RERA Law
Development Agreement
An agreement between a landowner and a developer allowing the developer to construct on the owner's land, typically in exchange for a share of the built units or revenue.
Rather than selling land outright, an owner can enter into a development agreement, allowing a developer to construct and sell units on the land, with the owner receiving an agreed share — in constructed area, revenue, or both — once the project is complete.
Because such arrangements run over a long period and involve significant sums, they are typically negotiated and documented carefully, including safeguards if the developer fails to perform.
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