Facing liquidity issues, big realtors eye new development management models

Godrej Properties, the real estate arm of the Godrej Group, recently signed a development management (DM) contract deal with Pune-based developer Solitaire to develop a project of 25 million square (sq.) feet (ft) and invested its money in 50 per cent of the land cost.   In a normal DM model, Godrej would not have given money for the land. It would have just lent its name to the project and carried out the construction, marketing, and sales for a fee which is 12-15 per cent of the top line of the project. It has already paid around Rs 500 crore and is giving some more money .....

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