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Power of Attorney for Development of Property by the Owner

Document Cited in Related
Updated atMarch 2010

TO ALL TO WHOM THESE PRESENTS SHALL COME, I Mr... residing at... send greetings -

WHEREAS

I am the owner of an immoveable property consisting of a plot of land with old building thereon and which is more particularly described in Schedule hereunder written.

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, and that ultimately after the property is fully developed I will transfer the property to a Cooperative Housing Society to be formed by the Purchasers of Flats and other premises therein.

I am unable to attend 10 all the matters necessary to develop and carry on such development work due to my other occupations.

I, therefore, propose to appoint (1) Mr... and {2) Mr... and (3) Mr... who are the partners of the partnership firm of M/s AB & 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...

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