Overview

THE REGULATORY ENVIRONMENT

India’s real estate sector is regulated by the Real Estate (Regulation and Development) Act, 2016 (RERA), which has enhanced transparency and accountability. RERA mandates project registration and detailed disclosures, safeguarding buyers’ interests and ensuring project fund accountability. Additionally, streamlined Goods and Services Tax (GST) rates and the role of the Insolvency and Bankruptcy Code (IBC) in addressing developer insolvencies contribute to the sector’s structure. Despite these improvements, challenges like delayed RERA adjudications and varied state-level implementations remain.

WHAT WE DO?

ELP offers a range of services in the real estate arena. Our diverse portfolio includes residential, commercial, industrial, hotel, tourism, and SEZs spaces, among others. With a strong track record, we have successfully undertaken due diligence, provided advisory services, and skillfully negotiated land acquisitions, joint development arrangements, leasing, and financing for various property types. Our experience also extends to complex projects, such as redevelopments, slum rehabilitation, affordable housing, government leases, mega food parks, logistic parks, solar projects, and integrated townships, spanning across different states in India.

ELP offers a range of services in the real estate arena. Our diverse portfolio includes residential, commercial, industrial, hotel, tourism, and SEZs spaces, among others. With a strong track record, we have successfully undertaken due diligence, provided advisory services, and skillfully negotiated land acquisitions, joint development arrangements, leasing, and financing for various property types. Our experience also extends to complex projects, such as redevelopments, slum rehabilitation, affordable housing, government leases, mega food parks, logistic parks, solar projects, and integrated townships, spanning across different states in India.

ELP’s proficiency extends beyond transactional matters; we also offer comprehensive counsel on issues affecting foreign and domestic investments in the Indian real estate sector. Our team of experts provides insightful guidance on compliance with Real Estate Regulatory Authority (RERA) regulations, catering to developers, investors, and financing institutions across multiple states in India. We pride ourselves on being closely involved with our clients, providing support during the registration of various projects and collaborating with their technical and accounting teams when necessary. Moreover, ELP assists in drafting testamentary documents, family settlements, and business transfer agreements to ensure a smooth process for all stakeholders involved.

In addition to our transactional and advisory services, we have successfully handled contentious litigations involving land acquisitions, nationalization of mill lands, forest reservations, property taxes, enforcement of securities, partition suits, and inheritance disputes.

Services

Land Acquisition 

We specialize in offering expert guidance for comprehensive title searches and due diligence processes across multiple states in India. Our services extend to providing valuable assistance on obtaining statutory permissions and approvals, understanding zoning requirements, and outlining the timelines involved in each step. Additionally, we provide advisory services on structuring and drafting conveyance documents, stamp duty, registration fees, and other acquisition costs to ensure a smooth and transparent transaction.  

Project Development and Construction Contracts 

We assist clients with development contracts for various projects, such as joint development arrangements, redevelopments, slum rehabilitation schemes, industrial parks, logistic parks, and SEZs. Our team also handles drafting documents for unit sales/allotment, including agreement to sell, conveyance documents, lease documents, possession letters, and agreements with contractors, architects, and engineers. 

RERA Compliance Advisory 

We provide expert assistance in various aspects of RERA compliance for developers and promoters across India. Our services include advising on RERA compliances for project registrations in different states, guiding developers through specific instances related to their projects, and helping banks and financial institutions understand RERA requirements and waterfall mechanisms for ensuring project compliance. 

Due Diligence 

We offer efficient title search services through the offices of Sub-Registrar of Assurances, Revenue Authorities, and others, providing comprehensive title due diligence reports and certificates for properties located across various states in India, suitable for acquisitions, mortgages, and more. Additionally, our expertise extends to conducting due diligence on property-owning entities, ensuring a smooth process for acquisitions or investments involving such entities holding the subject properties. 

SPV Acquisitions and Investments 

ELP excels in providing comprehensive transaction advisory services for property acquisitions. Our expertise spans from crafting and advising on the initial stages of the process, such as Memoranda of Understanding/Term Sheets, to meticulously drafting and guiding clients through the intricate documentation of share transfer and investment agreements, ensuring a seamless and well-structured transaction journey. 

New Formats and Concepts in Real Estate Opportunities 

We offer advice on innovative formats and structures tailored for specific opportunities in infrastructure, spiritual tourism, health & wellness centers, national footprints for star-rated hotels including single brand concessionaire of international brands in the real estate space. 

Leasing Transactions 

Our team conducts comprehensive title searches and verifies property titles to ensure a smooth and secure transaction process. We excel in drafting meticulous lease documents and leave and license agreements, safeguarding the interests of all parties involved. Additionally, we provide expert guidance on stamp duty and registration matters, facilitating seamless compliance with legal requirements. 

Transactional Assistance  

Our real estate team collaborates closely with ELP’s tax, corporate, and litigation experts to provide our clients with a seamless and comprehensive experience.  Where tax is concerned, we the tax angle, we assist with tax –efficient investment structuring including offering strategic advice on GST related issues.  

Additionally, our corporate and funds team assist with fund structuring, formation, deployment, and exit strategies, ensuring our clients receive excellent advice throughout their investment journey.  

Thought Leadership

News & Media 18th Nov 2024

Realty insolvency reforms to push for streamlined solutions for homebuyers, lenders

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News & Media 25th Jul 2024

Removal of Indexation Benefit: Homeowners Who Acquired Properties After 2001 May End Up Paying Higher Taxes

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Newsletter/Booklets 23rd Jul 2024

Union Budget 2024-25 – An Analysis by Economic Laws Practice

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News & Media 6th May 2024

Aggrieved home buyer: Should you file a case in RERA or civil court, which works better for you?

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News & Media 22nd Apr 2024

Refund of flat booking amount: Homebuyer fights Godrej Properties and wins the case; Know your rights under RERA

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News & Media 3rd Apr 2024

Riding the waves of change: Challenges in the real estate sector post-GST implementation

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Newsletter/Booklets 1st Feb 2024

Budget Bulletin – Real Estate

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News & Media 22nd Dec 2023

Last date to file court case to claim share in property by legal heirs

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Recent Matters

Real Estate

Advised a leading global technology company in acquisition of land for setting up data centres across India.

Advised a leading global technology company in acquisition of land for setting up data centres across India.
Real Estate

Advised a leading software company in acquisition of land and setting up an IT/ITeS park.

Advised a leading software company in acquisition of land and setting up an IT/ITeS park.
Real Estate

Acted for Chalet Hotels Limited for the lease of land at Terminal 3, Indira Gandhi International Airport, New Delhi for...
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Acted for Chalet Hotels Limited for the lease of land at Terminal 3, Indira Gandhi International Airport, New Delhi for a built-to-suit hotel structure.
Real Estate

Assisted Uniqlo India on due diligence and its leave and license agreement for setting up its first store in Mumbai.

Assisted Uniqlo India on due diligence and its leave and license agreement for setting up its first store in Mumbai.
Real Estate

Assisted a US based food company in acquisition of land for setting up a factory in Himachal Pradesh.

Assisted a US based food company in acquisition of land for setting up a factory in Himachal Pradesh.
Real Estate

Assisted a real estate division of a large conglomerate for acquisition of various parcels of land across Maharashtra for setting...
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Assisted a real estate division of a large conglomerate for acquisition of various parcels of land across Maharashtra for setting up residential complexes.
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People

Recognitions

What People Say

Precise and to the point advisory services. Good and up to date knowledge of laws and market practice.

IFLR 1000

Negotiations are smooth while these individuals are on call with the counterparties and they make sure that our intent and interests are captured in the documents. Also they are one firm which we have seen are able to cater to our needs across all states in India.

IFLR 1000

The team at ELP is well prepared with the contents of the case, makes it a point to thoroughly read and use all the documents and discuss strategy openly with clients.

Legal 500

I have found the team at ELP for Real Estate & Construction to be excellent. Some key strengths are that the team is reliable, well prepared and attuned to my needs as a client.

Legal 500

Economic Laws Practice has expertise in real estate matters.

Legal500 Asia Pacific

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.

Legal500 Asia Pacific

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