The developer’s residential platform and the landlord have finalised a revenue share structure for the proposed joint development, wherein K Raheja Corp will get 57% revenue share, while the balance 43% will go to the landlord.
The developers residential platform and the landlord have finalised a revenue share structure for the proposed joint development, wherein K Raheja Corp will get 57% revenue share, while the balance 43% will go to the landlord. As per this agreement, the developer will be responsible for all planning, design, approvals, execution, branding, and sales efforts. The pact stipulates that K Raheja Corp is expected to complete the project within five years.
A division bench of Chief Justice Devendra Kumar Upadhyaya and Justice Arif S Doctor on Wednesday was hearing an application filed by a senior citizen, former judicial officer and Bandra-East resident K P Purushothaman Nair last year.
The decision comes two weeks after the high court came down heavily on the state for failing to consider Rotawan s request for house allotment with sensitivity and basic human rights.