Joint development of area

Shiva Shankara R. Shetty (Querist) 10 July 2014 This query is : Resolved
Dear Experts,
I need expert opinion for the below queiry:

The area is appr. 3.5 acre. The 1.5 acre registered in the name of party M, 1.2 acre land registered in the name of party p and remaining portion registered in the name of party 'H.

Basically each portion of land registered in the name of concerned parties.

They entered into partnership deed and developped the entire land jointly.

Now more than 90% sites sold as on date. Each portion of land ie., there are some unsold sites. Now each party want retain the unsold site for their personal use. Now question arises that, whether separate registration required to retain such unsold sites?

In addition to that, any legal requirements to be fulfilled?

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Raj Kumar Makkad (Expert) 10 July 2014
As registration of ownership has already taken place so there is no such requirement to get the same done again rather they are required to register a Settlement Deed vide which they may divide respective portions so as to avoid future complications,if any.