TagReal Estate

Real Estate Regulatory Act and PPP Projects

[Deepak K. Thakur is a projects partner at a law firm and is based in Mumbai] The Real Estate (Regulation and Development Act 2016) (“RERA Act”) that took effect from May 1, 2017 seeks to provide a solution to many of the practical issues faced by the concerned stakeholders in the real estate industry. The RERA Act also contains consumer oriented provisions to protect their interests, with...

The Curious Case of Homebuyers under the Insolvency and Bankruptcy Code, 2016

[Manaswi Agarwal is an advocate based in Mumbai and Aayush Mitruka is an advocate based in New Delhi] One of the crucial issues which has emerged and is widely talked about under the Insolvency and Bankruptcy Code, 2016 (Code) relates to the interest of homebuyers under the Code. The jurisprudence developing around the Code does not adequately address their concerns, and therefore the law...

Towards a Conducive Framework for REITs – Recent SEBI Amendments

[The following guest post is contributed by Sumit Agrawal, Partner, Suvan Law Advisors and Arka Saha, a final year law Student from National Law University, Orissa. Views are personal] Although the capital and commodities market regulator, the Securities and Exchange Board of India (SEBI), had introduced Real Estate Investment Trusts (REITs) Regulations on September 26, 2014, REITs are yet to...

Update: Real Estate (Regulation and Development) Bill, 2016

[The following post is contributed by Bhushan Shah and Labdhi Shah from Mansukhlal Hiralal & Company. The views expressed herein are personal] Parliament of India has passed the much awaited Real Estate (Regulation and Development) Bill, 2016 (Regulation) in the ongoing Budget Session. The Regulation has been enacted with the intention of protecting buyers, bringing transparency and...

Indian REITs – Story So Far, Challenges and Expectations from Budget 2016

[This guest post is contributed by Yashesh Ashar and Swati Adukia.  They are tax professionals and specialize in mergers and acquisition tax. Please note that the views are personal] I.          Introduction The Securities and Exchange Board of India (“SEBI”) notified the SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”)...

Easing Investor Exit in the Construction Development Sector: A Loss for Domestic Infrastructure?

[The following guest post is contributed by Abhinav Kumar, who is a 5th Year, B. A. LL. B (Hons.) student at NLU, Jodhpur] The Department of Industrial Policy and Promotion (“DIPP”) issued Press Note 12 (“PN12”) in November, being the last of the 2015 series. Titled “Review of FDI policy on various sectors”, PN12 brought sweeping changes to the FDI regime pertaining to around 15 sectors...

Competition Law and the Curious Case Of Integrated Townships

[The following guest post is contributed by Sarthak Raizada, a 4th year law student at Dr. Ram Manohar Lohiya National Law University, Lucknow] The issue of relevant market for an anti-trust analysis has been the subject matter of considerable debate with respect to the real estate sector. The Competition Commission of India (“CCI”) has extensively dealt with the said issue in a plethora of...

Foreign owned or controlled companies: Is sharing of office infrastructure real estate business?

[The following guest post is contributed by Vinod Kothari of Vinod Kothari & Co.] If a company wholly or majorly owned by non residents allows group or subsidiary companies to share your photocopier, or server, or staff, are you engaged in “real estate business”? The question itself must have startled most: however, a purported clarification of the Department of Industrial Policy and...

The Introduction of Real Estate Investment Trusts (REITS) In India

[The following guest post is contributed by Dhanush. M, a 5th year student at the Jindal Global Law School] `Leverage without supporting cash flows could be the death knell for the real estate industry`. The present state of the Indian real estate industry could be a testament to this adage where the total net debt of the top ten real estate firms by market capitalisation stood at Rs...

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