The city's real estate scene is seeing an increase in joint development deals, with two famous developers teaming up with landowner groups to start new projects.
This tendency is considered as a reaction to the enormous increase in land prices over the last few years, which has made it difficult for developers to dedicate significant resources for land purchase.
Collaborating with landowners through joint ventures provides developers with much-needed relief, relieving their financial responsibilities, especially given the higher jantri rates and the accompanying pricey premium FSI charges.
Following the implementation of the new jantri rates, two large developers have finalised joint development agreements with various landowner groups in the last two months.
For the first time, The Baker Group has chosen a cooperative development project with a landowner group, unveiling plans for a 5 lakh square foot residential complex in Shilaj.
The Shivalik Group, too, has completed a collaborative development project at Vaishnodevi Circle.
