Regulatory
Real Estate Regulation and Development
The Real Estate (Regulation and Development) Act, 2016 (“Act”) has multiple implications on various stakeholders such as buyers of flats and office, builders, and promoters, construction contractors, etc.
Section 15 of the Act provides obligations and prior approval of the builders where there is any M&A event, provided there are already some allottees.
The Promoter shall obtain written consent from 2/3rd allottees, except the promoter, and written approval of the authority before transferring or assigning majority rights and liabilities in respect of a real estate project to a third party.
On the transfer/ assignment being permitted by the allottees and the authority, the intending promoter shall be required to independently comply with all the pending obligations and the obligations as per the agreement for sale entered into by the erstwhile promoter with the allottees.
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Exchange Control Laws
Having a complete knowledge & thorough clarity about the Companies Act, SEBI Regulations, Competition Law, Insolvency law, Real Estate laws (RERA), SEZ Rules, Transfer Taxes – specifically Stamp Duties, etc. help you achieve your business objectives in line with the applicable regulations. Our team partners with you in providing services like overall guidance, assistance in decision making, seeking necessary approvals, overall compliances, etc.
