Co-developers' authority to execute registration documents for homebuyers under a tribunal-approved master agreement.

Under the Master Agreement dated 08.10.2024 for the Doon Square project, the co-developers were authorised to sign, execute and present for registration the transfer and sale documents for units in favour of prospective purchasers and allottees. That authority was supported by the completion of the project, issuance of the Occupancy Certificate, and the lender's No Dues Certificate, with implementation continuing under the Tribunal-approved agreement. On that basis, the request for joint nomination of an authorised person could be complied with by the co-developers acting under the agreement, enabling execution of registration documents for homebuyers and allottees.

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Issues: Whether the co-developers were entitled to execute the registration documents in favour of the homebuyers and allottees in the Doon Square project under the Master Agreement dated 08.10.2024.

Analysis: The project had already been completed, the Occupancy Certificate had been obtained, the lender had issued a No Dues Certificate, and the project was being implemented in terms of the Master Agreement approved by the Tribunal. Clause 6 of the Master Agreement authorised the co-developers to sign, execute and present for registration the documents required for transfer and sale of units, including deeds and allied instruments in favour of prospective purchasers and allottees. In these circumstances, the communication seeking joint nomination of an authorised person was held to be capable of being complied with by the co-developers acting under the agreement.

Conclusion: The co-developers were held entitled to execute the registration documents in favour of the homebuyers and allottees in accordance with the Master Agreement dated 08.10.2024.

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