Format of Power of Attorney
The power of attorney format for property development should have the following clauses:
To All To Whom These Presents Shall Come, I Mr…………… residing at …………….
Whereas I am the owner of an immovable property consisting of a plot of land with old building thereon and which is more particularly described in Schedule hereunder written.
And Whereas I propose to develop the said property by demolishing the existing building and constructing thereon a new building with flats and other premises therein and intended to be sold on ownership basis, so that ultimately after the property is fully developed I will transfer the property to a Co-operative Housing Society to be formed by the Purchasers of flats and other premises therein.
And Whereas I am unable to attend to all the matters necessary to develop and carry on such development work due to my other occupations.
And Whereas I, therefore, propose to appoint (1) Mr… and (2) Mr… and (3) Mr… who are the partners of the partnership firm of M/s A B & Co. and who have agreed to carry on the work of development on the terms of an agreement entered into by me with the said firm. as my attorneys or agents with full power to develop the said property as hereafter stated on my behalf and in my name and which the said attorneys have agreed to do.
NOW KNOW YOU ALL AND THESE PRESENTS WITNESSES that I Mr… hereby appoint and constitute the said (1) … (2)… and (3) ……. jointly and severally to be my true and ‘lawful attorneys with full authority and power to do and execute all acts, deeds and things mentioned below, for me and on my behalf and in my name viz.
1. To apply to the Competent Authority under the Urban Land (Ceiling & Regulation) Act. 1976 for grant of permission to develop the said property by demolishing the existing structure thereon and constructing a new building in Its place as required by section 22 of the said Act and for that purpose to sign all applications and other papers, to appear before the Competent Authority and to give him all the papers and Information as required and to do all acts and things necessary for the purpose of obtaining permission u/s 22 of the said Act.
2. To appoint an architect and to get the plans of the proposed building sanctioned by the Municipal Corporation of … and other authorities concerned in respect of the new building proposed to be constructed thereon, so as to exhaust the full F.S.I. which is available on the said property under the present development rules, provided the plans, before they are submitted to the Municipal Corporation for approval, are also approved by me.
3. To make necessary applications and sign all papers, to appear before the Municipal Authorities. to pay necessary fees and premium required for getting the plans sanctioned and to do all other acts and things as may be necessary for getting the plans of the proposed building sanctioned by the Municipal and other authorities.
4. To apply for and obtain I.O.D. and Commencement Certificate for construction of the building from the Municipal Authorities and for that purpose to sign applications and other papers, to pay necessary fees and all other acts and things necessary for that purpose and in that behalf.
5. After the N.O.C. u/s 22 is obtained and the municipal plans are ,sanctioned to demolish the existing building or structure/s on the said property and to remove all the other material therefrom, and to sell such building material like steel and cement at the best price available and to pay the sale proceeds to me.
6. To construct a building on the said plot as per the sanctioned plans and according to specifications and other requirements of the Municipal Corporation and for that purpose to employ contractors. architects, structural engineers, surveyors and other professionals as may be required in the construction of the building.
7. To enter into and sign and contract with the contractor or contractors for construction as well as contractors for labour and to sign such agreements.
8. To enter upon the said property as my licensee for the purpose of carrying on the construction work as aforesaid.
9. To apply for and obtain permission for water supply, electricity supply, laying down drainage and for other amenities as are generally required for a building.
10. To obtain occupation and completion certificate from the Municipal Corporation after the building is completed in all respects.
11. To sell the flats and other premises in the said building at the best price available to, the intending purchasers thereof and to enter into agreements in the prescribed form if any under the Ownership Flats Act, or otherwise with such modifications therein as may be necessary.
12. To open an account with any Bank in my name or in the names of the said attorneys and to credit all the sale proceeds in respect of the flats and other premises received by the attorneys in the said account to withdraw from such account such monies as may be required from time to time for meeting the cost of construction.
13. After all the flats and other premises are sold and monies realised and all the expenses are also incurred, to hand over the balance of the said proceeds of the flats and other premises to me.
14. To get a co-operative housing society of the flat purchasers in the said new building registered under the Co-operative Societies Act and for that purpose to get necessary forms, applications signed by all the purchasers of flats and other premises and to file the same with the Registrar of Co-operative Societies and to do all other acts and things necessary for registration of the society and to obtain registration certificate.
15. To engage any advocate or solicitor for the purpose of taking advice and for preparation and execution of different documents required to be executed pursuant to these powers and to pay their fees.
16. To pay all the municipal and other taxes relating to the said property payable until the completion of the building and transfer thereof to the proposed Co-operative Housing Society.
17. To do generally all other acts and things as are necessary or seem to be required to be done for the development of the said property by constructing a building on flat ownership basis in all respects.
18. I agree to ratify all acts and things lawfully done by the said attorneys by exercise of the powers herein contained.
IN WITNESS WHEREOF I, Mr… have put my hand this the … day of… 2000
THE SCHEDULE ABOVE REFERRED TO
Signed and delivered by the withinnamed Mr…
in the presence of …