Joint venture property development, commonly known as JV in the real estate industry, is the most preferred model of development for many landowners, builders, and contractors. It is in the form of an agreement between the builder and the land owner. Through this arrangement, the landowner agrees to provide their land to the builder for development under a fixed contract. The builder then works on the project and construction based on the guidelines of the Joint Development Agreement. The landowner will receive a share of the property in the form of a flat/apartment, as per the agreed terms & conditions of the Joint venture Development Agreement.
Usually, land owners opt for joint venture property development if they have a vacant plot that they want to develop, if the property is being divided amongst siblings or if the owner is looking to renovate the existing flat/apartment, where the FSI (Floor Space Index) is revised.
How is joint venture property development beneficial to land owners?
What not to worry about Joint Venture Property Development with Vignesh homes.
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