Joint Development agreement entered with builder , when the transfer of land takes place and lability of tax ?

In Joint Development Agreement entered into by the owner of the land with the builder, when the transfer of land takes place and when the owner is liable to tax?

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  JDA joint dev agreements

1] If an owner of land/bldg is other than individual or huf , will JDA attract capital gain tax u/s 2[47] soon upon registering the same in the case where only area sharing is fixed as consideration ? If yes, what shall be its valuation ? Will it make any difference if huge refundable securities is paid to owner by co-developer, which is over and above are sharing ? 2] Will it make any difference, if JDA agreement is unregistered ? 3] Will section 50D come into play in both above cases ?

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