A Joint venture is an association between two or more participants for a specific business purpose and for a limited duration. A joint venture comes to an end once the business purpose is achieved. A joint venture is characterized by risk sharing, combining capital and expertise of the involved parties and speculative objectives.
All you want is fairness in any of your dealings. Here, an owner of a site and a developer come together to enter into an arrangement to develop a property jointly.
It gives you the flexibility of designing your home the way you want it. Your apartment can be planned as per your requirements. It can be organized as a partnership firm, a corporation or any other form of business organization which the participants deem fit.