• Revaluation of land in LLP and admission of new partners

We 3 people are partners in llp firm, the objective of the firm is to develop land. it contains only one land currently who is market value is around 1 cr. ( note : the book value is 35 lakhs ) .
We are thinking of admitting, a fourth partner into the set firm . who would invest all the capital required for construction on the land and give us 
"the old 3 partners rupeess 1 cr".
All these terms and condition for admission of the fourth partner, we would be mentioning , in his llp admission agreement, which would be registered in the register of firms.
Question: 
1. prior of adding the fourth partner, if we revalue the land in our books to the actual market value that is 1cr, by an entry . will then new partner, who would take care of the work, in the firm later ... ...so would the new partner be liable to pay we 3 old partners, the revalued amount of land that is 1cr in any case ... also in case of loss.?? ( as revaluation of the land was done prior to his admission in firm)

2. is there anything else that we could do to safe guard our 1 cr which is revenue projected to us ?

( note : i have got opinion there are other ways to do said document like jv agreement , but due to partners constraints ,, this is only method left.. requested pl to suggest on same lines )