Q1. What is Real estate development?
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Development of Real Estate is different from construction, although many developers also manage the construction process.
Deveopers buy land, finance real estate deals, build or have builders build projects, create, imagine, control, and orchestrate the process of development from the beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate—and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structures, and rent out, manage, and ultimately sell the property.
Sometimes property developers will only undertake part of the process. For example, specific developers source a property and get the plans and permits approved before selling the property with the plans and permits to a builder at a premium price. Alternatively, a developer that is also a builder may purchase a property with the plans and permits in place so that they do not have the risk of failing to obtain planning approval and can start construction on the development immediately.
Q2. What is the standard acceptable ideal format for preparing a development agreement between landlord and promoter for construction of a multi-storeyed building?
Agreement form between Owner and a Builder for Construction of the Building
This Agreement was made at .......on this ....... day of ..........2000, between Shri........................ S/o ............ resident of ......(hereinafter called 'the owner' which expression shall unless repugnant to the context or meaning thereof, be deemed to include his heirs, legal representatives, executors and administrators) of the ONE PART and M/s ABC Builders & Contractors, a partnership firm registered under Partnership Act, 1932 and having its registered office at ...(hereinafter referred to as 'the builders' which expression shall unless repugnant to the context or meaning thereof, be deemed to include every partner for the time being of the said firm, the survivor or survivors or the legal representatives, executors or administrators of the last survivor of the Other Part.
Whereas the first party is the owner of the plot of land admeasuring ......sq. meters bearing plot No. ........... city survey No....................... Khasra No. .....situate, lying and being at ...................... Tehsil and District ............. (hereinafter referred to as the "said plot of land") and is desirous of getting a house constructed on the said plot of land. and Whereas the first party has appointed Shri ........ as the architect and the said architect has prepared the plans, drawings and elevations of the said intended house and the specification of the works to be done and of the materials.
and where as the 2nd party is a big contractor and is having huge experience in construction of big buildings and has agreed to construct the house on the said plot of land.
Q3. Consultant who can get approval for real estate development?
Professional real estate development consultants work directly with organizations and companies to develop real estate projects. The primary role of the development consultant is to manage the entire real estate development process - from initial concept to the start of operations for the finished project. While other members of the real estate development team perform specific tasks at different stages during the course of development, the development consultant oversees the entire process and is engaged throughout all stages
Q4. What is the benefit if I get a real estate developer license?
Below are given benefits of a real estate license investors:
- You can earn extra income.
- You'll gain access to more deals.
- Your contact network will expand.
- Your business knowledge will increase.
- You can earn commissions.
Q5. Do you need permission of the landowner to install rooftop PV by the building developer?
The installation of rooftop solar PV systems raises issues related to building, fire, and electrical codes. Because rooftop solar is a relatively new technology and often added to a building after it is constructed, some code provisions may need to be modified to ensure that solar PV systems can be accommodated while achieving the goals of the codes.
Some primary code issues that impact rooftop PV installations include:
- Restrictive or ambiguous language written into the codes;
- Lag time between the release of updated model codes and new PV industry best practices
- Widespread adoption of the codes and best practices;
- Variation across jurisdictions in which code editions and amendments are adopted; and
- Inconsistent, inefficient, or not proper enforcement of codes.