Real estate sector is one of the most globally recognized sectors. It comprises of four sub sectors – housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the fourteen major sectors in terms of direct, indirect, and induced effects in all sectors of the economy.
In India, the real estate sector is the second-highest employment generator, after the agriculture sector. Indian real estate sector has witnessed high growth in the recent times with rise in demand for office as well as residential spaces.
The Real Estate Regulatory and Authority (RERA) Act in March 2016 has been made in accordance to increasing complaints against the builders or promoters and the real estate agents. RERA is a government body whose sole purpose is to safeguard the interest of buyers as well as lay a path so that the promoters and the real estate agents get a chance to come up with good services. We feel that implementation of RERA across country is highly pro-consumer and pro-industry initiative and if implemented in letter and spirit, shall bring transparency and positive change in the Real Estate Industry in the country.
Advisory Services
Designing customize dynamic financial modelling for complex real estate transaction like revenue/profit sharing, area sharing arrangement, project management consultancy arrangement etc. entered by stakeholders
Developing detailed sales plan and cash inflow for precise fund requirement at various stage of real estate project.
Advice on Joint Development Agreement and Development Management Agreement
Holistic advice on applicability of Income tax, GST, RERA Law, stamp duty on real estate project and specific real estate transaction.
Review and advice on contract and subcontract agreement for construction activity
Tax and financial due diligence
Compliance and Regulatory Services
- Project Registration under the act, ensuring compliances.
- Ensuring preparation and maintenance of books, accounts, documents, and records as per the Act.
- Setup of Finance and Accounting operations under RERA
- Issuing certificate of withdrawal for Specific Bank Account under RERA.
- Filing Quarterly update with RERA.
- Audit Compliance under RERA.
Tax representation and litigation services
Representation and litigation in India require a comprehensive approach involving people with adequate understanding of laws and insightful handling of contentious issues. Our services in this area include:
- Representation before the Appellate Tribunal or the Regulatory Authority or the adjudicating officer
- Drafting of Reply to show cause notice; appeal etc
- Advisory on litigation strategy and its implementation
