Landowner and developer have agreed for a joint development project with revenue sharing of 45%:55%
Please suggest if the landowner has also to get a separate rera number registration done
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Is rera registration required for land owners in joint development project in Karnataka
Replies (6)
Rera registration will be obtained by a new company formed for Joint Development by the landowner and the developer.
The builder hasn't a created a separate company with the land owner...in such cases what has to be done
Then how is 45% or 55% determined ? Under what accounting . Then it will be AOP.
Rera registration is given to a business entity. Check with RERA office .
Rera registration is given to a business entity. Check with RERA office .
The developer and landowner has signed a mou in 6Lakh stamp paper In sub registrar office
Reply to my above points
6lakh mou and all that is not relevant.
How are you going to prepare BS P&L Audit (if it is) ? In whose name cheque for sale will be received and whose name expenditure bills will be taken. Who will deduct TDS on payment to contractors and whose PAN will be used.
First you both (developer / land owner) sit down , take advice of CA and then proceed further.
6lakh mou and all that is not relevant.
How are you going to prepare BS P&L Audit (if it is) ? In whose name cheque for sale will be received and whose name expenditure bills will be taken. Who will deduct TDS on payment to contractors and whose PAN will be used.
First you both (developer / land owner) sit down , take advice of CA and then proceed further.
RERA Registration is required. Developer can take a RERA registration on his own name. Incase Landowner likes to sell the developed property he also needs to take a RERA Registration or have his name included as co-promoter in the registration taken by Developer
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