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Joint Development means an income-producing activity with a transit nexus related to a real property asset. Joint Development projects are commercial, residential, industrial, or mixed-use developments that are induced by, or enhance the effectiveness of, transit projects.
Land development is a multifaceted process that comprises the assessment, preparation, engineering, and construction of developments on a piece of land based on codes and regulations set by the municipality and regulatory agencies.
A JDA is a legal contract that allows land owners and developers to come together, for the purpose of developing land. At present, JDA is a common form of property development in India across sectors.
A development agreement is a legally binding contract between a property owner or developer and a local government, often including terms not otherwise required through existing regulations.
As per article 5 (g-a) and article 25 (b) to ScheduleI of the Bombay Stamp(BS) Act, 1958, stamp duty on development agreement and conveyance is leviable at the rate of one and 10 per cent respectively on the market value or consideration set-forth in the instrument, whichever is higher.