Developer agreement

Saurav Chokhani (Self Employed) (31 Points)

20 March 2013  

Dear friends & Colleagues,

 

Please comment on the issue.

One of my client is a developer. He has made agreement with land owner to build an appartment on the said land. All expenses will be incurred my developer. In consideration of expenses incurred, developer will get 60% of the rights in the appartment. Please suggest whether AS7 will be applicable on the developer. Please elaborate in detail.