Which metrics help developers decide on JV terms negotiation?

[Vijay Kurhade]

Which all key figures help developers decide on negotiating terms of JV for development(build and sell).

Deal here with one of Landlord is, 52k sq ft plot, Multi Use development possible (Ground + 1 floor parking, 4 floors of commercial space, 14 floors of residential apartments).

Owner is not ready to give up on 55 - 45% JV model (55% for Developer, 45% for Land owner + 1.2 mn USD cash).

Where as out of 4 prospective Developers, no one is ready to be beyond 34%. Its been more than 4 months and its like Who blinks first and no one is ready to give up their stand.

Trying to understand

Which all numbers or metrics help Developers decide on JV terms as well How do Land owners come up with their terms for better ROI.