Collaborate, Acquire
or Exit
Consult with our experienced team for all your real estate project transfers and takeovers.
Local Expertise Across Southern India
Transfer & Takeover of Real Estate
Projects under RERA
01/03
Switching of developers or taking over a stalled project? We ensure a smooth transition with all legal aspects covered.
02/03
What You Need to Know?
Common Triggers
Financial irregularities or constraints, IBC / NCLT regulations, or the lender investor mandates are the key triggers for many promoters look to exiting, collaborate or partnering opportunities.
Key Laws impacting project Transfers
Some for the foremost laws effecting project transfers are due to the stringent requirement by Property Laws, Income Tax Act, GST, RERA, Customer & Vendor contracts among others.
Increased Regulation & Transparency
To enforce best practices and increase customer transparency, RERA act has been impacting consolidation by way of transfer & takeover of projects across the real estate market staying true to the goal of the act to provide an organized and structured real estate market.
03/03
Our 4-Step Registration Process
Free Expert Consultation
Document Preparation
Accurate Application Filing
Fast Approval & Certification
Key Takeaways for Developers
Section 15 of RERA makes it mandatory to secure consent and approvals before transferring majority rights and liabilities of a project. Some state authorities like MahaRERA and KRERA have also issued circulars prescribing the procedure for such takeovers.
-
Prior written consent of
2/3rd of allottees - Prior written approval from the respective state’s RERA Authority
- Applications should be submitted only in the prescribed formats
- List of complaints before the authority or pending litigations, court orders etc
- CA certificates on financials of the project including money collected from customers, utilization etc.
- Professional certificates from Architects, Engineers, Cas endorsing the status of the real estate project
Don’t Let Regulations Delay Your Project Launch.
Let our experienced team handle your RERA registration while you focus on building your real estate brand and execute a faster go-to-market plan.
All your questions answered
The list can be lengthy, but a basic checklist includes affidavits and declarations from both outgoing & incoming promoters, financial & legal status reports, project clearances and certificates from various bodies to mention a few.
The process involves compliance with multiple enforcement agencies (Property law, GST, Income Tax, RERA etc.). Error or delays in documentation can result in rejection, penalties and most importantly litigation.