Contract Between Owner and Contractor for Construction of House/Flat/Bungalow

This AGREEMENT made on this_______ day of __________

Between

_____________ a company registered under the Companies Act, 1956 and having its registered office at _______________________hereinafter referred to as "the Owner" (which expression shall unless repugnant to the context or meaning thereof include its authorised representatives, successors and assigns) of the one part

And

_________________a company registered under the Companies Act, 1956 and having its registered office at _______________________ hereinafter referred to as "the Contractor" (which expression shall unless repugnant to the context or meaning thereof include its authorised representatives, successors and assigns) of the other part.

Whereas

1. The Owner is seized and possessed of plot of land situated at _____________ and as per entry No. __________ in Municipal Registers (more specific description of the property may be given here or may be annexed as a Schedule).

2. The Contractor is engaged in construction activities for a long time and having good experience in construction of Building/ Flat/Bungalow.

3. The Owner is willing to construct a ____ storeyed house/Flat/Bungalow (hereinafter referred to as the said works) on the said plot of land as per sites plan prepared by ____ and approved by __________, the copies thereof are annexed to this agreement.

4. The Contractor has agreed to construct the said works as per the said sites plans on the terms and conditions herein after appearing

Now it is Hereby Agreed and Decided between both the Parties as Follows:

1. Commencement of Work

The Contractor will clear and prepare the said plot of land for construction of said works as per the said sites plans.

2. Payment

The Owner shall reimburse the Contractor all the expenses incurred by him in connection with the completion of the said works on actual basis at regular intervals and shall pay to the Contractor a sum of Rs.______ within ___ months after the Contractor has completed the construction of the said works in accordance with the terms of this agreement and handed over the same to the Owner.

3. Owners right of Inspection

The Contractor will permit the Owner to have access to the said works while the same are under construction and to inspect the same.

4. Variation

If, in the opinion of the Contractor, any variation or deviation from the said sites plan is necessary in order to satisfactory completion of the said works, the Contractor shall do so only...