According to the agreement terms and conditions, L&T (Larson & Toubro’s)& DB Realities will share some ratio of space developed in 60:40. As DB Realty is the licensee so it will be responsible for any approval regarding land and he would also bear the cost to suffer for changeable floor space index and transferable development rights.
L&T Realty will Construct, Execute, Brand & Market the project. It is a real estate development unit of Larsen & Toubro. It is about to form an association with DB Realty and has decided to jointly develop a residential project of over 1.4 million sq ft in malad that is in Mumbai’s western suburb.
The location of the project would be Dindoshi, Malad and it will be developed on DB Realty’s around 8-acre land parcel.
DB Realty’s 26% stake in a commercial project has been taken by one of the prestige group of Bengaluru at Mumbai’s Bandra locality, which has a development potential of more than 7lac sq ft and is valued around Rs 2100 cr. This project includes a total of 200 hotel rooms, and the rest are office space. 3BRICK.com (real-estate website and android app, where end user can search for property and submit their own offer price against the builders quote)
GST and Demonetisation have resulted in consolidation in the real estate sector. Many real estate developers are looking for partners to work jointly on upcoming projects.
RERA and GST regimes, have made developers rework on their old business models.
Due to high land prices, many builders are looking to start joint ventures for developing new real estate projects in Mumbai, Pune and Bengaluru. In this developer does legal agreements with the landlord to jointly develop land parcels against upfront payment, or a share in business or a share in revenue of the developed project.