Realtybills Empowering Your Business with Comprehensive Term Sheets and Property Area Statements

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements​

Content for Term Sheet:

  1. Introduction to Term Sheets

    • Definition and purpose of term sheets in business transactions.
    • Key components and structure of a typical term sheet.
    • Why term sheets are crucial in negotiations and deal-making.
    • Different types of term sheets for various business contexts.

  2. Importance of Term Sheets

    • Reducing ambiguity and setting clear expectations between parties.
    • Safeguarding your interests and protecting against misunderstandings.
    • Speeding up the due diligence process and deal execution.
    • Building trust and credibility with potential partners or investors.
    • Avoiding legal complexities and potential disputes.

  3. Elements of a Comprehensive Term Sheet

    • Price and payment terms.
    • Description of the transaction and assets involved.
    • Conditions precedent and subsequent.
    • Representations and warranties.
    • Indemnification and limitations of liabilities.
    • Governing law and dispute resolution.

  4. Tips for Negotiating Term Sheets

    • Identifying and prioritizing your business objectives.
    • Understanding the other party’s motivations and concerns.
    • Seeking professional legal advice for a fair and balanced agreement.
    • Being flexible while safeguarding critical interests.
    • Knowing when to walk away from unfavorable terms.

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements

TERM SHEET

1

NAME

 

 

2

FLOOR

NOMENCLATURE

SUPPER BUILTUP ( SQ FT )

AREA ARE SUBJECT TO CHANGE AS PER

 

3

AMOUNT ( L )

 

 

4

PAYMENT SCHEDULE

STAGE

% TO BE RELEASED

 

 

 

 

BOOKING PLUS BASEMENT

36 %

 

PLINTH SLAB COMPLETION

20 %

 

3RD FLOOR SLAB COMPLETION

6 %

 

6TH FLOOR SLAB COMPLETION

6 %

 

9TH FLOOR SLAB COMPLETION

6 %

 

12TH FLOOR SLAB COMPLETION

6 %

 

15TH FLOOR SLAB COMPLETION

6 %

 

ON COMPLETION OF MASONARY AND PLASTER OF INDIVIDUAL BLOCK

11 %

 

FINISHING , HANDOVER

2 %

 

SALE DEED

1 %

 

TOTAL

100 %

 

    

 

5

GST 5 % OR AS APPLICABLE ON DATE OF PAYMENT AND TO BE PAID ALONG WITH AGREMEENT

 

6

ELECTRICITY CONNECTION CHARGES ( RS )

 

7

REGISTRATION & STAMP DUTY CHARGES TO BE BORNE BY PURCHASER

 

8

MAINTENANCE DEPOSIT FOR 15 YEARSIN FORM OF F.D. IN THE NAME OF  ASSOCIATION / SOCIETY ( TO BE GIVEN BEFORE SALE DEED )

AMOUNT NOT DECIDED

 

9

CAR PARKING

TOTAL NUMBER

 

AREA  / DIMENSION

1

 

10

TWO WHELLER PARKING

TOTAL NUMBER = 2

 

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements

Content for Property Area Statement:

  1. Introduction to Property Area Statements

    • Definition and purpose of property area statements in real estate.
    • Role of property area statements in development and urban planning.
    • How property area statements differ from traditional land surveys.

  2. Significance of Property Area Statements

    • Providing an accurate representation of property boundaries and measurements.
    • Facilitating property development, construction, and renovation projects.
    • Complying with local zoning regulations and building codes.
    • Resolving property disputes and boundary disagreements.

  3. Components of a Comprehensive Property Area Statement

    • Legal description of the property.
    • Boundary measurements and markers.
    • Encroachments and easements, if applicable.
    • Relevant geographic and environmental factors.
    • Supporting maps and documentation.

  4. The Process of Obtaining a Property Area Statement

    • Engaging a licensed surveyor or professional service.
    • Conducting the field survey and data collection.
    • Analyzing the gathered information and preparing the statement.
    • Reviewing and validating the accuracy of the statement.

  5. Common Challenges and How to Address Them

    • Dealing with property boundary disputes.
    • Navigating complex legal requirements and zoning regulations.
    • Addressing discrepancies between existing records and the statement.

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements

AREA STATEMENT

 

PLOT AREA = —-SQ MTRS

PERMISSIBLE FSI =  

ADDITIONAL FSI OF PREMIUM =  0.0

PERMISSIBLE TDR = 0.0

TOTAL FSI PERMISSIBLE =

ANCIALLARY =

NET AREA = —- SQ MTRS.

 

TABLE

  1. NO.
  2. FLAT NO.
  3. RERA CARPET AREA ( SQ. MTRS )
  4. BUILT U P AREA ( SQ. MTRS )
  5. BALCONY AREA

I ) PLANTER ( SQ. MTRS )

  1. II) OPEN ( SQ. MTRS )

III) COVERED ( SQ. MTRS )

  1. TOTAL COMMON AREA
  2. LIFT, STAIRCASE, LOBBY AREA ( SQ. MTRS )
  3. PARKING AREA ( SQ. MTRS )
  4. FREE OF FSI ( MID LANDING ) ( SQ. MTRS )
  5. REFUGE AREA ( SQ. MTRS )
  6. FIRE STAIRCASE ( SQ. MTRS )
  7. SUPER BUILT U P ( SQ. MTRS )
  8. SUPER BUILT UP ( SQ. FT. )
  9. ACTUAL TILLED CARPET AREA INCLUDING BALCONY
  10. ( SQ. MTRS )
  11. ( SQ. FT )
  12. USABLE AREA

 

 

 

 

 

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements

Frequently Asked Questions (FAQs) – Term Sheets and Property Area Statements

Term Sheets:

  1. What is a term sheet, and why is it important in business transactions? A term sheet is a preliminary document outlining the key terms and conditions of a business deal or investment. It acts as a blueprint for negotiations and serves as a reference point for drafting the final agreement. Term sheets are crucial as they establish clear expectations, protect parties’ interests, and streamline the negotiation process.

  2. What are the essential elements of a comprehensive term sheet? A comprehensive term sheet typically includes information about the transaction, price and payment terms, conditions precedent and subsequent, representations and warranties, indemnification, limitations of liabilities, and governing law. These elements help parties understand their rights and obligations in the deal.

  3. Can a term sheet be legally binding? In most cases, term sheets are considered non-binding, meaning they are not legally enforceable. However, certain provisions, like confidentiality and exclusivity clauses, may be binding. It’s essential to consult legal professionals to understand the enforceability of specific terms in your jurisdiction.

  4. When should I seek legal advice during the term sheet negotiation process? It is advisable to involve legal counsel from the early stages of the negotiation process. Legal experts can help you understand the implications of the terms, protect your interests, and ensure the final agreement aligns with your business goals.

  5. What happens if parties cannot agree on certain terms in the term sheet? If parties cannot reach a consensus on specific terms, they may need to engage in further negotiations or decide whether to proceed with the deal. It’s essential to communicate openly and be prepared to compromise to find common ground.

Property Area Statements:

  1. What is a property area statement, and how does it differ from a land survey? A property area statement is a document that provides an accurate representation of a property’s boundaries and measurements. It is typically prepared by licensed surveyors or professionals. While land surveys focus solely on boundary measurements, property area statements may include additional information relevant to property development and urban planning.

  2. Why is obtaining a property area statement important for property owners and developers? Property area statements are essential for property development, construction, and renovation projects. They ensure compliance with zoning regulations, help resolve boundary disputes, and provide valuable data for planning and design purposes.

  3. What are some common challenges in obtaining property area statements? Challenges may include discrepancies between existing records and the statement, dealing with boundary disputes, and navigating complex legal requirements and zoning regulations. Engaging a qualified surveyor and seeking legal advice can help address these challenges effectively.

  4. Are property area statements always required for property transactions? The need for a property area statement may vary depending on local regulations and the complexity of the transaction. However, obtaining a property area statement is generally recommended to ensure transparency and clarity in property transactions.

  5. Can property area statements be updated or revised if changes occur on the property? Yes, property area statements can be updated or revised to reflect changes on the property, such as new construction, boundary adjustments, or other modifications. Property owners should engage a licensed surveyor to conduct the necessary updates when needed.

Empowering Your Business with Comprehensive Term Sheets and Property Area Statements
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