Property & Real Estate

Anuja Kedia

+91 22 42410110

anuja.kedia@parinamlaw.com

Mumbai, India

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Hitesh Jain

+91 22 4241 0005

hitesh.jain@parinamlaw.com

Mumbai, India

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Subhash Jadhav

+91 22 42410008

subash.jadhav@parinamlaw.com

Mumbai, India

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Pooja U Tidke

+91 22 42410007

pooja.tidke@parinamlaw.com

Mumbai, India

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Monisha Mane

+91 22 4241 0013

monisha.mane@parinamlaw.com

Mumbai, India

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Overview

The firm’s real estate practice includes special emphasis on complex real estate transactions, title due diligence, development / redevelopment matters, transactions for purchase, sale, leasing and licensing of immovable properties, dealing with various government agencies and departments including MCGM, MHADA, MIDC, etc. and advisory relating to the aforesaid. We have consistently been able to provide our clients with strategic advice, hand-holding, and legal services in relation to real-estate projects, as well as represent and advise them in the litigation (civil and criminal), arbitration, and corporate aspects arising out of their real estate portfolios and transactions.

Indicative Experience

Development/ Re-development
  • Advising a leading developer on its redevelopment project in Mahim, Mumbai. We have provided end to end support to the developer in this project. Our role involved undertaking title diligence of the land and existing structure proposed to be redeveloped, negotiating on behalf of the developer with the land owners and the existing tenants, obtaining consents from tenants and preparing necessary documentation such as agreement for redevelopment, permanent alternate accommodation agreement, consent forms, powers of attorney, memorandum of understanding and other ancillary documents.Advising a Pune based real estate developer looking to enter the Mumbai market on redevelopment transactions with respect to properties based in Tardeo and Kalbadevi areas of South Mumbai. We have for both transactions dealt with landlord societies. In this behalf, we have prepared the entire set of documentation required for giving effect to the re-development, including but not limited to agreements for temporary alternate accommodation, agreements for permanent alternate accommodation, memoranda of understanding, development agreements, agreements for sale in respect of the free sale component and other ancillary documents.
  • Advising a leading real estate developer, on a retainer basis, in respect of their legal requirements for their real estate portfolio, including but not limited to preparing of detailed documentation, construction-related contracts, advisory arising out of disputes with societies, individual flat purchasers, co-developers and government authorities.
  • Advising a society and its members in respect of the sale of the society’s land and the flats of the members to a renowned developer. For this purpose, we have assisted our client in preparation of the tender document for inviting bids for purchase of the society’s land and have assisted the society as well as its members in facilitating such sale.
  • Advising a boutique developer group on their redevelopment projects in Vile Parle and Andheri. In this behalf, we have assisted the client in dealing with the tenant societies, responding to tender documents, draft, finalizing, execution and registration of development agreement and power of attorney with the relevant society, execution of alternate accommodation agreements with the society members.
  • Advising a leading developer on registration of their project in central Mumbai with MAHARERA. We have assisted the client in preparing draft formats of the allotment letter and agreements for sale after taking into account the provisions of the Real Estate (Regulation and Development) Act, 2016 and assisted them with ancillary documents required for registration of the project with the RERA authorities.
  • Advising a Mumbai based developer on RERA compliance with respect to their on-going projects in Navi Mumbai. We routinely advice the client on issues with prospective purchases, interest payment on delayed payments from such purchasers, registration of prospective agreements for sale, allotment letters and other ancillary documentation.
  • Advising and representing a high net-worth individual in the sale of his business, including land at Sangli, the industrial units standing thereon with the plant, machinery and equipment used in the business. We have, as a part of our mandate, prepared and negotiated the share purchase agreement, agreements for sale of moveable assets, sale deeds as well as all other ancillary documentation for the transaction.
  • Advising and representing an industrialist in its investment in an upcoming high-end villa project comprising luxurious wellness and retreat facilities being developed at Alibaug. We have assisted the client with advising on structure and possible means by which the investment could be made as well as vetting and finalising requisite transaction documents. We have also assisted the client with preparation of base drafts of the letter of allotment, agreement for sale, maintenance agreement and other ancillary documents to be signed by the promoter with the incoming purchasers.
  • Advising a leading developer in acquisition of land and implementation of luxury villa project in Lonavala, Maharashtra. We were involved from the stage of acquisition of land up until handover of villas to the society and receipt of occupation certificate and as a part of our scope of work have undertaken title diligence, clearing of title defects, preparation of development agreements, agreements for sale of villas and even formation of society.
  • Advising and assisting a client on acquisition of a 2000 acres land parcel in Goa for the purposes of development of an ecologically sustainable township project. Our role involved conducting title diligence of the concerned land parcels.
  • Advising a leading industrialist in acquisition of a bungalow in South Mumbai through the debt recovery tribunal. We have provided assistance to the client on diverse aspects of the transaction starting from the process of sale under the provisions of SARFAESI Act, negotiations and dealings with the concerned bank, documentation pertaining to purchase of the property, removal of charge and issuance of sale certificate in favour of our client.
  • Assisted a client in signing certain deals with a leading company engaged in the business of co-working space in respect of premises admeasuring in the aggregate approximately 2 lakh square feet in its assets at Mumbai and Bangalore. The firm assisted the client with structuring the transaction, preparation of the business conducting agreement, negotiating the same with the incoming business operator, and other general advisory.
  • Advising and representing a reputed group during its process for seeking internal restructuring of business and assets, including advising and opining on the formal demerger of an undertaking / section of the parent entity containing certain real estate assets, advising on the title, development potential and other aspects of such real estate assets. We have, as a part of our mandate, given detailed advisory relating to various options and structures for effecting the aforesaid division / demerger and have issued an opinion to the client in the matter, after taking into consideration the detailed queries concerning the same which take into account the relevant provisions of the Companies Act 2013, the Limited Liability Partnership Act 2008, Real Estate (Regulation and Development) Act 2016 and other applicable laws.
  • Advising a leading developer and land owner in respect of their land holdings in Goa, including carrying out detailed vetting of title for such lands, advising on issues such as private forests, zoning & reservations, urban land ceiling regulations, coastal zone regulations and also facilitated liaising with the local authorities. We have, as a part of our mandate, advised and represented the client in their transactions for these properties, dealing with forest reservation, including the definitive documentation and negotiations for the same.
  • Advised a leading developer with its proposed acquisition of approximately 118 acres of land comprising about 210 survey numbers at village Khubavali, Pune. We have, as part of our scope of work, carried out investigation of the proposed vendor’s title to the land, including aspects relating to the user of the land (both agricultural and non-agricultural), class of holding, fragmentation, watandari rights, land ceiling, tenancy, disputes, reservations and other restrictions affecting the transfer and / or development affecting the land. The firm assisted the client with preparation of reports on title.
  • Represented a leading pharmaceutical company in its proposed acquisition of immoveable assets for its expansion and office use. We have, as a part of our role in the matter, carried out a detailed due diligence in respect of the immoveable properties including land and structures thereon sought to be acquired, advised the client on various complex issues arising from the title of the land including issues concerning the predecessors in-title of the present vendors.
  • Advising and representing a leading real estate developer desirous of listing its real estate portfolio on the stock market, including preparing and issuing of reports on title for each of the immoveable assets / parks belonging to the developer in accordance with the rules and guidelines stipulated under the SEBI (Real Estate Investment Trusts) Regulations, 2014. We have, as a part of this process, advised the clients and dealt with various concerns / issues affecting the properties under investigation of title, including issues relating to grants of land by the MIDC, Inam Watan holdings, sick textile units, urban land ceiling regulations, reservations, litigations & encumbrances, and have also assisted the client in carrying out a risk assessment for each asset and advised the clients on the steps and action required to be taken thereafter, for dealing with the outstanding issues.
  • Advising and representing, on a retainership basis, a leading REIT for the purpose of leasing its commercial and retail assets of approximately 8.8 million square feet in various Grade A buildings across India, including premises within Special Economic Zones, IT / ITeS Parks as well as parks constructed on lands granted on lease by government authorities such as the Collector, MIDC and Noida authority. our roles involves preparing, negotiating and finalising letters of intent, agreements to lease, lease deeds, leave and license agreements, deeds of addendum, deeds of surrender, cancellation deeds and other ancillary documents in respect to the properties held by a leading REIT across various cities such as Mumbai, Pune, Bangalore and Noida.

Work Highlights

Parinam undertakes conversion of land at Nariman Point, Mumbai

Parinam advises HNI to acquire a duplex apartment in Malabar Hill, Mumbai

Parinam advises on Documentation for Tenders

Parinam successfully challenged an order of stay in eviction proceedings before the Bombay High Court

Parinam advised M/s Celir LLP in contempt proceedings before the Supreme Court of India which upheld the sanctity of the auction process under the SARFAESI Act and issued directions against third-parties.

Advisory and leasing services for a Japanese food franchisee
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Articles, Updates & Publications

Mhada’s Clean-Up Drive

Amnesty Scheme: The Maharashtra Stamp Duty Abhay Yojana 2023 – Parinam Law Associates

BMC Circular For Online Process By The Estate Department – Parinam Law Associates

Amendment to Maharashtra Apartment Ownership Act, 1970 – Parinam Law Associates

A Guiding Light On Section 57 Of The Transfer Of Property Act, 1882 By The Kerala High Court – Parinam Law Associates

Unveiling The Law Of Adverse Possession In India By The Supreme Court
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News & Media

The burgeoning online gaming industry presents a unique challenge for policymakers”: Hitesh Jain, managing partner, Parinam Law, ET LegalWorld

Court discharges actor-businessman Sachin Joshi in money laundering case | Mumbai News – Times of India

Non-Fungible Tokens (NFTs), in recent times have gained tremendous amount of attention which has been parallel with the evolution of the field of cryptocurrencies.

Kapil Sibal is wrong — judiciary’s independence is not under threat | The Indian Express

Supreme Court grants bail to ex-Mumbai cop Pradeep Sharma in 2021 bomb scare, murder case | India News

Twitter’s rebranding as X will face trademark issues globally, ET LegalWorld
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