This Deed of Agreement is made on this 4th day of June, 2025 at Allahabad
BETWEEN:
Mr. Kunal Kan, aged about 35 years, son of Mr. Prakash Kan, resident of Khuldabad, Allahabad, (hereinafter referred to as the “Contractor”) of the First Part;
AND
Mr. K. B. Dal, aged about 40 years, son of Mr. G. K. Dal, resident of Mumfordganj, Allahabad, (hereinafter referred to as the “Owner”) of the Second Part.
WHEREAS:
- The Owner is the sole owner of Plot No. ‘Q’, located at Meerapur, Allahabad, measuring 50×100 feet, the site map of which is attached with this agreement.
- The Owner intends to construct a residential bungalow on the said plot.
- The Contractor has agreed to undertake and complete the said construction work in accordance with the terms herein.
- The plans, designs, drawings, and elevations have been provided to the Contractor and form part of this agreement.
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
- The Contractor shall erect a building strictly in accordance with the approved plans, designs, and elevations.
- The Contractor shall use best quality material and execute the work to the satisfaction of the Owner.
- The Contractor shall strictly comply with all specifications and the true intent of the approved design documents.
- The construction must be completed within 120 days from the date of this agreement.
- Delay in completion shall attract a penalty of ₹100 per day, except in cases of:
- Labor strikes
- Natural calamities
- Circumstances beyond the contractor’s control
- If the Contractor becomes bankrupt, or fails to complete the work in a reasonable manner, the Owner shall issue a 7-day notice. Failing a satisfactory response, the Owner may appoint another contractor, and deduct 25% from the original contractor’s final payment.
- If required by the Owner’s architect, the Contractor shall increase the workforce without objection.
- If any material is rejected by the architect, the same shall be removed immediately by the contractor at his own cost.
- Improperly executed work, as pointed out by the architect, must be demolished and re-done at the contractor’s expense.
- Any alteration, addition, or omission suggested by the Owner or architect during construction shall be executed, and additional costs (if any) borne by the Owner.
- The Contractor shall be liable for all damages or material wastage due to negligence or carelessness by his workers.
- All materials used must be of superior quality, as approved by the Owner and architect.
- No subcontract may be assigned without the written consent of the Owner or architect.
PAYMENT TERMS
The Owner agrees to pay the following amounts to the Contractor:
(a) Towards Labour Charges: ₹1,75,000.00
(b) Towards Material: ₹5,00,000.00
Payment Schedule
Labour Charges:
- ₹75,000.00 – At the time of signing the agreement
- ₹30,000.00 – After 30 days of commencement
- ₹30,000.00 – After next 30 days
- ₹40,000.00 – Upon completion of the work
Material Costs:
- ₹2,00,000.00 – At the time of signing the agreement
- ₹2,00,000.00 – After 30 days of commencement
- ₹1,00,000.00 – After 30 more days
FINAL DECLARATION
Both parties hereby agree to the terms stated above. This deed shall be binding on their legal heirs, successors, and assigns. Signed and executed at Allahabad on the date first written above.
Signature: _______________________
(Mr. K. B. Dal, Owner)
Signature: _______________________
(Mr. Kunal Kan, Contractor)
WITNESSES:
- Mr. RAJIV MEHTA, resident of 789, Lakeview Road, Aligarh
- Ms. ANITA SRIVASTAVA, resident of 321, Lotus Enclave, Kurnool