shreedhar

dears,
I'm shreedhar, new to this forum. we are having 6 acres of land (a single plot) near surya nagar (a housing board project), 8 km from electronic city. i'm thinking of developing a resort in the same by a joint venture. but i dont know who is a good developer & who is not & also what should be the conditions in the aggrement. what kind of aggrement should be made. Can anybody pls guide me in these things. ill be very greatfull, thanks in advance.

alleyland

Hi Shreedar,

To get straight to the point, you must have some idea of what resort you want, but think it out, luxury, getaway resort/spa etc? or are u trying to cater to some industry? some of the best resorts are always visioned and pictured the starts making it a reality.

On the JV front, you have to keep in mind that your investment is measured by the cost of land you invest. i,e. if your land is worth 10lakhs per acre that 60 lakhs altogether. Now if the development cost is 5 crores, the sharing ratio will be 12%. But do keep in mind that this is for you to calculate, you can ofcourse negotiate, and anything between 15 to 20% is a good deal. You can also take an upfront payment from the developer, ofcourse this amount is refundable.

I hope this information is of some use to you.
Cheers,
Ashwin Leyland