Lex Witness – India’s 1st Magazine on Legal & Corporate Affairs successfully completed its 4th Annual Edition of The Real Estate & Construction Legal Summit 2015 on 29th May 2015 at Shangri-La’s Eros, New Delhi. With over 125 Delegates as attendees, 25 Speakers as Industry Veterans from Real Estate & Construction Fraternity, the summit proved out to be a commendable knowledge-base for the industry.
The Indian Real Estate Sector has been going through a cross road where there happens to be a sheer see-saw effect amongst the various parameters when it comes to The Land Acquisition, Rehabilitation and Resettlement Act 2013. The panel aimed at focusing on probable challenges that the industry is facing in the current state of the Act and probable wish lists that the Ordinance partially or fully addresses to.
Badrinath Durvasula, Vice President & Head Legal, Larsen & Toubro – Moderator
Dr. Sanjeev Gemawat, Sr. Vice President – Legal & Secretarial, DLF Group
Aseem Kohli, Vice President, Xander Advisors India
Hardeep Sachdeva, Senior Partner, AZB & Partners
Jogy P Thomas, Chief Executive Officer, ATS Infrastructure
Indian Real Estate Sector is expected to touch US$ 180 billion by 2020. In the country, it is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. Having said this, is it not literally an ‘orphanage’ that the sector is going through without ‘any centralized’ regulatory body in place? The panel discussed the regulatory rides the sector is swinging through.
Badrinath Durvasula, Vice President & Head Legal, Larsen & Toubro
S. Prabhakar, Sr. Vice President – Legal & Corporate Affairs, Experion Developers
Sandeep Shah, Country Head And MD – India, Miyamoto International
Subodh P Deo, Partner, Saikrishna & Associates
Vani Mehta, Real Estate Counsel, GE India
Over 72% of the 6.45 lakh homes that were supposed to be handed over to buyers by 2015 are delayed by anywhere from two to four years. This sounds as one of the many shocking news statements we go through as an industry as well as a buyer. But what’s the major hiccup behind? The panel focussed on scores of approvals, clearances etc. that the sector is puzzled dealing with resulting in nothing but delays as well.
Manish Lamba, General Counsel, Bharti Retail – Moderator
Alok Kumar, Senior Partner, THS – The Law Firm
R.L. Batta, Joint President – Legal, Jaypee Group
Sushil Aggarwal, Vice President (Legal & Co. Affairs), MVL
Vidur Bharadwaj, Director, The 3C Company
Project Management is one of the many challenges that the sector is also going through. Be it the execution or the managerial aspects of the project – right from finances to modeling structures there is a steep lack of skillset that can handle this pressure point well. The industry experts in the panel discussed the various bottlenecks and the secrets behind. Compliance Checks | Contract & Agreements | Dispute Resolution
Ketan Mukhija, Sr. V.P. – Legal (Corporate Strategy & Planning), Srei Infrastructure Finance – Moderator
Dr. Rajeev Uberoi, Group General Counsel, IDFC
Jayashree Swaminathan, CEO, Chess Consulting
Nikhil Sahni, Partner, Saikrishna & Associates
S. Ravishankar, Managing Partner, Law Senate
The Indian Real Estate Industry received a boost after knowing SEBI’s guidelines approach towards REITs. A financially boot strapped sector otherwise welcomes the concept and expects it as a dope of relief amongst the other financial routes it had been scraping through till now. The panel focussed on various aspects of the concept and the nitty-gritties within.
Gautam Parekh, Vice-Chairman & Managing Director, Samma Ajeewa Group – Moderator
Ravi Bhasin, Senior Associate, AZB & Partners
Samir Chopra, Chairman & Founder, Re/Max India
Sachin Gulaty, Head – Valuations (India), Strategic Consulting Group, Jones Lang LaSalle
Surabhi Arora, Associate Director – Research, Colliers International
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