MEMORANDUM OF UNDERSTANDING (MOU)

This MOU is made and executed on this the ___day of January, 2017 at Hyderabad, by and
between:
M/S. LANSUM PROPERTIES LLP, a Limited Liability Partnership having its office at
Lansum House, Plot # 283, Road # 78, Jubilee Hills, Hyderabad-500033, represented by its
Designated Partner, Sri K. Umesh,s/o. Sri. Late K. N. Rao, aged about 61 years, resident of
Plot # 19, H.S. Dargah, Palm County, Hyderabad – 500 008 (Hereinafter called the “FIRST
PARTY”, which term shall mean and include all their heirs, executors, successors,
administrators, legal representatives and assigns etc).

AND

SRI _______ S/o. _______, Aged about ____ years, Occ: ___________, R/o. _________
(Aadhar: _________ ) (PAN: _______________) (Hereinafter called the “SECOND
PARTY,” which term shall mean and include all their heirs, executors, successors,
administrators, legal representatives and assignees).

WHEREAS,
A. The First Party is in the business of land development and construction of Residential
Apartments, Villas, Commercial Buildings etc., by purchasing land or entering into
joint development agreement with the land owners.
B. The First Party is planning to develop a Farm Villa project namely “___________,”
hereinafter referred to as the “Proposed Project “or “Project” in Survey Nos. 342/1 and
343 situated at Narsingi Village, Gandipet Mandal (erstwhile Rajendra Nagar Mandal),
Ranga Reddy District.
C. And thus, the First Party is in the process of finalizing the drawings, obtaining
permissions from the DTCP for the Project.
D. And thus, First Party, as Developer of project, is raising funds through borrowing from
friends and family.
E. The First Party and the Second Party have Association for a long time.
F. First Party approached the Second Party, to borrow money for the Proposed Project
towards working capital as loan. Whereas the Second Party agreed to lend the same on
the following terms:

NOW THIS MOU WITNESSESTH AS FOLLOWS:

1. Whereas the Second Party agreed to lend an amount of Rs. __________/-
(Rupees_________________Only) as follows:

Date Payment Particulars Rs.

Total

The First Party does hereby acknowledge the receipt of the said sum.

2. Whereas the Second Party reserves the right to recall the entire loan amount along with
18% interest p.a compounded Half-yearly, by giving a written notice at any time during
the process of developing the Project and the First Party agrees to repay the entire
amount with interest after deducting TDS, within 30 days from the date of notice.
3. Whereas the Second Party also reserves the right to convert the entire loan amount into
plotted area of the “Project” at the rate of Rs. 600/- per square Yard, after getting all
the DTCP approvals & getting registered under RERA.
4. Pursuant to the above the Second Party desire to convert the entire loan amount into
built-up space, Developer hereby agreed to register ______sft of built up space,
proportionate undivided share of land and proportionate share of car parking from the
schedule property in favour of the Second Party or his nominees and the Third Party
agree to pay GST, Corpus fund and other charges applicable to the other buyers at the
prevailing rate.
5. Whereas the First Party hereby declares and covenant with the Third Party that the
schedule property will be free from all encumbrances, charges, gifts, mortgages, prior
 sales, liens, litigations and court attachments etc., and the First Party has full power and
absolute authority to sell the same to the Third Party absolutely and forever.
6. Whereas the First Party hereby agrees and undertake that he/it shall indemnify the Third
Party from and against all the losses, costs, expenses, damages, if any, sustained/caused
to the Third Party on account of any defect in title of the First Party in the property
and/or if the First Party is deprived of the title, possession, enjoyment etc., from the
part of the Schedule Property due to any claims made by third parties, the First Party
shall compensate the Third Party against the same.
7. Whereas the First Party hereby agrees to pay all taxes, charges, assessments, cess etc.,
to the concerned departments and that if any claim arises in respect thereof for the
period pertaining till the date of registration, the Third Party shall satisfy the same.
8. Whereas the First Party hereby covenant that he would sign, verify and execute such
further documents as required for effectively transferring and mutating the schedule
property in the name of the Third Party in the records of the concerned Government
departments.
9. Whereas the First Party hereby covenant that it will sign, verify and execute such further
documents as required by the bank or any financial institution for securing a housing
loan or any other loan on the property by the Third Party or his nominee.
10. Whereas the First Party hereby agrees to provide copies of all documents, tax receipts,
link documents, Patta Certificate, House tax receipts, permission copies and other
relevant documents at time of Agreement of Sale/ Sale Deed.
11. Whereas the First Party hereby agrees to complete the construction of the building
within 48 months from the time of execution of this agreement and secure occupancy
certificate and give vacant possession of the property to the Third Party or his nominee.
TIME IS THE ESSENCE OF THIS CONTRACT.
12. Whereas the Third Party agrees that a grace period of 6 months be allowed on written
request of First Party for completion from the date mentioned supra.In case the delivery
is delayed beyond that that a rent of Rs. 8/- (Rupees Eight only) per sft shall be payable
to the Third Party.
13. Whereas both First Party and Third Party agree that after the said grace period, Third
Party reserves the right to unilaterally cancel this agreement and claim the entire
payment paid along with interest at the rate of 18% per annum.
14. Whereas the Stamp duty charges, registration fee etc., shall be borne by the Second
Party or their nominee for registering the above said built-up space.
 SCHEDULE A
SCHEDULE OF THE PROPERTY

All that the land admeasuring Acre 4.20 Gunta equivalent to 21,780 Square Yards, covered by
Survey Nos. 342/1 and 343 situated at Narsingi Village, Gandipet Mandal, Ranga Reddy
District and bounded by:

North : 100 Feet Hyderabad-Gandipet Road

South : Land Belonging to Accurate Wind Chimes and Sriven Villas
East : Land Belonging to S. Ravi Kumar and Accurate Wind Chimes
West : Land Belonging to Sri Nair family and Common passage.

IN WITNESS WHEREOF the First Party, Second Party and the Third Party have signed this
MOU with free will and consent on the day, month and year first above mentioned, in the
presence of the following witnesses.

SIGNATURE OF THE FIRST PARTY

For LANSUM Properties LLP

Designated Partner

SIGNATURE OF THE SECOND PARTY

SIGNATURE OF THE THIRD PARTY

WITNESSES
1.

2.