The Canadian Pension Fund will put in money only for the construction," said a person close to one of the developers.
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"The pension fund may invest up to $2billion (Rs 13,600crores) in the project.
We are still fine-tuning some of the clauses before finalizing it," a top government source told TOI on Friday .
The developers, along with the pension fund, are expect to sign a tripartite agreement with the SRA. "The two developers will have to obtain letter of intent (LOI) themselves.
They will not get any preferential treatment for that.
But once they receive LOI, the SRA will put them on the fast track," the sources added.
SRA CEO Aseem Gupta said the state was awaiting confirmation from Canadian government officials. "The government wants to sell homes at a cheap rate of say , Rs 5,000 to Rs 6,000 a sq ft.