REAL ESTATE

ELP is a market leader in providing legal services to the hospitality and leisure sector, having advised on several greenfield hotel transactions for international hotel brands such as Novotel, IBIS, Sofitel, Shangri-La, Hyatt, Marriott, Starwood, and Hilton amongst others as well as on acquisitions, expansions and reflagging of existing hotel projects.

Our endeavor is to bridge the gap between meeting legal requirements regulating investments in this sector and marrying them to commercially viable solutions.

Services

Land Acquisition
  • Comprehensive title searches and verification
  • Advice on the statutory permissions/approvals to be procured, zoning requirements, including the timelines involved
  • Drafting conveyance documents
  • Advice on the Stamp duty, registration fees and other acquisition costs
Construction and Development Contracts

Documentation such as Memoranda of Understanding/ Term Sheets, Land Acquisition Agreements, Property Development Agreements, Shareholder's Agreements, Construction Agreements, Lease Deeds and Tenancy Documentation, Mortgage Documents, Consultancy Agreements, Downstream Sale Agreements for Units in the Project, Loan Documentation for Bridge Financing, Working Capital.

New Formats and Concepts in Real Estate Opportunities

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

Venture Capital Issues

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

Leasing Transactions
  • Comprehensive title searches and verification
  • Drafting lease and license documents
  • Advice on stamp duty and registration
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 minimization of impact of Corporate Tax, Dividend Distribution Tax, Minimum Alternate Tax
  • Fund Exit:
    • Tax planning for minimization of applicable taxes on exit from the project in the exit mode identified for the Investor
Taxation (Indirect)
  • Review of arrangements/agreements proposed /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
  • Advise on alternatives to optimize Indirect tax implications.

Chambers Asia-Pacific 2016

"An extremely reliable and dependable firm, providing timely completion of deliverables in a useful and effective manner."

The Legal500 Asia-Pacific 2015

Economic Laws Practice provides a diverse range of real estate services, with particular emphasis on the hotel industry. Sujjain Talwar and Suhail Nathani are key figures.

The Legal500 Asia-Pacific 2013

Economic Laws Practice has expertise in real estate matters.

Achievements

Real Estate Deal of the Year in India Business Law Journal's Deals of the Year Awards 2015 for advising on New Vernon and Hilson Estates' sale of indirect stake in Faery Estates to Canada Pension Plan Investment Board and Shapoorji Pallonji Group's JV company


Experts from the team have been recognised for their expertise in Construction by Who's Who Legal




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