With the advent of commercialization, the nature and scope of real estate has expanded in India in the last decade. This led to a requirement for protection of interests of various stakeholders involved, increased accountability from developers, and ultimately to the enactment of the Real Estate (Regulation and Development) Act, 2016 (“RERA”).
Aureus has a strong team of lawyers who have considerable knowledge and experience in real estate litigation and advisory. We have advised developers, banks, investments companies with respect to real estate projects. Our team have collaborations and relationships on a Pan-India level which enables them to obtain unperturbed local help in any part of the country.
We have been involved in diversified real estate transactions including land acquisitions for various projects and townships, handling all aspects of a real estate transaction - right from giving reports on title, to advising on structures, drafting documents, etc. We also advise clients on structuring real estate transactions including advisory on investments and project funding, land aggregations, acquisitions, joint ventures/collaboration, stamp duty implications, and preparation of all documents, agreements associated with the real estate transactions and end-to end support in relation to compliances and litigation under RERA.
We provide end-to-end services in areas as follows:
- Pre-Project consultation;
- Contract drafting (amongst promoters, JDA, allottee agreement, allotment / cancellation letters etc.);
- Assistance with regard to project finance;
- Project Registration;
- Quarterly Compliances;
- Submission of Chartered Accountant Report stipulating the amount received and the project development cost incurred by the promoter;
- Submission of Engineer Report mentioning the progress of the project;
- Details of sale/cancellation of the plots/apartments/houses etc.;
- Details of bookings;
- Submission of project update – latest pictures of Project progress along with necessary amenities;
- Compliances with regard to project extension, modification, advertisement, new compliances as introduced by RERA time to time;
- Departmental assistance with regard to notices/queries sent by RERA time to time;
- Handling litigation before Adjudicating Officer, RERA and Real Estate Appellate Tribunal (allottees issues, project issues, agent issues);
- Recovery from allottees;
- Project completion compliances and litigation;
- Any other assistance qua RERA.