Anant Raj Limited has signed a supplementary agreement to modify the terms of its collaboration with Destination Properties Private Limited for a 5.0875-acre group housing project in Gurugram, Haryana. The revised agreement shifts the arrangement from a share of developed area to a revenue-sharing model, under which the partner will now receive 17.69% of the total project revenue. Anant Raj Limited retains exclusive development, marketing, and sales rights for the residential venture.
Strategic Revision of Collaboration
Anant Raj Limited has formalized a supplementary agreement on April 9, 2026, to refine the framework of its existing residential project partnership. The original collaboration, established on November 26, 2021, has been updated to better align the project’s commercial structure with current objectives.
New Revenue-Sharing Framework
Under the revised terms, the model for project monetization has been transitioned from an area-sharing basis to a revenue-sharing structure. Key aspects of this updated agreement include:
- Revenue Sharing: Destination Properties Private Limited is now entitled to 17.69% of the total project revenue, distributed periodically through a transparent mechanism.
- Operational Control: Anant Raj Limited maintains exclusive rights regarding the development, marketing, and sales of the residential units.
- Cost Management: The partner will reimburse the company for costs associated with the acquisition of Transferable Development Rights (TDR).
Project Details
The project is situated on an aggregated land parcel spanning approximately 5.0875 acres, with 2.25 acres contributed by the partner. The initiative remains subject to standard regulatory approvals, including the required local development clearances and project registration. The agreement also includes provisions for post-completion reconciliation and the management of any unsold inventory.
Source: BSE
