The real estate sector is one of the most well–known in the globe. This industry has four subsectors: housing, retail, hospitality, and business. The construction industry, which includes the direct, indirect, and induced sectors of the economy, is ranked third among the 14 major industries. It is predicted that India’s real estate market would increase from US$ 200 billion in 2021 to US$ 1 trillion in 2030 and represent 13% of GDP by 2025. Retail, hospitality, and commercial real estate are all experiencing significant expansion as well. These sectors are crucial to India’s rising need for infrastructure
Indian real estate is affected and governed by a combination of State–specific and Central laws. Some of the vital laws that regulate the ever–rising Indian real estate include the Real Estate (Regulation and Development) Act, 2016 (RERA), the Transfer of Property Act, of 1882, and the
Registration Act, of 1908. The constant developments in this industry demand an extremely cautious approach while executing any transaction. Developers, builders, consultants, contractors, buyers of apartments, and other interested parties are all represented by the firm. Additionally, advice is provided on all facets of strategic planning, real estate conflicts, and
- The Firm has a robust real estate practice that handles real estate disputes all across the country representing owners, lessees/licensees, lenders, borrowers, real estate agents, developers, investors, funds, etc.
- Conducting due diligence
- Vetting, conveyance, drafting and interpretation of various types of contracts/agreements
- analyzing and verifying title deeds
- conducting title search/title investigation of properties
- Handling legal aspects of project approval, housing loans, loans against property, and securitization
- Ensuring compliance with the regulations for the sale and purchase of properties
- Advising on tax optimization
- Stamp duty and registration support
- Assisting in the development of Townships, the creation of Special Economic Zones (SEZ)
- Appearance before the RERA
In order to solve their challenges in the face of volatility and a dynamic legal and regulatory environment, developers, financiers, institutions, and investors must use cutting–edge methods. These plans must take into account both the company’s short– and long–term business goals. The lawyers are knowledgeable in all facets of real estate development, sales, planning, structuring, acquisitions, leases, and security requirements involved in financial transactions. We combine our commercial practice with a robust litigation practice, where we analyze the issues and provide clients strategic guidance on how to move forward based on the situation.
The team also is well–versed in dispute resolution, such as litigation and arbitration in both domestic and international forums, as well as various kinds of ADR and related legal services. Whether our clients want to buy or sell real estate, make investments or provide debt financing, raise money or use any other type of funding, set up a tax–efficient investment vehicle, carry our a development project, or assert their legal rights in court, we collaborate with client’s internal team to protect the reputation of the business and its financial objectives
Even though it is not required by law, the buyer's vigilance is crucial to becoming a bona fide purchaser. Some of the important documents which need to be checked are:
- A Completion Certificate (CC) is issued by local authorities when a project is finished.
- A local government agency will then issue an occupancy certificate (OC) after it is judged fit for habitation.
- The site plan contains a project plan, including living quarters and utility arrangements.
- The sub-office registrar where the property is registered is where one may receive an encumbrance certificate. It states that the property has no outstanding debts, both financial and legal.
A stamp duty serves as documentation for each sale or acquisition done in real estate, that must be paid in full. Each state is responsible for levying its own stamp duty and hence, each state has different fees on Stamp Duties, except for a list of specific instruments where the Centre imposes stamp duty and also sets the rates for the same. The Stamp Duty has to be paid before the document's execution, on the day of the document's execution, or the next working day after that. The stamp duty is collected based on the property value at the time of registration. The amount of stamp duty varies by state as well as the age of the property—new or old.
The title is verified, and the title verification's findings are used to build a search report. In its simplest form, title verification is a procedure the results of which are briefly documented in a Search Report. You can be sure that you are investing in a legitimate property because the Title Search Report contains a historical record of the property's title and provides an accurate legal description of the property, including how it has been transacted over time and whether there are any risks involved in the transaction that could jeopardize the property's title.
Why Avobe Legal
In our journey towards excellence, we are committed to attract, finest solution. Avobe Legal’s reputation is owed to the exceptionally talented and dedicated professionals whose ideas drive the Firm forward.
As one of Rajasthan’s boutique law firm, we help our clients grow, innovate and thrive. For over a period of two years, we have built a reputation for our expertise, specialised solutions and the ability to think ahead. We find the most relevant and highly tailored solutions to our clients’ composite legal challenges.
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