Whether A Development Manager Is As A Promoter Under RERA?

In the past few years inefficiency in project management, lack of transparency, improper planning and monitoring of projects, unjustifiable delays in project completion, liquidity crunch in financial institutions, rising court disputes and unethical practices have made sale of under construction inventory challenging for small and medium developers in India.

To avoid the aforesaid, small and medium sized developers preferred partnering with larger developers to sell and market the project in the name of the larger reputed developer. Typically, a small / medium sized developer executes a development management agreement with a large developer, wherein the large developer is appointed as a development manager by the small / medium sized developer for a project.