Luxury realtors in a fix over demand shortage from home buyers and retailers hit by the economic slowdown are tinkering with terms to make their business work.

Ambience Group, which has a well-positioned mall on the National Highway 8 connecting Delhi with Gurgaon’s plush zones has decided to waive a minimum revenue guarantee usually paid in the form of upfront payment and is willing to switch to a revenue-sharing model from a plain tenant-landlord relationship.

It has also slashed by 20-30% from Rs 14,500 per square foot the prices of its upcoming luxury condominium project in Gurgaon, Caitriona, and deferred its construction date for the project by a year to 2011. The project includes a golf course and a five-star hotel.

Hindustan Times