Anant Raj Limited has entered into a Supplementary Agreement with Destination Properties Private Limited, modifying an existing collaboration arrangement dated November 26, 2021, for the development of a residential group housing project in Gurugram, Haryana. The project will be developed over an aggregate land parcel of approximately 5.0875 acres. Destination Properties Private Limited has contributed 2.25 acres to the project. The agreement operates on a revenue-sharing model for project monetization. Anant Raj Limited holds exclusive development, marketing, and sales rights. Revenue will be shared periodically from project collections through a RERA-compliant mechanism, with provisions for post-completion reconciliation and sharing of unsold inventory. Under the modified terms, Destination Properties Private Limited will now be entitled to 17.69% of the total project revenue, a change from their previous entitlement to a share of the developed area. Destination Properties Private Limited will also reimburse Anant Raj Limited for the cost incurred in buying Transferable Development Rights (TDR). The project is subject to applicable regulatory approvals, including RERA Registration and local development regulations.
