Hello
I along with my cousin brothers and sisters have an inherited property on a 7 Cottah plot in East Kolkata. It is a 3 storeyed house built by our forefathers and has tenants ( residential as well as some commercial) occupying the first and ground floors. Owing to financial requirements, we are planning to sell or promote the property. The going rate is about 1.5 Crores per Cottah. However after discussing with a few potential promoters, we are not getting a value more than 50 Lakhs per Cottah if we go in for outright selling.
For a joint venture, one of the promoters has offered a 50:50 share of area where the promoter shall be taking the burden of the tenants.
I would like to ask the experts about what are the best options that we can look into if we go in for a joint venture and what are the legal aspects that one should be aware of in a JV
Thanks for the help
