Small realty firm planning to enter in a Joint Venture with Big realtors.

Small realty firm planning to enter in a Joint Venture with Big realtors.

RM | June 19, 2017 | Monday


Mumbai/Bengaluru: Several small realty firms have decided to either have development management agreement or enter in a Joint venture with big realty firms. This is because the big realty firms can take their project work ahead under the new RERA rules. Many small developers have said that registration under RERA will not be an easy job for realtor’s especially small realtors. Small companies need to find various ways to take their project ahead.

The main objective of this new RERA rules is to protect the buyers and bring transparency into the real estate world. Moreover, no new projects can be launched before completing the old ones and a joint venture will allow the big realtors to completely take over the project and an established developer will maintain the proper cash flow and will execute all the work properly.

Ashish Puravankara, President, Credai chapter Bnegaluru has said that in the current scenario, small developers would find it difficult to survive and they need bigger players to take their project forward. Such a joint venture is being welcomed by most of the big realtors.


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