The Securities and Exchange Board of India (SEBI) has introduced certain amendments to the regulatory framework for real estate investment trusts (REITs) in 2025. These amendments primarily focus on ease of doing business and investor protection. This note provides an overview of the 2025 amendments.
India’s ambitious climate and clean energy targets are redefining the investment landscape for renewables and electric vehicles. As international and domestic players intensify their focus on these sectors, one of the most critical determinants of project viability is land.While dedicatedrenewable energy (“RE”)parks and/or designated zones with pre-acquired land and transmission infrastructure may help in streamlining project development, developers must still account for project-specific environmental clearances, construction permissions, and proximity to substations or transmission corridors.
With respect to solar and wind energy projects, as well as green hydrogen, significant land, real estate, and related infrastructural resources may be necessary, with site selection being one of the most critical early-stage considerations. Existing land-related challenges in India’s RE and green hydrogen sector involve availability, cost, and access issues, particularly for large-scale deployments, including on account of land conflicts, user restriction and domestic population density.
In general, securing/ acquiring land in India involves a complex matrix of legal, regulatory, and socioeconomic factors, including on account of varying ownership patterns across states, and issues such as fragmented titles, complicated land revenue systems, complex tenancy rights, litigation, and opposition from local communities.For energy companies, ‘clean tech’ and sovereign wealth funds, as well as infrastructure investors, the challenge lies in balancing legal certainty with commercial agility and social license.
We are pleased to present the second issue of S&R’s Quarterly RERA Roundup for the period January to March 2025. This publication provides a curated overview of significant legal developments under the Real Estate (Regulation and Development) Act, 2016 (“RERA”), as reflected in recent judgments and passed by various Real Estate Regulatory Authorities and appellate forums/courts across India.
As the regulatory landscape continues to evolve, these decisions offer valuable insight into the interpretative trends shaping the enforcement of RERA. This edition aims to serve as a practical guide for stakeholders seeking to understand the Act’s application in an increasingly dynamic real estate sector.
This note provides a comprehensive overview of the legal framework and processes guiding the redevelopment of cooperative housing societies in Maharashtra, with particular focus on Mumbai. It covers essential compliances under the Maharashtra Co-operative Societies Act, 1960, special focus on recent judicial orders on aspects of inter alia documentation, stamp duty, and the position of dissenting members, as well as the interplay of regulations like DCPR 2034 and MahaRERA. Offering practical insights for societies, developers, and legal professionals, the note aims to demystify the procedural, contractual, and fiscal challenges in society redevelopment projects.
The Environment (Construction and Demolition) Waste Management Rules, 2025 (“Construction Waste Rules”) have been recently notified as a response to growing concerns about construction dust pollution from projects across India. The Construction Waste Rules set out an integrated framework for waste management as well as utilization by imposing extended producer responsibility aided by a central interface based online monitoring and compliance assessment. This note analyzes certain key provisions in the Construction Waste Rules, especially from the perspective of infrastructure and real estate developers and contractors, including considerations for risk allocation.
In March 2024, the Securities and Exchange Board of India (“SEBI”) amended the SEBI (Real Estate Investment Trusts) Regulations, 2014, to introduce Small and Medium Real Estate Investment Trusts (“SM REITs”), aiming to regulate fractional ownership platforms (“FOPs”) that offer retail investors access to real estate. This move addresses concerns related to investor protection, regulatory gaps, and operational transparency in FOPs. SM REITs are structured as SEBI-registered trusts and are required to comply with specific eligibility, investment, and governance criteria. This note outlines procedures for registration, scheme launches, and investor safeguards intended to enhance investor confidence, market liquidity, and standardized practices in India’s evolving real estate sector.
Public-Private Partnerships (“PPPs”) play a crucial role in India’s urban redevelopment by leveraging government support and private sector efficiency. Maharashtra, especially Mumbai, leads with initiatives like the Slum Rehabilitation Scheme (“SRS”), while CIDCO in Navi Mumbai streamlines approvals for faster execution. Despite challenges like resident consent and financing, PPPs drive sustainable development through strategic risk-sharing, community engagement, and efficient project management. This note explores how PPPs play a vital role in India’s urban redevelopment, particularly in Mumbai, while examining the current challenges and opportunities in PPP-driven redevelopment.
This Quarterly Roundup pertains to cases related to Real Estate Regulation Act, 2016 (“Act/RERA”) for the period between October and December 2024. Issue 1 sets out a compilation of selected judgements, orders and circulars for the covered period, highlighting recent legal developments influenced by the continuous changes in the real estate sector. These decisions reflect the perspective of the Real Estate Regulatory Authorities, essential for the interpretation of the Act and shaping the legal framework. This compilation of judgments and orders serves as an essential guide to understanding the implications of RERA’s evolving framework.
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.
As of December 2024, insolvencies in the real estate sector accounted for approximately 22% of admitted cases under the Insolvency and Bankruptcy Code, 2016 (“IBC”), making it second only to the manufacturing sector that accounted for 37% of admitted cases. The high volume of insolvencies in the real estate sector, the imperative to protect homebuyer interests and specific challenges faced by this sector have resulted in several amendments focused specifically on the insolvency process for real estate projects. Recently, the Insolvency and Bankruptcy Board of India (“IBBI”) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2025 (“2025 Amendments”) amending certain provisions of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”), which once again have a special focus on the corporate insolvency resolution process (“CIRP”) of real estate developers. This note discusses the 2025 Amendments and their likely impact on streamlining the resolution process and protecting homebuyer interests.
S&R Associates is pleased to announce the opening of its office in Bengaluru:
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