Kaagazaat

Joint Venture Agreement

At a glance

Price: Free, always.
Stamp duty: Stamp duty depends on what the venture does and on the Schedule to the Indian Stamp Act, 1899 as applied in Punjab and in Chandigarh.
Registration: Not compulsorily registrable unless it creates or transfers a right in immovable property (section 17, Registration Act, 1908); this paper is not meant to.
Witnesses: Not required by law, but two adult witnesses who are not parties, each writing name, address and ID reference beside the signature, make a later denial harder.

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Free, always.

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Also called

JV agreement
joint venture contract
collaboration agreement
project partnership
business collaboration
profit sharing agreement for a project
sanjha udyam karar
joint venture MOU

When you need it

Two businesses or people in Punjab or Chandigarh decide to carry out one defined project together (building a plant, running a restaurant, trading in a product, executing a contract) and share the profit and the risk, without forming a company or a general partnership for all their affairs. This agreement fixes what the project is, what each side puts in (money, land, equipment, skill, licences), how profit and loss are shared, who manages, how decisions are made and what happens in a deadlock, how the money is kept and accounted for, how long it lasts, and how a side leaves.

Be aware that a joint venture that is run together for profit can be treated by tax and other authorities as a partnership or an association of persons, whatever it is called; whether to form a company or LLP for it instead is a decision for an adviser. This document is a contractual venture and is not a new legal entity. Not for a start-up founders' arrangement (use the Founders' Agreement). Not for a continuing firm of partners (use the Partnership Deed). Not for a non-binding statement of intent (use the General Business MOU). Not for owners of a company who want a shareholders' agreement.

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

Stamp duty depends on what the venture does and on the Schedule to the Indian Stamp Act, 1899 as applied in Punjab and in Chandigarh. A contractual venture agreement is usually charged as an agreement not otherwise provided for, but if it creates a partnership, or if a party transfers land or buildings into the venture, a higher duty or a separate conveyance applies. The figure is not stated here: confirm it on the official e-stamping portal or with the Sub-Registrar before buying the stamp. An under-stamped paper cannot be used as evidence until the deficit and penalty are paid.

Registration

Not compulsorily registrable unless it creates or transfers a right in immovable property (section 17, Registration Act, 1908); this paper is not meant to. Registration is optional if the parties want it.

Notarisation

Not required by law, and not a substitute for stamping. A notary only records that the signatories appeared and signed, which makes it harder to deny a signature later. Carry original photo ID.

Witnesses

Not required by law, but two adult witnesses who are not parties, each writing name, address and ID reference beside the signature, make a later denial harder.

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JOINT VENTURE AGREEMENT

This Agreement is made at Chandigarh on 2 April 2026.

BETWEEN

Singh Constructions Private Limited, of SCO 90, Sector 20-C, Chandigarh 160020, PAN AKJPI4432R, acting through Gurdev Singh, Director (the "First Party");

AND

Kaur Hospitality LLP, of House No. 77, Sector 8, Panchkula 134109, PAN AKJPI4432R, acting through Manpreet Kaur, Designated Partner (the "Second Party").

The First Party and the Second Party are together the "Parties".

1. THE VENTURE

1.1 The Parties form a joint venture (the "Venture") from 1 April 2026 for this project only: To build and run a 40-room business hotel on plot 14, Phase 9, S.A.S. Nagar (Mohali), under the name "Orchard Suites".

1.2 The Venture trades under the name Orchard Suites. It is a contractual arrangement between the Parties and is not a company or a limited liability partnership. Neither Party may bind the other, or the Venture, to anything outside clause 1.1 or beyond the limits in clause 3 without the other's written consent. Except as this Agreement says, the Parties are not partners in each other's other businesses.

2. CONTRIBUTIONS

2.1 The First Party shall contribute: Rs 3 crore in cash in instalments, and the construction work at cost plus 8 per cent, supervised by its engineers.

2.2 The Second Party shall contribute: The plot on a 30-year lease at an agreed value of Rs 4 crore, Rs 1 crore in cash, and its hotel-operating experience and brand.

2.3 A contribution is made on the dates and in the manner stated, and is recorded in the Venture's books at the value stated. If more money is needed, it is called by the manager in writing and provided by the Parties in the proportion of their shares in clause 3.1, and a Party that does not provide its part within thirty days may be diluted or lend the amount to the other as the Parties then agree in writing. Neither Party is bound to put in more than it has agreed to without its written consent.

3. SHARING AND CONTROL

3.1 The profits and losses of the Venture belong to the Parties in these shares: 50 per cent to the First Party and the balance to the Second Party. Profits that can safely be distributed, after meeting costs, taxes, loan repayments and a reasonable reserve, shall be paid out every 3 months.

3.2 The Venture is managed day to day by the First Party (the "Manager"). A committee of two members, one named by each Party, decides the matters that need both Parties' approval: the annual budget; any single spend or contract above ₹2,00,000 (Rupees Two Lakh only); borrowing or giving security; buying or selling an asset of the Venture outside the ordinary course; admitting a new party; changing the project; and winding the Venture up. These matters need both members' written approval.

3.3 If the committee cannot agree on a matter within thirty days, either Party may refer it to a senior representative of each Party who shall meet and try in good faith to settle it within a further fifteen days. If still unresolved, the matter is a dispute under clause 8, and until it is resolved the Venture continues as before without the proposed step.

Questions about this document

Does the Joint Venture Agreement need stamp paper or stamp duty in Punjab and Chandigarh?

Stamp duty depends on what the venture does and on the Schedule to the Indian Stamp Act, 1899 as applied in Punjab and in Chandigarh.

See the full position on stamp duty, registration and witnesses

Does the Joint Venture Agreement need registration in Punjab and Chandigarh?

Not compulsorily registrable unless it creates or transfers a right in immovable property (section 17, Registration Act, 1908); this paper is not meant to.

See the full position on stamp duty, registration and witnesses

What does the Joint Venture Agreement cost on Kaagazaat?

Free, always.

Does the Joint Venture Agreement need witnesses?

Not required by law, but two adult witnesses who are not parties, each writing name, address and ID reference beside the signature, make a later denial harder.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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