DEVELOPMENT POWER OF ATTORNEY

Development Power of Attorney (for short “DPA”) is a vital document concurrent with the Development Agreement and is executed and delivered simultaneously with the Development Agreement. A lawyer entrusted with the property documentation in the form of Sale/ Purchase Deed or Development Agreement & Development Power Of Attorney or Transfer of Development Rights or Agreement for Sale, undertakes drafting of Development Power of Attorney subsequent to the issuance Public Notice and drawing up of Search Report and issuance of Certificate of Title opining positively in favour of continuing the deal.
In DPA are incorporated all the powers and authority for the Developers/Builders who are thus appointed by the property-Owner to carry out all the legal obligations of the property-Owner vis-à-vis the property undertaken for development and construction; to carry out the terms of Development Agreement; to make and fulfill all the compliances under the relevant laws and regulations encompassing the property development, relationships between the property-Owner and the Developers/Builders, Unit Purchasers and the Developers/Builders, Government and the Developers/Builders, etc.
The DPA thus covers all the developmental powers and authority right from the commencement of the building project up to its ultimate completion.
The DPA in order to be lawful and valid, needs to be properly stamped under statutory provisions of Stamp Enactments and further the DPA is also required to be registered in accordance with the procedure laid down by the Registration Statute.
Without the foregoing compliance, the DPA remains inoperative and non-cognizant with the several Authorities / Competent Authorities / Governmental Agencies / Building Departments /  Bankers, etc; associated with the property development and construction.

Send Query                                    Send Feedback