Photo of Mreganka Kukreja

Associate in the Real Estate Practice at the Mumbai office of Cyril Amarchand Mangaldas. She can be reached at mreganka.kukreja@cyrilshroff.com

Development Manager as ‘Promoter’ under RERA regime - Deconstructing MahaRERA’s order in Shapoorjee Pallonji’s Case

1. INTRODUCTION

The Development Management Model (“Model”) has risen exponentially to meet the pace of growth and ensure expansion of real estate projects. The Model typically involves a Development Management Agreement (“DMA”) between a promoter and a development manager, wherein the latter is appointed for project execution, designing, marketing and sales of a project in consideration of a share of the revenue/profit or management fees.
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