Real Estate

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

To boost the industry further, government is introducing various measures. For example, the Securities Exchange Board of India (SEBI) has allowed debt funds to invest in housing finance companies, a step that will indirectly benefit the real estate industry. REITs (Real Estate Investment Trusts) are set to become a common vehicle for investment in real estate.

Real Estate transactions in India are complex and 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 clients in different ways depending on whether theyplan to rent, lease, build-to-suit or buy land to construct your own facilities in India. Clients need to understand the applicable land use and property ownership and transfer laws applicable to the relevant states prior to making any investments so that their business is not affected.

Establishing clear and undisputed title to property is complicated, due to factors such as incomplete computerization of land records, non-availability of old records, cases of fabricated records, etc.Multiple local authorities are responsible for various approvals andoften, all underlying documentation is in the local language. Given these dynamics, it is very important to conduct a thorough due diligence through a professional having expertise and knowledge on the local laws and having experience in handling practical situations is essential.

Fox Mandal’s specialist real estate practice comprises lawyers with extensive experience in advising clients on a range of matters pertaining to real estate in different states.

Our services

  1. Drafting
    • Drafting of deeds like agreements for sale, sale deeds, lease deeds, settlement deeds, partition deeds, will, lease, licence agreement etc.
    • Assistance in the registration process
  2. Infrastructure Projects
    • Preparation of:
      • Expression of Interest
      • RFP/RFQ/Concession agreement
      • Feasibility report including technical and financial plans for various options under PPP mode / 
      • Project Finance legal advice and documentation
  3. Joint Venture Development
    • Drafting Joint Development Agreements for developing commercial and residential properties
    • Advising on tax implications on the transaction structure
    • Advising on investment structure and options available
  4. Title Investigation
    1. Verification of original document
    2. Physical inspection of the site
    3. Carrying out personal searches with the concerned statutory authority
    4. Issuing Report on Title
    5. Assistance in compliance with requirements of notices in newspapers regarding proposed purchase or sale of property.
    6. Assistance in conversion of land use classification, if required
    7. Assistance in the process of obtaining land ceiling exemption, if required
    8. Construction dispute resolution

Our experience straddles real estate for commercial, hospitality, industrial, educational, leisure and other purposes. Clients of our Real Estate practice include Indian and foreign companies, real estate agents, hoteliers, banks/financial institutions and government authorities.

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