Question 1

When must a real-estate project be registered under RERA?

Accepted Answer

Any project where the land exceeds 500 square metres or has more than eight units (thresholds vary slightly by state) must be registered with the state RERA before marketing or sale, with quarterly progress disclosures and 70% of buyer collections kept in a separate project account.

Question 2

How is a Joint Development Agreement (JDA) taxed?

Accepted Answer

Under section 45(5A), for individual/HUF landowners the capital gain on a JDA is deferred to the year the completion certificate is issued, with stamp-duty value of the share received plus cash as consideration. GST and the developer's tax treatment differ — we structure the JDA to manage both sides.

Question 3

What is the difference between a REIT and an InvIT?

Accepted Answer

A REIT holds income-generating real estate; an InvIT holds infrastructure assets such as roads, transmission or pipelines. Both are SEBI-regulated trusts that pool investor capital, must distribute at least 90% of net distributable cash flows, and have specific listing, valuation and audit requirements.

Question 4

What is lender's / project-finance advisory?

Accepted Answer

We support lenders and sponsors with techno-economic appraisal review, financial-model validation, drawdown certification, end-use and capex monitoring, and periodic monitoring reports through the construction and ramp-up phases — protecting the lender and keeping the project bankable.

Question 5

How is GST applied to under-construction property?

Accepted Answer

Sale of under-construction residential units attracts GST (1% for affordable, 5% for other residential, without input tax credit, on the prescribed value), while ready-to-move-in property with a completion certificate is outside GST. Commercial and mixed-use have their own rates — we map the correct treatment per project.

Question 6

Can a real-estate fund be set up as an AIF?

Accepted Answer

Yes. Real-estate funds are commonly structured as Category II AIFs, giving a regulated, pass-through vehicle to pool capital for development or rent-yielding assets. We handle the SEBI registration, structuring, valuation and audit, drawing on our dedicated AIF practice.

Real Estate, REIT & Infrastructure

Real Estate, REIT & Infrastructure services

RERA & Compliance

REIT / InvIT

Project Finance

Real Estate Tax & Transactions

RERA Compliance

Infrastructure & Energy

Selected real estate, reit & infrastructure engagements

Real Estate, REIT & Infrastructure — frequently asked questions

Related practices

Industries we serve here

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