Property Developer Business

Main Object Clause of an entity having business of Property Developer (For Example: Sobha Developers Limited)

1. To carry on the business as builders, property developers, civil, mechanical and labour contractors, building and erection engineers, dealers in, importers, exporters and manufacturers of prefabricated and pre-cast houses, materials, tools, implements, machinery and metal ware in connection therewith or incidental thereto and to carry on any other business that is customarily, usually and conveniently carried on therewith in or outside India and to purchase, acquire, take on lease or in exchange or in any other lawful manner any area, land, buildings, structures and to turn the same into account, develop the same and dispose off or maintain the same.

2. To carry on the business of development of hi-technology industrial parks, residential townships, vocational training centres, leisure parks, convention centres and development of other infra structural facilities and to act as technical consultants and advisors in all matters relating to rural and urban infrastructural development.

3. To carry on the business to acquire by purchase, lease, exchange, hire or otherwise hold, manage, work, develop the resources of and turn to account any estates, lands, buildings, tenements and other property of every description, whether freehold or leasehold or other tenure and wheresoever situate and any interests therein and rights connected therewith and in particular to acquire or take over certain estates situate in India or outside and all or any parts thereon and any other assets used in connection therewith.