Annual audit, account and project update
Real-estate transactions and disputes in India are governed by the Real Estate (Regulation and Development) Act 2016 (RERA), the Transfer of Property Act 1882, the Registration Act 1908, the Indian Stamp Act 1899 (and state amendments), the Specific Relief Act 1963, and, for construction contracts, the Indian Contract Act 1872 and the Arbitration and Conciliation Act 1996. RERA requires every real-estate project above the threshold to be registered with the state Real Estate Regulatory Authority, and every agent to hold a RERA registration. Builders must maintain a separate escrow account for each project and comply with disclosure and completion-timeline obligations. AMLEGALS advises developers, landowners, investors and homebuyers on transactions, regulatory compliance and disputes.
Disputes arise from delayed possession, deficient construction, title defects, co-development and joint-venture disagreements, and regulatory proceedings before RERA and the Appellate Tribunal. Homebuyers may also proceed under the Consumer Protection Act 2019 or the IBC 2016 (under the amendment treating allottees as financial creditors). AMLEGALS represents parties before the RERA Authority, the RERA Appellate Tribunal, the NCDRC and the NCLT.
Advising developers on the regulatory requirements for project registration and agent registration, escrow-account obligations, quarterly updates and disclosure requirements under RERA.
Conducting title searches, verifying the chain of title, identifying encumbrances and advising on title-insurance and title-curing measures.
Drafting and reviewing sale agreements, lease deeds, development agreements, joint-development agreements, conveyance deeds and construction contracts.
Representing developers, homebuyers and allottees before the RERA Authority, the RERA Appellate Tribunal, the NCDRC and the High Court.
Advising on delay, defect and variation claims in construction and EPC contracts, and representing parties in arbitration and adjudication.
Advising on land-acquisition proceedings under the RFCTLARR Act 2013, environmental clearances, conversion of land use and FSI and TDR regulations.
Under RERA, registration is mandatory for every project where the land area exceeds 500 square metres or where more than eight apartments are proposed. Projects that have received a completion certificate before the commencement of RERA are exempt. State rules may prescribe additional or varied thresholds.
A homebuyer may file a complaint before the RERA Authority for delay, defect or non-compliance by the promoter. Alternatively, a complaint may be filed under the Consumer Protection Act 2019 before the consumer forum. The Supreme Court in Imperia Structures v. Anil Patni (2020) held that the remedies are concurrent and the homebuyer may choose the forum.
A complaint for defects in construction or deficient services under RERA must be filed within one year from the date of taking possession or within five years for structural defects. For delay in handing over possession, the limitation period runs from the agreed date of delivery as stated in the agreement for sale.
Yes. The Insolvency and Bankruptcy Code (Second Amendment) Act 2020 treats amounts raised from allottees under a real-estate project as financial debt, and allottees are financial creditors entitled to participate in the committee of creditors.
No. No engagement is treated as accepted until conflicts, scope and terms are confirmed in writing. An initial discussion is confidential and is used only to understand the matter and assess fit.
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