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Abhilash Pillai

Partner in the real estate practice at the Bangalore office of Cyril Amarchand Mangaldas. Abhilash has experience in advising real estate funds, multi-national companies, lenders, borrowers, retailers, institutional and non-institutional real estate investors, developers and operators in a broad range of business arena.

His practice areas include advising on all aspects of investments into real estate projects, creation of security, sale and purchase of real properties, including commercial leasing, due diligence, structuring, negotiation and documentation of the transaction, drafting and negotiating agreements relating to sale, mortgage, loans, license, construction, services, agency & franchise, litigation and arbitration related to real properties, among many others and advising domestic and international corporate clients on their general legal requirements.

Abhilash has been recognized in 2014 by the Legal 500 Asia Pacific India Guide to Law Firms. He can be reached at abhilash.pillai@cyrilshroff.com

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Court-ordered sales: Original deal value to decide stamp duty

Summary: This blog explains a key judgement from the Karnataka High Court that clarifies stamp duty on court-directed sale deeds should be calculated on the original agreement price, not the current market value. This protects buyers from unfairly higher stamp duty due to litigation delays and provides much needed certainty and fairness for all parties involved in property transactions under specific performance decrees. Continue Reading Court-ordered sales: Original deal value to decide stamp duty

Unregistered Leases: Rights, Risks, and Remedies

Summary: Registering lease deeds removes ambiguity, provides legal certainty, and prevents disputes over implied renewal.  This protects both landlords and tenants, reduces litigation and promotes smoother tenancy transitions.  This blog explains the legal significance of registration of leases and guides readers on the risks of leaving leases unregistered, empowering them to make informed decisions and avoid unnecessary disputes. Continue Reading Unregistered Leases: Rights, Risks, and Remedies

In a key decision, the Karnataka High Court dealt with two connected writ petitions involving leading real estate developers[1], challenging the decision of the stamp and registration authorities in Karnataka. The key issue was whether stamp duty applies to super built-up areas and car parks when the sale deed refers only to an undivided land share. The decision clearly explains the legal position on dual ownership and how stamp duty must be calculated on such documents.Continue Reading Building Vs. Land: A Tale of Two Owners in Indian Property Law

Optimal locations for Global Capability Centres (GCCs) in India: Where to set it up?

In part V of our series on key legal considerations for establishing global capability centres (“GCCs”) in India,[1] we discuss the key factors to keep in mind when determining the location where the GCC is to be set up here.Continue Reading Optimal locations for Global Capability Centres (GCCs) in India: Where to set it up?

Unending woes of realty sector - High Interest Rates

The real estate sector in the past few years has witnessed massive financial crisis with several real estate companies going bankrupt and many others undergoing corporate insolvency resolution process. While the reasons are manifold, one could see steady recovery despite inflation worries and expensive capital. The recent Supreme Court judgment in recalling its past orders delivered in the matter, relating to insolvency of Amrapali Group of Companies (“Amrapali Group”), have now posed a new challenge to the realty business in NOIDA and Greater NOIDA region. The Supreme Court has held that real estate developers in these regions will have to pay interest amount on outstanding lease premium and other dues to Noida and Greater Noida Authorities (“Authorities”) at rates that have been agreed upon under the contract entered into between them and the reduced interest rates will not be applicable to them.
Continue Reading Unending woes of realty: ‘high interest rates on dues continue to apply’, says SC

A Notice in Time Saves Nine

The right to receive notice and an opportunity to be heard are considered as twin ingredients of natural justice, unless specifically excluded by legislation. There are certain laws in India that warrant strict compliance with this requirement. The courts in India have also examined this requirement and its consequences, while keeping in mind the extent to which this requirement is needed to be met with.Continue Reading A Notice in Time Saves Nine

power of attorney

The concept of granting authority or delegating is not new to India, in fact, it can be traced back several hundred years. This concept of bestowing power on a person, by another person, to do things in a formal manner is called a ‘power of attorney’. Power of Attorney is widely used in personal and business transactions, as well as in conducting litigations before courts. The person granting the power is called the ‘principal’ and the one who acts on behalf of the principal is an ‘agent’ or ‘attorney’ of the principal. An act done by the agent, pursuant to the powers granted, binds the principal as if the principal himself has done it.Continue Reading Have You Got the Power?

RERA or Consumer Fora – Homebuyers can make the choice!

Can allottees approach Consumer Forum under the Consumer Protection Act, 1986[1] (the “CP Act”), despite the remedies available under the Real Estate (Regulation and Development) Act, 2016 (the “RERA”), if they don’t want to take a recourse under the latter? This question was long debated and the Supreme Court of India (“Supreme Court”) finally answered it in the case of Imperial Structures Limited v. Surinder Anil Patni and Another[2]. The Supreme Court held that the RERA does not bar the jurisdiction of the CP Act to deal with the complaints filed by consumers who are homebuyers or allottees of real estate projects registered under RERA. While this finding may create more challenges and complexities, such as parallel litigations and claims initiated under both RERA and CP Act, we will analyse the rationale behind this judgment.
Continue Reading RERA or Consumer Fora?  – Homebuyers can make the choice!

 

Real Estate Collaborations & Significance of Corporate Due Diligence 

Introduction

India’s real estate sector has been witnessing critical changes since the last few years, including the promulgation of the Real Estate (Regulation and Development) Act, 2016 (the “RERA Act”). The implementation of the RERA Act has pushed the sector to organise and standardise operations and management of real estate entities. The checks and balances imposed by the RERA Act and liquidity crunch faced by the real estate market has forced the dislodgment of small and unorganised players. Owing to such changes, the real estate market is now witnessing a phase of consolidation and collaboration.
Continue Reading Real Estate Collaborations & Significance of Corporate Due Diligence