Piramal Realty to foray into development management biz, value housing

Piramal Realty, the real estate arm of Piramal Group, is getting into development management business and value housing to augment its revenue.
 
Under development management, a developer takes care of the design, construction, marketing, and sales of a project for a fee from the original landowner/developer.
 
“Many banks and non-banking financial companies are coming to us to finish stuck projects. We are evaluating such proposals,” said Anand Piramal, founder, Piramal Realty.
 
Against the traditional development management model, the company would also raise funds and partake of the project profits.
 
“We can do four to five such