Term Sheet

From feasibility approval to definitive docs — the negotiation, IC approval, and legal closure that turn a plot into a project.

What it is

The acquisition workflow that converts feasibility-approved plots into legally owned projects. It covers negotiations with landowners or JDP partners, FSI re-verification, techno-legal study, term sheet drafting, Investment Committee approval, MD sign-off, agreement registration, and physical handover. Internal stakeholders (Design, MEP, CPT, Marketing, PMO) are briefed at the kick-off so they can begin work in parallel with legal closure.

Inputs

Triggers

·Feasibility first-stage approval received from M02
·Negotiation round with landowner or JDP partner concluded
·IC review meeting scheduled
·Techno-legal diligence completed by external counsel

Data reads

·Feasibility record with approved terms
·Historical JDP and acquisition outcomes for benchmark
·Internal alignment status across Legal, BD, Finance, Design
·Statutory and regulatory requirements for the jurisdiction

Artefacts consumed

·Independent FSI re-verification report
·Land use statement
·Techno-legal due diligence report
·IC briefing pack and approval documentation
·MD-signed term sheet

Tools & Techniques

Methods

·Negotiation playbook with commercial and structural levers
·Parallel-track diligence — title, FSI, statutory, encumbrance
·IC approval workflow with structured pack and decision capture
·Internal kick-off broadcast to Design, MEP, CPT, Marketing, PMO

Policies

·acquisition policy — approval thresholds, commercial terms
·Legal diligence policy — minimum scope, external counsel engagement
·IC governance policy — what gets escalated, approval cadence

Decision rules

·IC approval mandatory before term sheet finalisation
·MD signs every term sheet
·Registration only after IC-approved terms are formally accepted by counter-party
·Internal kick-off briefing fires automatically upon registration

Outputs

Artefacts produced

·Signed term sheet with MD authorisation
·Techno-legal diligence report
·IC approval documentation
·Registered agreement with sub-registrar
·Internal kick-off brief packaged for downstream functions
·Plot physical handover record

Data writes

·Project master created in SAP on registration
·Project record promoted from feasibility to active
·Approval and milestone register seeded with downstream dates

Downstream triggers

·Project becomes legally ours — every downstream function gets the brief
·Liaison begins approval strategy planning in M04
·Design empanels consultants in M05
·Marketing begins GTM planning in M06
·PMO seeds the master schedule in M16

Stakeholders

BDOwns negotiations and counter-party relationship
LegalTechno-legal study, term sheet drafting, registration
LiaisonIndependent FSI re-verification through consultant
Investment CommitteeApproval on commercial terms and risk
MDFinal sign-off on term sheet
Design · CPT · Marketing · PMOInternal kick-off, brief received

The flow

01Negotiations with JDP or landowner — commercial and structural terms
02FSI checking by independent consultant
03Land use statement — permitted use, restrictions
04Internal alignment on terms — commercial and legal
05IC approval
06Final offer to counter-party
07Techno-legal study — deep diligence, title chain, statutory compliance
08Term sheet drafting
09MD sign-off
10Internal kick-off with stakeholders — Design, MEP, CPT, Marketing, PMO
11Due diligence and agreement registration with sub-registrar
12Site vacation, encroachment clearance, physical handover

State change

Before

Plot is feasibility-approved but not legally ours.

After

Plot is a fully owned project with definitive docs, internal teams briefed, registration done.

Real-world example

Goregaon plot — negotiations close in three weeks. IC approves on 28 April. MD signs the term sheet on 02 May. Techno-legal closure and registration complete by 19 May. Physical handover taken on 21 May. Design and Marketing already briefed and beginning work in parallel.

Artefacts

·Negotiation log
·FSI re-verification report
·IC approval document
·Signed term sheet
·Techno-legal due diligence report
·Registered agreement
·Internal kick-off brief
·Plot handover record

Pain today

Negotiation status visibility depends on whom you ask. IC approvals sit in inboxes. Internal kick-off briefs are emailed individually and lose continuity. Design starts late because the brief is unclear.

Integrations

SAP (project master creation on registration)