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Whether landowner who share profit will come within the definition of a promoter under K RERA ?

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Kerala Real Estate Regulatory Authority (K-RERA) Kerala Real Estate Regulatory Authority (K-RERA), Government of Kerala verified
Answered on December 14,2023

If the project land is owned by someone other than the promoter, the promoter should submit a registered joint development agreement at the time of submitting the project registration application. This joint development agreement should specify the landowner's share of the project, whether in terms of revenue share or share of units. In this context, the status of the landowner as a promoter depends on the terms of the joint venture agreement/collaboration agreement entered into by the landowner and the promoter.

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