How builders are adopting out-of-the-box strategies to revive stalled under construction projects

Consumer activism, court interferences and stalled projects, some builders are adopting out-of the-box strategies to find ways to bring projects back to life. Builder Amrapali In Noida, is tying up with third-party contractors to complete part-built towers in many of its projects where work had been stalled due to a cash crunch and litigation. In this deal, a contractor would take up 4-5 towers in a group and put upfront money of his own to revive the work and take it to a stage where construction-linked customer payments can be sought.Once the project Complete,Contractor will get a share of builders profits apart from their fees . In Bengaluru, for instance, Essar Group's real estate arm Equinox recently sold an 8-acre under-construction project in Hebbal — called Water's Edge — to local developer SNN Builders for Rs 490 crore. This also included all customer liabilities. SNN has now taken over the responsibility of finishing and delivering the project with a revised timeline. Another model being used by builders is to bring in a joint venture partner midway to bring in liquidity.

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