CONSTRUCTION CAREER OPPORTUNITIES | கட்டுமானத் துறையில் வேலை வாய்ப்புகள்

A joint venture in construction is a business arrangement where a landowner partners with a developer (like Varahi Construction) to develop a property. The landowner contributes the land, while we take care of the construction costs, expertise, and project management. After completion, the developed property or its revenue is shared between both parties according to a pre-agreed ratio, typically ranging from 40:60 to 50:50, depending on various factors.

For residential projects, we typically look for plots of at least 2400 sq.ft with good road access (30+ ft road width). For commercial projects, we prefer plots of 4000 sq.ft or more with at least 40 ft road width. However, we evaluate each property individually, and factors like location, shape, and development potential can influence our decision. Properties in prime areas of Chennai with smaller dimensions may still qualify.

The profit sharing ratio is determined based on several factors, including:

- The location and market value of the land
- The size and dimensions of the plot
- Development potential and applicable FSI/FAR
- Current market conditions
- Projected construction costs
- Expected returns on investment

After evaluating these factors, we propose a fair sharing ratio that ensures profitable returns for both parties. This is always open for negotiation until both parties are satisfied.

The key legal documents involved in our joint venture agreements include:

- Joint Development Agreement (JDA): The primary document outlining all terms and conditions
- General Power of Attorney (GPA): For project execution purposes
- Development Rights Agreement: Detailing construction and development rights
- Area Sharing Agreement: Specifying the division of constructed area
- Supplementary agreements as required

All documents are drafted by legal experts and thoroughly reviewed before signing to protect the interests of both parties.

The timeline varies depending on the size and complexity of the project. A typical residential joint venture project follows this approximate timeline:

- Planning and design: 2-3 months
- Approvals and permits: 3-6 months
- Construction: 12-18 months for smaller projects, 18-24+ months for larger ones
- Finishing and handover: 1-2 months

In total, most residential projects take around 18-24 months from agreement to completion, while larger or commercial projects may take 24-36 months.

As a landowner in our joint venture arrangement, your primary contribution is the land itself. We handle all development costs including:

- Architectural and structural design costs
- Building approval and permit fees
- Construction materials and labor costs
- Utility connections and infrastructure development
- Marketing expenses if applicable

In some cases, there might be property tax, legal documentation fees, or existing loan clearances that need to be addressed, which we can discuss during our initial consultation.