[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Shashi kant shukla|
staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share
with you which is as mentioned under.
Bengaluru | New Delhi: Property developers in the Delhi-NCR region are partnering
large builders from the country’s South and West to restart projects, in the backdrop
of a severe cash crunch, the stringent Real Estate Regulatory Act and the threat of
being taken to the National Company Law Tribunal.
Financially strong firms like Prestige Group, Godrej Properties and Kalpataru Group
have entered into joint ventures, joint development and development management
agreements in the country’s largest property market by volume.
A joint venture or development management agreement puts a large developer in
the driver’s seat as the new entrant gains control of the new entity. Additionally, the
established developer’s track record and ability to maintain cash flows help bolster
project execution and marketing.
“Local developers are unable to develop on their own and are under threat of being
taken to the NCLT as buyers prefer corporate developers with better track record.
Southern developers, who have better finances, are able to get good projects with
lower risks as the local partner takes care of the permissions,” said Mudassir Zaidi,
executive director (North) of real estate consultant Knight Frank India.
Read more at : https://economictimes.indiatimes.com/wealth/real-estate/delhi-ncr-realtors-enter-into-joint-ventures-to-tide-over-cash-crunch/articleshow/71933774.cms
Have a nice day.