein below.

6. CONSIDERATION
6.1 In consideration of the OWNER agreeing to transfer by conveying 60% of
the share in right, title or interest of the land in the schedule property in
favour of the DEVELOPERS, the DEVELOPERS at their own cost will develop
and deliver to the owners 40% of developed area of the schedule property.

6.2 In consideration of the OWNER AND DEVELOPERS agreeing that after

development of FARM HOUSE owner share devolves 40% and Developer
share devolves 60% share, whereas this FARM HOUSE SHALL not to sell to
the third parties, if either party wants to sell their share they have to sell to
the parties in between OWNER AND DEVELOPOERS

6.3 In consideration of the OWNER AND DEVELOPRS agreeing that they have
to enjoy fruits / income of the Developed Farm house.

6.4 The OWNER, developed area shall be the absolute property of the OWNER
and he shall be entitled to enjoy the income only in the Farm Houses and not
to sell, mortgage, he will gift the share to his legal heirs but his heirs also to
enjoy the income, but not to sell to the third parties. If wants sell their share
in the schedule property they have to sell the other party i.e, Developers.

6.5 The DEVELOPER, developed area shall be the absolute property of the
DEVELOPERS and they shall be entitled to enjoy the income only in the Farm
Houses and not to sell, mortgage, they will gift the share to their legal heirs
but his heirs also to enjoy the income, but not to sell to the third parties. If
wants sell their share in the schedule property they have to sell the other
party i.e, Owner.

6.5 The DEVELOPERS shall complete the project of the schedule of property
Area within 9 months from the date of entering this Development Agreeent,
subject to the terms and conditions of this agreement. However the
DEVELOPERS shall be entitled to a further grace period of 3 months to
complete the project after the aforesaid stipulated time for completion.
7. The developers, if fails to perform the develop in the schedule
property with in stipulated period as mentioned supra, this development
agreement stands cancelled, developers are agreed the same.
8 That the owner shall sign and execute all applications, papers, documents as
required and to do all acts and deeds and things as the DEVELOPERS may
lawfully require in order to obtain licenses, sanction plan for such
construction and also to legally and effectively vest in the DEVELOPERS or
nominees title to DEVELOPERS developed area in the schedule property and
for completing the development of the schedule property.

8.1 It is further provided that the OWNER shall be entitled to inspect the progress
of development in schedule property without however interfering in the
same.

8.2 The method and manner to implementation of the project shall be as per the
plan of the DEVELOPERS.

9. COST
9.1 The total cost of the implementation of the project with specification is more
than one crore rupees and all developments and improvements to be carried
out as setout herein above and to be put up on the schedule property shall
be born by the DEVELOPERS. Save and except to the extent setout herein
the OWNER shall not be required to pay for the cost of construction or
development or obtaining plans and licenses as set out here in above.

9.2 All statutory deposits / charges to be paid by DEVELOPRS at actual to all

the competent authority.

9.3 That the OWNERS hereby undertake to comply with the statutory and legal
requirements as amended from time to time in all matters relating to their
entitlement under this agreement.

9.4 Tax shall be born by the both parties as per ratio basis

10. AMENDMENT
 Any amendment to this deed should be in writing and signed by both the
parties hereto

26. NOTICE
26.1 Any notice to any party here to shall be in writing and send to their address
as mentioned herein above or the address from which a notice is received
26.2 A notice shall be sent in writing by registered post and be deemed it within 7
days from it being sent proper address

29. PROJECT NAME

29.1 The project Layout to be developed in the schedule property shall be known
by such name as may be decided by the developers and owners.

30. DISPUTE RESOLUTION

30.1 in the event of any dispute arising between the parties hereto with regard to
this agreement or are the interpretation of the terms are of the same shall be
resolved amicably by the parties hereto.

SCHEDULE
All the piece and parcel of the land bearing SY.No.294, measuring 1 Acre, situated
at Venkatapurak Village, K.K.Agraharam polam, Bukkaraya Samudram Mandal,
Anantapur District and bounded as under:
East by : My Property
West by: Property of Gavvala Adinarayana S/o Gavvala Narayana
North by : Property belongs to Subbireddy
South by : Part of my property.
IN WITNESS WHEREOF, the parties above named are executing this JOINT
DEVELOPMENT AGREEMENT in the presence of witnesses attesting hereunder on
the day month and year herein above first mentioned

WITNESSES: -

1. OWNERS

2. DEVELOPERS