“Mallcom (India) Limited” and “KJN Housing LLP” have entered into a “Joint Development Agreement” registered on June 21, 2023 for developments of its land parcel admeasuring about 5 Bighas 9 Cottah 3 Chittacks at Premises No. 34B & C, Chandra Nath Roy Road, Kolkata-700039, West Bengal.
All ‘decisions with respect to development, marketing arid sale of the said Project will be jointly taken by the Company and KJN Housing LLP. The grant of Joint Development rights to KJN Housing LLP in the said Project shall be subject to receipt of certain government/ regulatory approval(s) and compliance of certain terms and conditions by KJN Housing LLP.
KJN Housing LLP shall bear the entire cost of approval, construction, development, marketing and maintenance etc. of the said Project. The Company will be entitled to receive 30% of the net sale revenue from the said Project and the remaining 70% of net sale revenue of the Project shall be paid to KJN Housing LLP in accordance with the Joint Development Agreement.
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