Real Estate

Overview

ELP offers a diverse range of services in the real estate arena including residential, commercial, industrial, hotels, tourism, SEZs space etc. We have conducted due diligences, advised upon, structured and negotiated on land acquisitions, joint development arrangements, leasing and financing for various types of properties including in the case of redevelopments, slum rehabilitation projects, affordable housing projects, government leases, mega food parks, logistic parks, solar projects, integrated townships etc. across states in India.

Additionally, ELP has also advised on an entire spectrum of issues affecting foreign and domestic investment into the real estate space in the country.

The team also advises various developers, investors and financing institutions in relation to compliances under RERA, across different states in India. This includes handholding our clients and working very closely with them for registration of various projects, including discussions with the technical and accounting teams of the developers, wherever required. ELP’s team has a good understanding and grip on the local real estate laws affecting projects and real estate transactions across states in the country and our endeavour is to bridge the gap between addressing legal requirements regulating investments in this sector and tying them to commercially viable solutions.

Services

Land Acquisition

  • Comprehensive title searches and due diligences across most states in India
  • Advice on the statutory permissions and/or approvals to be procured, zoning requirements, including the timelines involved
  • Structuring and drafting conveyance documents in case of aggregation and other wise
  • Advice on the Stamp duty, registration fees and other acquisition costs

Project Development and Construction Contracts

  • Structuring and advising on the development contracts in relation to different projects including joint development arrangements, redevelopments, slum rehabilitations schemes etc.
  • Structuring and advising on development of industrial parks, logistic parks, SEZs etc.
  • Advising on documentation and agreements with contractors, architects, engineers etc.
  • Drafting of the documents in relation to sale/allotment of the units/areas under a project including agreement to sell, conveyance documents, lease documents, possession letters etc.

RERA Compliance Advisory

  • Advising developers on the compliances under RERA and handholding for the registration of projects with RERA authorities in different states in India
  • Advising developers and promoters on compliance under RERA in relation to specific instances under various projects
  • Advising banks, financial institutions and developers on the compliances under RERA in various states including the waterfall mechanisms in different projects to ensure that the projects are in compliance with the provisions of RERA

 Due Diligence

  • Conducting title searches with the offices of Sub-Registrar of Assurances, Revenue Authorities etc. and providing title due diligence reports and title certificates in relation to properties situated in different states in India for the purposes of acquisitions, mortgages etc.
  • Conducting due diligences of the property-owning entities where the structure requires acquisition of or investments in the entities owning subject properties

SPV Acquisitions and Investments

  • ELP advises on various transactions which are structured for acquisition of the property owning entities and drafts and advises on the entire documentation starting from the Memoranda of Understanding/Term Sheets and the Share transfer/investment documentation etc.

New Formats and Concepts in Real Estate Opportunities

  • Advice on new formats and structures for addressing specific opportunities in infrastructure, spiritual tourism, health & wellness centres, national footprints for star rated hotels including single brand concessionaire of international brands in the real estate space

Leasing Transactions

  • Comprehensive title searches and verification of the title
  • Drafting lease documents and leave and license documents
  • Advice on stamp duty and registration

Venture Capital Issues

  • Specific advice on VC fund structuring, formation, deployment and exit

Corporate Commercial Requirements

  • Fund structuring, Fund formation, deployment and exit
  • Applications and procurement of necessary approvals/permissions from concerned Regulatory Authorities

Taxation (Direct)

 Entry Strategy

  • Advice on tax efficient structuring of investment

 Operation of Venture/Project

  • Advice on availing tax exemption benefits and deductions for specific real estate activities
  • Tax planning for minimisation of impact of Corporate Tax, Dividend Distribution Tax, Minimum Alternate Tax

 Fund Exit

  • Tax planning for minimisation of applicable taxes on exit from the project in the exit mode identified for the Investor

Taxation (Indirect)

  • Review of arrangements and/or agreements proposed and/or entered into for each project from an Indirect Tax perspective, particularly, determination of tax exposures and identification of areas of potential savings within the legal framework
  • Advice on alternatives to optimise Indirect Tax implications

Recognitions