Development · Landowning family · Tellapur
A joint development that survived the family
- 23%Above best prior offer
- 11Family members bound
- 2.6acresAcres under development
- 124Apartments
What the client needed
A family had held 2.6 acres in Tellapur since 1974. Four developers had approached them, each opening with a share ratio and none of them with a valuation.
The family had eleven members with an interest in the land across three branches, and no documented partition. Any agreement signed in that state would have been vulnerable for years.
What WENS did
We told them not to negotiate yet. The first six months were spent documenting the partition through a registered family settlement, so that whoever signed the development agreement could actually bind the property.
We then produced an independent valuation based on transacted comparables and used it to reset the conversation from share ratio to absolute value per member.
The agreement WENS entered into carries a refundable security deposit, a dated delivery schedule with liquidated damages, and a default clause that returns development rights to the family if milestones are missed by more than a defined margin.
What resulted
The settlement was registered and the development agreement executed with all eleven family members as consenting parties.
The family’s share settled 23% above the best of the four earlier offers, measured on built area at the same specification.
WENS Lakeview Residences is now under construction, with structure complete to the eighth floor of both towers.
Four developers approached us before WENS did, and all four opened with a share ratio. WENS opened with a valuation and told us to get our partition documented first. It cost us six months and it got us a materially better deal.
The scheme this produced
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