Property Developers

Small developers seek to partner with large firms to revive stalled projects: RERA Impact

1:59 PM

Small developers seek to partner with large firms to revive stalled projects: RERA Impact



Systemic delay, coupled with the implementation of the new regulatory laws in real estate, RERA have caused several mid and small sized realty developers to seek partnership and collaboration with with larger developers and firms to revive their stalled projects owing either to fund shortages or regulatory hurdles.Many local builders in Maharashtra, where the new Real Estate (Regulations and Development) Act (RERA) has been notified and a regulatory body has been formed, have approached large developers with deep pockets to take over their stalled projects. Some others are seeking partnerships for new projects which have not taken off.

 Navi Mumbai-based Terraform Realty Ltd is actively looking to partner with large developers to monetize some of its land assets or jointly construct five of its ongoing projects which are at various stages of development. “We are looking to join hands with larger groups with better execution capability. While we have the wherewithal for holding land and taking care of the land asset per se, the development will be done by someone else,” said Santosh Santholia, vice-president, Terraform Realty.
Source :- Accommodation Times

You Might Also Like

0 comments