Real Estate
IndusLaw in Mumbai
Juris Corp in Mumbai
India Law Alliance in Mumbai
For a list of select transactions, please contact the individual lawyer
University of Mumbai, (LL.B., 2008)
India, 2008
Incentives and Laws for Data Centers in Maharashtra
The state of Maharashtra has taken initiatives in establishing policies to promote the expansion of data center industry. The Maharashtra Government last year approved the establishment of green integrated data center parks with an expected investment of INR 1,600 billion in order to strengthen the states’ digital infrastructure. As the state rolls out the carpet for multinational companies and conglomerates to set up data centers, it is vital for the prospective investors to be aware of (i) steps/local laws and regulations involved in acquisition of land for setting up data centers and (ii) various incentives introduced by the Maharashtra Government as regards acquiring land for data centers. This note analyzes the policies introduced by the Maharashtra Government with a particular focus on acquisition of land for data centers.
Clarification on Exemption from Project Registration and Interpretation of Commencement and Completion Certificate
Maharashtra Real Estate Regulatory Authority (“MahaRERA”) earlier had already issued clarification regarding projects which are exempted from getting registered under the Real Estate (Regulation and Development) Act, 2016 and what denotes a commencement certificate and completion certificate in plotted real estate projects vide circulars and orders. However, there was still some ambiguity regarding interpretation of these issues. Therefore, in order to ensure ease of reference and harmonious construction as well as to cure the anomaly, MahaRERA decided that these issues covered under various circulars/orders be merged and incorporated in a consolidated order and hence issued the present order i.e. Order No.62/2024.
Forfeiture of Advance Payments by Developers
Section 19(6) of The Real Estate (Regulation and Development) Act 2016 (“Act/RERA”) casts an obligation on an allottee to make timely payment of instalments as per the payment schedule mentioned in the registered agreement for sale. What happens when an allottee fails to comply with this obligation?
This note scrutinizes the order passed by Maharashtra Real Estate Appellate Tribunal and talks about the remedies available to a developer in case an allottee defaults in making timely payment of the sale consideration. It also analyzes the position pre and post RERA regime and dives into the concept of earnest money and liquidated damages in terms of the agreement for sale.