Real estate legal advisory services from India for entities from Singapore

Real estate legal advisory services from India for entities from Singapore

Fox Mandal is a full service law firm from India. We are one of India’s oldest and most respected firms.With 10 offices across India, the Firm advises a wide range of clients, including Fortune 500 companies, large and medium multinationals, Indian business groups, emerging companies, public sector organizations, government, and educational institutions on various facets of law.

India’s real estate industry continues its rapid transition from largely being an unorganized sector to an organized sector. Rapid infrastructure development across the country is encouraging corporate participation in this sector. The Real Estate (Regulation & Development) Act, 2016 provides for a much higher level of protection to home-buyers than ever before. The Benami Transactions (Prohibition) Amended Act, 2016 is another legislation that property transactions will be subject to.

Ongoing improvements in governance and the increasing use of information technology are making authentic information about property ownership more easily available, thus helping to make the process of property purchase/sale easier.

To boost the industry further, the Indian government has introduced various measures. For example, the Securities Exchange Board of India (SEBI) allows debt funds to invest in housing finance companies, a step that will indirectly benefit the real estate industry. REITs (Real Estate Investment Trusts) are expected to gain popularity as a vehicle for investments in real estate.

Real Estate transactions in India are complex and entities from Singapore need professional advisors

Each state in India has its own rules and legislations governing the use of land as well as purchase, ownership and sale of immovable property. In most parts of India, the state government has identified various tracts of land in its jurisdiction for specific usage under Master Plans. Various approvals and clearances from state and local government agencies are needed before land can be used for a different purpose.

These differences could affect foreign companies, including from the UK, depending on whether the objective is to rent, lease, build-to-suit or buy land to construct facilities in India. UK companies need to understand the applicable land use and property ownership and transfer laws applicable to the relevant states in India prior to making any investments so that the business is not affected.

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