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.
Continue Reading Development Manager as ‘Promoter’ under RERA regime: Deconstructing MahaRERA’s order in Shapoorjee Pallonji’s Case