222MBA5105 / A WORK GROUP ACTIVITY REPORT ON STUDY THE NATURE OF

REALESTATE PROMOTORS

Submitted by

S P BALA SANGAR 9923150140

A SRI LOGESH KANNAN 9923150142
D SUBHASHINI 9923150147
M SURYA 9923150155
S THIRU ANNAMALAI 9923150160
S VIJAY VARUN 9923150180

In partial fulfillment for the reward of the degree of MASTER OF BUSINESS

ADMINISTRATION KALASALINGAM BUSINESS SCHOOL

DEPARTMENT OF BUSINESS ADMINISTRATION

KALASALINGAM ACADEMY OF RESEARCH AND EDUCATION

(Deemed to be university)

KRISHNANKOIL

NOV-2023

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 KALASALINGAM ACADEMY OF RESEARCH AND EDUCATION

(Deemed to be university)

KRISHNANKOIL-626 126

KALASALINGAM BUSINESS SCHOOL

DEPARTMENT OF BUSINESS ADMINISTRATION

BONAFIDE CERTIFICATE

This is to certify that the report is a Bonafide work of S P BALA SANGAR (9923150140),
A SRI LOGESH KANNAN (9923150142), D SUBHASHINI (9923150147), M SURYA
(9923150155), S THIRU ANNAMALAI (9923150160), S VIJAY VARUN (9923150180) who
had carried the work in ARUL SOAPNUT POWDER COMPANY, MADURAI 12 and the
report is prepared under my supervision.

Signature of Course Coordinator Head of the

Department

(DR. T. CHANDRASEKAR)

Internal Examiner External

Examiner

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 ACKNOWLEDGE

On the very outset of this Report, we would like to extend our sincere & heartfelt obligation
towards all the personages who have helped us in this endeavor. Without their active guidance,
help, cooperation, and encouragement. We would not have made headway in the Work Group
Study. We are extremely Thankful and pay Our Gratitude to Dr. K. Sridharan, chancellor,
Dr. S. Shashi Anand, Vice President, Dr. S. Arjun Kalasalingam, Vice President, Vice
Chancellor and Registrar for giving us this opportunity to do the Work Group Study.

We extent Our Gratitude to our Guidance for giving the Wonderful Opportunity and sincere
Thanks to Dr. P. GANESAN, DEAN-Kalasalingam Business School, T. CHANDRASEKAR
Head of Department -Kalasalingam Business School, MBA to do the Work Group Activity.
We take this opportunity to thank Program Coordinator Dr. S.B. INAYATH AHAMED. It is our
duty to express Our Gratitude to the DR. M. DHILIPHAN KUMAR, Assistant Professor of
MBA for his valuable Guidance and Support on the completion of this Work Group Study.

We are grateful to “ANNAIBHARATH HOUSING PRIVATE LIMITED, MADURAI” for

the confidence bestowed in our to do this Work Group Study entitled “STUDY THE NATURE
OF REALESTATE PROMOTORS.”

We also acknowledge with a deep sense of reverence, our gratitude towards our parents and
members of our family, who has always supported us morally as well as economically.

At last, but not least gratitude goes to all our friends who directly or indirectly helped our us to
complete this Work Group Study.

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01. What are the key legal requirements for buying or selling property in specific location?

The Real Estate (Regulation and Development) Act, 2016, and the body under it, the Real
Estate Regulatory Authority or RERA governs the development, marketing, and sale of real
estate projects. It established a mechanism for speedy dispute redressal through the Real
Estate Regulatory Authority and the Appellate Tribunal. It also mandates the compulsory
registration of projects and key players in the real estate sector. Indian real estate law does
not envisage a system of land registration. Rather, the concept of registration is related to the
documents under which the title is transferred from buyer to seller. Any instruments and
documents relating to land or required to be registered in accordance with the Registration
Act,1908. It forms a major component of costs involved in property registration and is to be
paid to the state governments by the buyer. The legal requirements for buying or selling
property can vary depending on the specific location in India. It is advisable to consult a legal
expert or a real estate agent for more information.

02. How do you ensure compliance with local zoning laws and regulations when developing
or selling properties?

It is important to contact the local government or legal counsel to determine how the
property is zoned and whether it can be used for the intended purpose. It is also important to
obtain a certificate of zoning compliance or authority to use the property in the intended way
before leasing or buying a building. Zoning regulations are needed to encourage proper land
use for different purposes and to stop future developments from interfering with current uses
of the land. The rules for zoning differ widely from region to region, but their popular goal is
to distinguish the residential property from commercial properties. It is important to
understand the zoning regulations in the area where the property is located and to obtain the
necessary permits and certificates before developing or selling the property.

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03. Could you explain the legal procedures involved in property title verification and
transfer of ownership?

The first step is to verify the property’s title to ensure that the transferor is the legal owner
of the property and has unambiguous, tradable rights relevant to the property. This is done by
comparing the initial property related documents to public records kept by the local authorities
and making sure they match.

Conduct through checks on the property legal status, ownership, and relevant documents
to avoid future disputes or issues.

Fulfil the responsibility of paying applicable stamp duty and registration fees as per state
laws. Ensure compliance with local laws, including building codes, zoning regulations, and
environmental norms.

Sellers should settle any outstanding dues before transferring ownership to the buyer.
Once all the above steps are completed, the final agreement is signed by both parties, and the
property is registered in the buyer’s name.

04. What legal considerations should individuals or businesses be aware of when entering
into a lease or rental agreement?

The lease should specify the duration of the tenancy, whether it is a fixed term or a
periodic tenancy. The lease should clearly state the amount of rent payable by the tenant and
the security deposit required. The lease should specify the maximum number of occupants
allowed in the rental unit. The lease should specify whether subleasing is allowed and under
what conditions. The lease should specify any restrictions on the use of the rental unit, such
as pet size or number, smoking, or parking. The lease should specify the responsibilities of
the landlord and tenant for maintenance and repairs.
The lease should specify the conditions under which the lease can be terminated by
either party. The lease should specify the legal remedies available to the landlord and tenant
in case of a breach of the lease.

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05. How does your company handle disputes or legal issues related to real estate
transactions, and what legal recourse is available to clients in such situations?

Real estate transactions can be complex and may involve various legal issues. Disputes
may arise over the terms of the contract, such as the validity of the contract and the scope of
each party’s obligations. Disputes may arise over implied warranties, which are warranties
that are not explicitly stated in the contract but are implied by law. Disputes may arise if the
seller fails to disclosure defects or problems with the property.
Financing real estate transactions may trigger disputes that come before courts. In case
of any legal issues, clients can seek legal recourse through the court system. However, the
specific legal recourse available to clients may depend on the nature of the dispute and the
applicable laws in their jurisdiction. It is advisable to consult with a legal professional for
guidance on legal issues related to real estate transactions.

06. Are there any emerging legal trends or recent changes in real estate laws that could
impact property transactions or investments?

Yes, there are several emerging legal trends and recent changes in real estate laws that
could impact property transactions or investments. However, the specifics of these trends and
changes may vary depending on the country or region. For instance, in India, the new
remittance law is anticipated to have a far-reaching impact on the Indian real estate market.
Non-Resident Indian (NRI) investors are now allowed to keep money in offshore banks for
more than six months, as per a new rule. This government directive is anticipated to have a
positive, and far-reaching impact on the real estate market.

In the UK, there are several key trends developing in the real estate market, and future
legal changes that will have a material ongoing impact on real estate investment in the UK.
For instance, the UK government has recently announced plans to introduce a new tax on
overseas buyers of UK property, which is expected to come into effect from April 2021. This

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 new tax is intended to help raise funds for the UK government’s efforts to tackle
homelessness and other social issues.

These are just a few examples of the emerging legal trends and recent changes in real
estate laws that could impact property transactions or investments. It is important to stay
informed about these trends and changes to make informed decisions.

07. Can you provide insights into environmental regulations affecting real estate
development or property transactions?

Environmental regulations are an important consideration in real estate development

and property transactions. Governments and regulatory bodies are updating environmental
regulations that impact real estate practices. These regulations include energy efficiency
requirements, sustainability standards and free building certifications, among other aspects.

Environmental due diligence is a critical component of real estate transactions. It

involves the assessment of known, potential, and contingent environmental liabilities and
obligations associated with a parcel of property to be acquired. The nature and extent of
environmental due diligence is coloured by the current use and historic use of the property, as
well as by its location and the nature of the laws and regulations to which the property is
subject.

In a traditional commercial real estate transaction, the purchaser often intends to purchase
the real property for an investment and generally is not intending to be the operator as well as the
owner. Often, the purchaser will sign a purchase and sakes agreement in advance of conducting
its due diligence, essentially agreeing to purchase the property.