GNP Legal has one of the most diverse real estate practices in the country and we actively offer a wide range of legal services to our clients in relation to Indian real estate laws to structure, negotiate, document and close complex real estate transactions. Lawyers dedicated to our real estate practice are well versed with the business complexities of real estate transactions. GNP Legal has been involved in diverse real estate transactions which may range from preparation of standard lease arrangements to preparing documentation for large-scale construction/development projects (including joint development ventures), build to suit leases etc.
We at GNP Legal believe in expressly addressing specific requirements of our clients giving due regard to the distinct business and legal considerations involved in a real estate transaction, so as to protect the business interests of our clients from a legal, practical and commercial standpoint.
AREAS OF WORK
The following is a brief description of some of the areas of work undertaken by GNP Legal, as part of its real estate practice:
- Due Diligence
GNP regularly undertakes detailed real estate due diligence for its clients having business presence in India. The nature of properties typically includes agricultural, commercial, industrial, institutional and units in Special Economic Zones. The scope of work inter alia includes:
- inspection of records maintained by the Sub-registrar of Assurances to verify the title of the current owner, going back to every exchange of hand over last 20-30 years.
- Review of various licenses, permissions etc. (as may be applicable) including but not limited to environment clearances, change in land use, fire NOC, height clearance, sewage, drainage and waste management permits, permits to store inflammable/hazardous substances, license to operate lifts, license to run DG sets etc.
- Development permissions and building permits such as zoning certificate, sanctioned building plans, floor plans, occupancy/completion certificates and compliance with local building bye-laws.
- Property tax payments.
- Litigation search to check for any existing litigation involving the property in question.
- Encumbrance check to confirm if there exists a charge on the property and to ensure that the terms of such charge does not have an adverse bearing on the use of the property by the client.
- Lease Agreements
GNP Legal prepare and negotiate various forms of tenancy agreements, for use and occupation of properties by our clients, mainly for commercial, industrial and institutional purposes. We regularly prepare lease documentation for ‘built to suit’ properties involving large scale leasehold acquisition. Other than above stated, we also regularly prepare and negotiate lease deeds, business center agreements and leave and license agreements for properties intended to be used for office purposes by our clients.
- Ancillary Advice
We at GNP Legal regularly advise on ancillary issues, including but not limited to:
- foreign investment in real estate and related issues
- stamp duty and registration requirements
- recovery of possession / security deposits
- termination, renewal or assignment of leases
- compliance with town planning regulations, panchayat/ municipal or local building regulations, bye-laws
- requirements for setting up units in SEZ, IT/ITES/ STP (Software Technology Park) unit and compliances as per state policy/ regulations.
- sale transactions, including sale of buildings, apartments, land, etc.
- issues relating to property tax
- issues relating to supply of utilities, building management etc.
- litigation and arbitration support in relation to real estate disputes
** you may direct your queries at queries@gnplegal.com for clarification on any issue.