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Career as a real estate lawyer in India

April 18, 2024

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This article is written by Ashutosh. In this article, the author has covered all the important information related to the career of a real estate lawyer in India, such as the educational requirements to become a real estate lawyer, eligibility criteria, how to become a real estate lawyer in India and abroad, job opportunities, skills, challenges, career and job prospects etc.

Table of Contents

Introduction

The real estate sector in India is developing very rapidly and has become a booming sector for India’s economy. The Indian real estate sector is expected to reach a market size of one trillion dollars by the end of 2030 whereas the market size of this sector in the year 2017 was one hundred and twenty billion dollars. Since there is a lot of growth in this sector, there have been a lot of buying and selling activities going on and these activities are often complex and include a lot of paperwork and other important work.

This is where the role of real estate lawyers comes into the picture. Real estate lawyers in India play a very important role in all the real estate deals such as property transactions and transfers happening between parties. Real estate lawyers are licensed lawyers who indulge in the tiring activities of preparing documents, reviewing documents and drafting various contracts for successful buying and selling of properties.

Choosing to become a real estate lawyer in India can be very useful for all individuals who want to make a good amount of money because it often includes dealing with big builders and contractors who deal in properties. If you are someone who is willing to become a real estate lawyer in India then don’t worry; we have got you covered. Read the article below and you will get all the important aspects of the career as a real estate lawyer in India.

What is real estate law

Real estate law is the law that is concerned with determining all the important aspects related to property transactions. The real estate law is the law that is used to determine the ownership and rights of an individual over a property, it also dictates for who is the legal owner and occupier of a property or piece of land and the duration of that ownership.

In India the real estate laws are governed by both the federal laws and the state-specific laws. This is because the definition of the term “land” given in the Indian constitution under Article 246, states that “land” is the subject of the second list or state list of the Seventh Schedule that contains subjects on which only the states can legislate. Whereas on the other hand the registration of deeds and transfer of property are contained under the concurrent list on which both the centre and the state can legislate. As properties are closely related to the land-related concerns, the real estate matters are dealt with by various laws in India.

Types of real estate laws in India

India has a very comprehensive legal framework that governs the real estate sector. Property laws encompass different aspects such as transfer, registration, dispute resolution, ownership etc. For each activity, there is a different law and the purpose of all these laws are to provide a secure and transparent environment for the transfer and transactions of properties. These are some of the most important real estate laws that every lawyer must know about:

Real Estate (Regulation and Development) Act, 2016 (RERA)

The Real Estate Regulation and Development Act,2016 was passed in the year 2016 with the purpose of regulating the real estate sector in India. This Act was enacted with the purpose of looking into the matters of marketing and development and sale of all the real estate projects to protect the interest of all the consumers while investing in this sector. This Act has also provided for an adjudicating method for the purpose of fast and speedy redressal of all the real estate disputes with the help of the Real Estate Regulatory Authority and the appellate tribunal. This act also proposes compulsory registration of all the real estate projects no matter how big or small. The primary objective behind the enactment of this legislation was to protect the interest of all the homebuyers and promote transparency in the industry. This Act also imposes various struct guidelines on real estate projects.

The Transfer of Property Act, 1882

The Transfer of Property Act was passed in the year 1882, which is a Central Act that provides all the general principles of ownership and possession of all the immovable assets such as lease, sale, exchange, gift of property and mortgage. This Act also outlines all the obligations and rights of parties that are involved in any kind of transaction of property and this Act also makes sure that all the legal requirements for a valid transfer of property has been taken care of.

The Registration Act, 1908

The Registration Act, 1908 was enacted in the year 1908 for the purpose of making registration of documents compulsory for everyone. Registration provides authenticity and legal validity to all such documents and proves the ownership of a person that a particular property is registered under the name of a particular owner. Real estate lawyers play a very important role in the process of registration of properties as they make sure that all the registration requirements are fulfilled and the registration process is in compliance with all the rules and regulations.

Indian Easement Act, 1882

The Indian Easement Act was enacted in the year 1882. The purpose behind the enactment of this Act was to allow the occupier of a property to utilise that particular property for a specific period of time. This Act delves into the different aspects of non-possession of a property, despite using it.

Indian Contract Act, 1872

The Indian Contract Act was enacted in India in the year 1872. This Act deals with all the contracts and agreements that take place in India. This Act provides various guidelines and rules related to the execution of a contract, implementation of a contract, parties who can enter into a contract and all the breach and remedies that are available in case of any default by any of the parties. This Act plays a very important role in the real estate sector as there are a lot of selling and buying contracts being framed during the transfer or properties.

Who is a real estate lawyer

A real estate lawyer or a real estate attorney is a legal professional who has expertise in dealing with the matters related to transactions and transfers of properties. These legal professionals specialise in various matters of real estate such as leasing, buying, selling and transferring properties. These lawyers provide legal representation and guidance to all their clients in multiple real estate transactions such as drafting multiple contracts, negotiation and reviewing all kinds of contracts, resolving disputes and conducting due diligence. Real estate lawyers also handle the issues of zoning and land use, financing options and all the environmental concerns. The main goal of all real estate lawyers is to make sure that the real estate transactions of their clients are legally correct and in the best interest of their clients.

Property owners and buyers often look for experienced and qualified real estate lawyers who can assist them with a variety of issues such as drafting a contract, price negotiations, deed transfers, title searches, representation, reviewing and framing multiple contracts.

What does a real estate lawyer do

The real estate lawyers always perform various tasks during the transfer of a property. These lawyers know how to prepare and review all the documents and contracts that are related to the purchase and sale of a property. These lawyers are legally authorised to perform on behalf of their clients and safeguard their interest in any kind of matter related to transfer of property.

If there is a home purchase transaction, then in such cases, both the seller and the buyer can hire a real estate attorney to represent and safeguard their interest during the entire process. The real estate attorneys also represent their clients in disputes related to closing of a property, where the property is being purchased with a mortgage loan.

Kinds of real estate lawyers

Real estate lawyers are those lawyers who deal with issues related to properties. Their work mostly includes property management, handling disputes of title and ownership in a property. There are different jobs that a real estate lawyer performs and there are different real estate lawyers who handle different kinds of property disputes amongst which some are listed below:

Property lawyer

One type of real estate lawyer is a property lawyer. These professionals mostly work with a non-commercial and commercial firms or they work as independent lawyers. A property lawyer is mostly involved in handling disputes of illegal possession, delay in possession of flat due to the negligence of the builder, ancestral property settlement, partition suits, issues of rent and lease, family estate distribution matters, stay-on demolition matters and organising legal documentation. All the issues that are listed above involve lengthy proceedings and because of this property lawyers charge a huge sum of money from their clients. These lawyers mostly deal with the issues of property developers, land owners and public sector bodies. The starting salary of a property lawyer is around five to six lakh, but this may fluctuate according to the organisation they work in.

Property dispute lawyer

Property dispute lawyers are those professionals who deal with property related matters beginning from transactions to handling all kinds of disputes between the buyer and seller. They are involved in providing essential and crucial advice to their prospective clients for making any purchase or for obtaining any licence and lease of property for any industrial, commercial or residential purpose. They deal with all kinds of properties from a furnished home, vacant land, pond, deck and all other similar elements related to real and immovable property. Their work also includes obtaining pre and post construction licences for their clients, getting permits and approvals for all kinds of industrial and commercial construction. These lawyers have a specialisation in the area of industrial and commercial real estate because of which they earn a huge salary of up to forty lakh rupees if they have enough experience in this field.

RERA lawyer

These lawyers mainly deal with all the issues that are linked with RERA. RERA stands for Real Estate (Regulation and Development) Act, 2016 which mainly deals with safeguarding and protecting the interest of homebuyers in India and they also assist their clients in insurance, and in drafting contracts to protect the interest of their clients. One pertinent thing to note about RERA is that it lacks the technical know-how on how to get a property registered within the real estate regulatory authority. Most of the RERA lawyers are highly qualified and have enough experience in their field and an average experienced RERA lawyer can easily earn up to fifteen lakh rupees per annum.

Real estate legal advisor

Most of the time, builders and developers make wrong decisions because of which, they land themselves in disputes. This is because they don’t get correct advice on how they can comply with all the norms and regulations and make correct decisions. During this situation, a real estate legal advisor comes into picture, these legal advisors assist their clients in making correct decisions and they also tell them to comply with all the norms and regulations to prevent them from landing themselves into any difficulty. Apart from these responsibilities, these lawyers are also involved in making damage claims, negotiation, providing arbitration advice, and advising on latest standards to the stakeholders. An experienced legal advisor can easily earn up to twenty five lakh rupees per annum.

Leasing lawyer

A leasing lawyer is a professional who specialises in all kinds of leases and has enough knowledge about all the complicated laws pertaining to a variety of leasing contracts. These lawyers are required to have sufficient knowledge about all the Central and State specific laws. They must also know about all the tasks and incentives, financing opportunities and many more similar things. The primary responsibility of these lawyers include assisting a landlord or a tenant in understanding their rights and obligations under a lease, which makes the whole process of signing the lease easier and smoother by reducing all the risks and disagreements between them. These lawyers also assist their clients in court proceedings if their rights have been infringed by their landlord or tenant. Leasing lawyers provide a variety of legal advice, such as helping their clients in hammering out agreement, negotiations terms and conditions etc.

Role of a real estate lawyer

There are various roles and responsibilities that a real estate lawyer needs to perform in a matter related to any kind of issue related to property. Here is a list of the most common roles and responsibilities of a real estate lawyer. Read below to know more.

Due diligence and title verification

One of the most important roles that a real estate lawyer plays while handling a matter of real estate property transaction is conducting a thorough title verification and due diligence before initiating any property transaction. These lawyers are responsible for conducting investigations and searches to get all the information related to a property such as the history of ownership, encumbrances and other kinds of legal disputes related to that particular property. The whole point behind this work is to make sure that the property on which they are working is free from all kinds of disputes and has a perfect and clear title. This is mainly done to reduce the risk of legal complications that can happen in the future if the title of the property is not clear.

Drafting and reviewing legal documents

One of the most important jobs that a real estate lawyer is required to do is to review and draft various kinds of contracts and agreements for their clients. They need to carefully draft and review all the documents that they have prepared for their client because even the slightest mistakes in such documents can cause heavy losses to their clients. The real estate lawyers review and prepare sale deeds, contracts, rental agreements, lease agreements and various other kinds of legal documents related to the transaction. These lawyers use their expertise to make sure that the terms and conditions of all the documents are clearly defined and protect the interests of their clients and also ensure legal compliance.

Mediation and negotiations

Real estate lawyers also act as intermediaries and act on behalf of their clients during the negotiation process. They represent the interests of their clients and negotiate on their behalf to make sure that the outcome of the negotiation is favourable for them. If there is any kind of conflict or dispute happening during the transaction then these real estate lawyers make sure that they peacefully meditate and find perfect solutions that would minimise the need for litigation.

Documentation and financial assistance

Most of the real estate transactions include significant financial considerations. The real estate lawyers assist their clients in documenting and understanding all the financial aspects of the transaction that is going on, such as mortgage agreements, loan documentation and escrow arrangements. These real estate lawyers make sure that all the financial aspects of a property are properly addressed, and it does not lead to any kind of dispute between the parties.

Registration and stamp duty

The real estate lawyers carry out the process of registration of property transactions and make sure that everything under the transaction is done in compliance with the law and the registration act and all other relevant laws. Real estate lawyers always guide their clients through all kinds of documentation that is required for registration and they also calculate the applicable stamp duty. The real estate lawyers also make sure that the transaction of a property is properly executed and every necessary step such as filing of documents, etc. is done properly. Overall these lawyers help in completing the legal transfer of the ownership.

Litigation and dispute resolution

It is also one of the most important roles of a real estate lawyer. In most of the cases related to the transfer of a property, there are disputes that come up after the transaction is completed. Then in such scenarios, the real estate lawyers provide legal representation to their clients and help in resolving the dispute. The real estate lawyers handle dispute resolution processes such as arbitration, negotiation, mediation or litigation depending upon the severity and the nature of the dispute that has come up. Real estate lawyers navigate all kinds of complex legal procedures and effectively and properly represent the cases of their clients and make sure that the decision is favourable for their client.

Mitigating legal risks and liabilities

The transactions of real estate matters are often legally complex, and individuals who are inexperienced and don’t have much knowledge about it can face serious legal complications in the future. In such scenarios a real estate lawyer has a very crucial role to play. These lawyers know everything about property transactions and all kinds of laws and regulations related to property. Thus, these lawyers use their skills and help their clients in identifying all kinds of potential liabilities and risks related to a property. The expertise of real estate lawyers helps their clients in navigating all the legal pitfalls and make sure that they carry out a secure and smooth transaction of their property.

Ensuring compliance with laws and regulations

Real estate transactions are dealt with various laws and regulations and local ordinances, and for the successful transaction of a property all the necessary procedures must be carried out in compliance with all the necessary rules and regulations. The real estate lawyers make sure that all the legal requirements of a transaction are done successfully, and requirements such as documentation, registration, and payment of stamp duty are carried out legally and in a valid manner. Compliance with all these legal obligations is extremely crucial to maintain the enforceability and validity of the property transaction.

Handling difficult legal procedures and documentation

Real estate matters often include complex legal procedures and lengthy documentation works. The real estate lawyers assist their clients in framing all these lengthy documents and handling the legal procedures. They have the expertise to navigate all the complexities involved in the case and they also make sure that all the necessary documents are drafted correctly and are in compliance with the rules and regulations. They assist their clients throughout the whole process and ensure that no details are overlooked.

Clarify vague and technical terms

There are various complex terminologies and technicalities used in a real estate transaction. The real estate lawyer assists their clients in fully understanding the concepts so that they are able to get a good deal and reduce the number of any kind of legal disputes. The real estate lawyers also research the property of their clients and find out if any kind of easement or other encumbrances are linked to the property. The real estate lawyers also assist their clients in analysing their future and current tax liabilities.

How to become a real estate lawyer

Real estate is one of the most booming practice areas in the field of law and because of this, there is a huge rise in the number of legal professionals trying to become a real estate lawyer. Even the students in their law schools have a keen interest in becoming a real estate lawyer as the career as a real estate lawyer looks extremely pleasing and exciting. There are various stages that an individual needs to complete before becoming a real estate lawyer. Here are a few steps which you should follow before beginning your career as a real estate lawyer:

Decision making- Before you make up your mind to become a real estate lawyer, you must make sure to gather all the necessary information related to this field and also regarding the profession. You must make a decision to become a real estate lawyer in the initial days of your college or even before beginning your law school.
Prepare for entrance exams– It is always beneficial to get enrolled in a prestigious institution, similarly there are various prestigious institutions of law in which you can get enrolled to get a degree in law. To get yourself enrolled in any of these national institutions you need to crack their entrance exams, for National Law Universities, you need to clear the Common Law Admission Test (CLAT) exam and score good rank in it to get into the upper tier colleges. Other than the CLAT examination, there are also other entrance examinations such as LSAT and AILET that get you into good colleges. Though, clearing these examinations is not an easy job so you need to buckle up after passing your 12th examination and start the preparation of these entrance exams.
Get into a law school- Once you clear the entrance examination and get yourself enrolled in a good law college you need to complete your law degree. You can get into any good law school and opt for an LL.B course upon your preference, you can choose a five year integrated course of B.A LL.B or if you have already done your bachelors then you can opt for a three year law degree. Once you get into a law school, the most important thing that you need to keep in mind is selecting your selective subjects carefully.
Create a plan, do real estate internships etc- Once you are pursuing your law degree, make sure that you make up your mind about what you want to do after your law school. Similarly, if you want to become a real estate lawyer or if you are interested in the area of real estate, then move with a realistic approach and do courses, attend seminars and webinars related to real estate, and also do your internships only in those firms and companies that handle issues of real estate. By doing this, you will get enough knowledge about the matters relating to real estate and this will enable you to remain one step ahead in making your career successful.
Clear the bar exam– Once you have successfully completed your law degree, you need to clear the bar exam of your state to get the advocate’s licence. Clearing the bar exam is not a difficult task if you have carefully attended your law school.
Find a relevant job– Once you clear the bar exam and get enrolled in the Bar Council of India as an advocate, the next thing that you need to do is to get a job. Try looking for a job in a legal firm (which is involved in real estate practice) at the beginning of your career, because if you join a legal firm in your initial days then you will get to learn a lot from your seniors and partners. Once you are settled and know all the whereabouts of this practice area and have created an impact in the society with your work and have gained some kind of recognition you can move forward and start your independent practice.

Specialised real estate areas in India

These are some of the specialised areas of real estate practice in India:

Commercial real estate

One of the major areas under real estate is the area of commercial real estate. Under this area of real estate, the real estate lawyers assist their clients in selling, buying, leasing, and building all types of commercial properties. These lawyers also deal with complex legal issues that are related to land use, commercial leases, zoning laws, financing and management of property.

Real estate development

The lawyers who work under the area of real estate development work closely with the developers and help them throughout the whole process of land acquisition. They help their clients in obtaining all the necessary permits and drafting all the development and construction agreements. They also help their clients in navigating all the environmental and zoning regulations.

Real estate finance and investment

Real estate lawyers who have specialisation in the field of finance and investment provide legal counsel to their clients who are involved in the matters of real estate investment, including real estate funds, private investors and institutional investors. These real estate lawyers also help their clients in negotiating and structuring all the complex real estate transactions, ensuring compliance with all the relevant rules and regulations, and also in assessing all the investment risks.

Residential real estate

The real estate lawyers who work under this area mainly focus on the transactions of residential properties. They handle various complex matters related with precision and aptness. These real estate lawyers matter of residential properties such as apartments and houses. Under this, the lawyers handle issues dealing with mortgage documentation, title searches, purchase agreements and homeowners association matters.

Must-have skills for a real estate lawyer

A real estate lawyer is required to have certain skills in order to excel in his career. Following are some of the most important skills that a real estate lawyer must have:

Contracts drafting and reviewing

One of the most important tasks that a real estate lawyer performs is drafting contracts and reviewing them. All the activities of selling, buying, letting out, mortgaging, etc. in a property is carried out with the help of multiple contracts. A big real estate transaction always required the signing of a memorandum between the parties and similarly a development project requires the execution of a development agreement. Other than these, numerous contracts and agreements are being drafted to carry out real estate transactions. Therefore, it is very important for a real estate lawyer to gain practical knowledge related to drafting and develop necessary skills that are relevant in the field of real estate. Other than the drafting skills the real estate lawyers must also possess contract reviewing skills so that they can easily detect minute mistakes and prevent making those mistakes while drafting a contract, because even a minute mistake can change the whole meaning of a contract.

Research skills and due diligence

Another most important and crucial skill that every real estate lawyer must have is the skill to do legal research and conduct due diligence. If you have an exceptional research skill then you can easily stand out in a crowd and have an upperhand on all your competitors. Profession of law is all about reading and research. Thus, if you are good at researching, you will make your task a lot easier. Similarly, if a real estate lawyer has exceptional research skills, he can easily understand all the complex regulatory compliances and other procedures.

In real estate transactions, there are two parties involved in a deal, thus, conducting exhaustive due diligence is a compulsory requirement. This is to make sure that the deal is correct and truthful and does not consist of any kind of misrepresentation, fraud and any other illegal activity. Due diligence work is mostly required when selling and buying takes place in a transaction. During this period, the real estate lawyer performs various tasks such as checking whether the taxes are paid or not, undisputed property papers are in place, mortgages, debts, or any ongoing arbitration or litigation. Therefore, it is very necessary for a lawyer to acquire due diligence and research skills.

Knowledge of rules, regulations and state-specific laws and monitoring policy

The Real Estate (Regulation and Development) Act of 2016 is the central legislation that deals with the real estate sector as a whole and makes certain regulations and rules to regulate and monitor all the activities in the real estate sector. There are various laws, regulations and rules that vary from jurisdiction to jurisdiction. All these regulations and laws are made by the governments of each state and they are applicable only to those specific states.

For example, if a real estate transaction is taking place in the real estate sector in Mumbai, then, adherence must be given to all the specific regulations and laws in Maharashtra. All the procedural requirements will be followed in accordance with the Maharashtra Regional and Town Planning Act of 1996. Therefore, it is extremely necessary for all the real estate lawyers to gain expertise in state-specific laws. All the states have specific laws relating to real estate. Thus, during situations when there is a conflict between the state legislation and the central legislation then at that time, the central legislation will always prevail.

Learning approval skills, licensing and permissions

Real estate is the field in which permissions, licences and other regulatory and statutory requirements are often used and are enormous. Sometimes, these things are extremely complex. Thus, it is very necessary for a real estate lawyer to check all the procedures related to licensing and other regulations minutely. Approvals and permissions are required from the Real Estate Regulatory Authority at the central level and all other authorities at the state level. Other than this, several other approvals are also taken into account during the whole process.

Risk consulting and compliance

Compliance and risk consulting is an overall task that every real estate lawyer carries out while drafting various reports, papers, other important documents of a company, statutory requirements, regulatory compliances and all adherence to the government norms everything comes under the purview of compliance.

It is the duty of the real estate lawyer to advise and provide consultancy services to his client on how he can mitigate potential risks by adhering to all the compliance norms. Therefore, it is very crucial for a real estate lawyer to possess these skills, and keep track of all the compliance and regulatory-related requirements of his clients and he should also remain updated with all the regulations and rules at all times.

Client advisory

It is very important for a real estate lawyer to have advisory skills. He must have knowledge about all the latest regulations, laws and compliance requirements that are necessary for a developer and builder. Because of the complex process and latest legislations builders and developers often require the assistance of a real estate lawyer.

Real estate lawyers help their clients in avoiding the risk of litigation that may occur due to non-compliance. Client advisory is an integral part of every real estate lawyer’s career. Thus, it is very important for him to acquire advisory skills so that he can give appropriate and important advice to his client when needed.

The real estate lawyer must advise his clients on everyday business and how they can avoid disputes. The legal advice that a real estate lawyer provides his clients includes legal advice on zoning violations, property management, property taxes, restrictions and agreements on real estate, value estimates, etc.

Negotiation skills

Every real estate lawyer must have good negotiation skills. Negotiation skills are one of the most important skills that every lawyer must have who deals with business transactions and deals. Negotiation plays an extremely important role in all the selling and buying transactions happening between the parties.

Real estate lawyers are often required to negotiate on behalf of their clients and put a good deal in favour of their clients. Negotiation skills also come in handy in dispute resolution between the parties. Good negotiation skills can prevent losses and also save the client from any kind of reputational harm. Therefore a real estate lawyer must have excellent communication and negotiation skills.

Communication skills

It is very necessary for a real estate lawyer to have communication skills and this is because real estate lawyers are often required to negotiate with the other party on behalf of their clients and if they are not able to communicate properly then they will not be able to close the deal in the favour of their clients. Another main reason why it is very important for a real estate lawyer to have good communication skills is to build trust and confidence with the client because if the client is not satisfied with your explanation and strategy, he won’t be able to trust you in safeguarding his interest.

Soft skills and effective management

A real estate lawyer is required to perform various activities such as team management, reporting and exhibit time management skills, management information systems, interpersonal skills, organisational skills and other great problem solving skills. Thus, a real estate lawyer must also have effective management and soft skills to effectively deal with the problems of his clients.

Networking skills

Being a real estate lawyer it is very important to have networking skills, it doesn’t matter in which field you are, you must have good networking skills. Networking skills can take you to those places where talent cannot. Good networking skills can help you in onboarding big clients and high stakes matters. Thus, it is very important for every lawyer in any field to have impeccable networking skills.

Widely drafted contracts by real estate lawyers

Real estate lawyers are required to draft various contracts and agreements for their clients. Here, we have listed some of the most important drafts that a real estate lawyer is required to draft.

Agreement to sell- This is the first important document that is being drafted between the seller and the buyer which contains all the details and various other terms and conditions of sale of a property. The terms and conditions include the description of the property, future date of the payment, mode of payment and amount of payment. Thus, we can say that agreement of sale creates the basis of the execution of a sale deed.
Builder buyer agreement– One of the variants of a sale deed is a builder buyer agreement. It is an extremely important document as it is the legal contract between the buyer and the builder. If you want legal recourse, this is the only agreement that will assist you in court. Therefore it is the most important agreement that one should read and understand carefully.
Sale deed– Sale deed is the most important document that is used for the purpose of transfer and sale of the ownership of a property. This document is executed after the terms and conditions that are mentioned in the agreement of sale have been complied with. This document assists the buyer to gain the ownership of the property. It is also referred to as the conveyance deed.
Licence and leave agreement- Real estate lawyers are also required to draft leave and licence agreements for their clients. This is basically an agreement between the licensor and the licensee to temporarily occupy and use a portion of the immovable property for residential and business purposes. The licence is for a period of 11 months in lieu of a fixed payment of fees. This agreement must be compulsorily registered before the sub-registrar of assurances in the place where the property is located.
Joint development agreement– Real estate lawyers are often required to draft a joint development agreement. While drafting this agreement a real estate lawyer is required to take various approvals and permissions from the authorities.

Benefits of becoming a real estate lawyer

All of us know that becoming a real estate lawyer is not an easy task. There are multiple complexities involved, and you need to work really hard to make a successful career in this field. Other than all the complexities and difficulties, there are various advantages and benefits of becoming a real estate lawyer which are greater than its complexities. These are some of the main benefits that you will get after becoming a real estate lawyer.

Salary– Real estate matters are often of big stakes and the parties involved in these disputes are mostly big builders and developers possessing enormous wealth. These parties hire real estate lawyers to help them in real estate transactions and because of this, real estate lawyers receive a decent amount of fees from their clients. If we take out an average, then an average real estate lawyer can easily earn up to seven lakh rupees per annum. Whereas on the other hand, the real estate lawyers who are experienced and have dealt with a significant number of cases and have a good reputation in this field, then, those lawyers can easily earn up to forty lakh rupees per annum. Real estate lawyers who are employed in a law firm also get a good salary but the salary varies from firm to firm. Tier 1 law firms pay almost fourteen to fifteen lakh rupees to their associates who start their career and the salary eventually keeps rising with the promotion.
Dynamic work environment– The real estate lawyers have an extremely dynamic work environment and in their daily life these lawyers meet multiple clients from different strata of the society with different demands and nature. Dealing with all these clients and understanding their issues and demands, negotiating with them, suggesting them good solutions is all a very challenging and adventurous task. Unlike other professionals, real estate lawyers don’t need to work from 9AM to 5PM within the four walls of an office, rather their work includes visiting sites, meeting clients, meeting property dealers and going to the court for legal proceedings.
Independence at work– In most professions there is a hierarchical structure that is being followed, but if you are an independent real estate lawyer then you don’t have any seniority and you don’t need to follow anyone’s orders. You are free to deal with your clients and solve their issues in the manner you like and you don’t need to answer anyone about your actions. This independence and freedom are only for real estate lawyers who have independent practices and not for lawyers who work in a law firm because, in a law firm, there are senior associates, principal associates, and partners who are seniors.
Knowledge of property– Real estate lawyers only deal with matters related to properties and they often deal with dealers and buyers and they get an idea of all kinds of properties which they can buy and invest their money. Not only this, but they also get to know about the best deals in the real estate market and how they can grab those deals or make a profit from it.

Challenges faced by real estate lawyers

All professions have their own benefits and challenges. Similarly, being a real estate lawyer has its own benefits and they also face several challenges throughout their journey. Here we have mentioned some of the most common challenges faced by a real estate lawyer.

Complex and lengthy legal procedures– One of the main challenges faced by a real estate lawyer is dealing with complex and lengthy legal procedures as the legal procedures that are involved in solving a real estate dispute are very intricate and time-consuming. All real estate lawyers need to conduct extensive legal research of State specific laws and they also need to navigate through multiple government departments, regulatory bodies and courts, and these things make the legal procedure more lengthy and time consuming.
Land title disputes and encumbrances– Encumbrances and land title disputes are one of the most common challenges faced by real estate lawyers. They face huge challenges while solving title disputes and making sure that the property in the transaction has a clear title and the ownership that is being given is correct and is in compliance with all the norms and regulations.
Lack of transparency in the field of real estate– The field of real estate in India has faced a lot of transparency issues in the past, including instances of fraud, unscrupulous practices and unauthorised constructions. During these situations a real estate lawyer plays a crucial role in safeguarding the interest of their clients from all such risks and preventing them from going into any kind of disputes, they also make sure that all the transactions are conducted transparently and all the activities are carried out in accordance with the regulatory norms.
Evolving laws and regulatory changes– The real estate sector in India keeps on evolving and new regulations and rules always come up or the previous laws are frequently updated. It is extremely crucial for all real estate lawyers to remain updated with all the latest state and central laws related to real estate. Compliance with interpretations and changing regulations is a tough challenge for both the clients and the lawyers.
Work life balance– A real estate lawyer has to deal with many challenges and one of the toughest challenges is maintaining a work life balance. Real estate lawyers are always overburdened with their work especially the independent practitioners and in such situations they fail to have a healthy lifestyle. Dealing with the demands of the clients and the pressure of high stakes matters always troubles them and they are unable to get time for themselves, and this is one of the toughest challenges that real estate lawyers face.

Top recruiters in real estate

Real estate lawyers are in huge demand and because of that, most of the law firms and other builders and developers hire real estate lawyers to avail their services and safeguard their interest. Here, we have listed some of the prominent law firms that hire real estate lawyers and also provide internship opportunities to interested students who want to make a career in real estate law.

Khaitan & Co.

Khaitan is one of the leading firms that has witnessed consistent growth in the real estate industry. In the last decade, they have witnessed an exponential growth in commercial and residential property projects. They have a team of highly skilled real estate lawyers with specialist skills and experience to deliver a seamless value proposition across all the stages of the asset lifecycle. Their team of professionals provides the best counsel on construction contracts, due diligence, transactions, joint development projects, dispute resolutions, and financing deals. They have worked on some of the biggest and most prominent clients such as construction companies, lenders, investors etc.

AZB & PARTNERS

It is also one of the prominent and leading law firms in India, they have multiple branches all over India and their team of highly skilled professionals deals with a variety of legal issues. Similarly they have a highly skilled team of real estate lawyers that carry out all the real estate transactions carefully. They have represented many huge developers and contractors and have protected their interest and have helped them in coming out of such disputes. Their team of real estate lawyers provide series related to various property matters such as ownership, leasehold, financing and contractual considerations, and other occupancy interests.

Trilegal

Trilegal is a Tier 1 law firm that has assisted many businesses in handling their entire life cycle of a property from the initial stage to the final exit and they have also handled various businesses in corporate acquisition of a property holding company, joint ventures, financing, leasing, title diligence and REITs. Trilegal consists of a highly skilled team of professionals who have a deep understanding of the real estate industry owing to their extensive experience in assisting all the borrowers, lenders, investors and commercial sector. The real estate lawyers of Trilegal are known for their ability to deliver best results on complex deals. Some of the prominent real estate clients of Trilelegal are GIC, Actis, CPPIB, Shriram properties, Mapletree Singapore, Fosun Group, RMZ Corp.

Shardul Amarchand Mangaldas & Co

Shardul Amarchand and Mangaldas is also a very huge law firm that has a nationwide legal practice in India. They handle both residential and commercial real estate transactions. They have their offices in multiple cities such as Mumbai and Delhi. They have a huge team of real estate lawyers that are highly experienced and assist their clients in advising on private equity investment in the field of real estate. Some of their clients are AGP DC Infra Two Private, Bain Capital Credit, Kotak Real Estate Fund.

DSK Legal

DSK Legal is also one of the leading law firms in India that deals with arrays of legal disputes, one of the areas in which they specialise is the field of real estate transactions. They have a huge team of highly skilled professionals who have in-depth knowledge of real estate laws and they have also successfully represented many clients and have won various big stakes matters including big builders and developers. The real estate team of DSK Legal consist of lawyers and attorneys with a decade of experience in all the aspects of property law including real estate acquisition for the purposes of commercial development, residential development, hospitality etc.

Other than all the above mentioned aspects, the team of highly skilled lawyers in DSK Legal also provides services related to dispute resolution, that includes all kinds of multi-jurisdictional and regional litigation and arbitration.

JSA advocates and solicitors

JSA advocates consist of a team of highly skilled real estate lawyers that have successfully represented their clients in court proceedings and have assisted their clients in safeguarding their interests. Their team of lawyers advises various big builders, developers and land owners on regulatory and legal issues. The firm also has extensive experience in all the disputes related to construction and development of malls and hotels and various other buildings.

The firm is sought after because of its in-depth knowledge of all the land laws and local revenue authorities who usually work in the local language. Their real estate lawyers handle matters of disposition, acquisition and also joint ventures. Other aspects of their real estate practice include expertise in the tourism industry, hospitality, leasing and infrastructure work of government and entertainment complexes.

Salary of a real estate lawyer

Real estate lawyers receive a decent salary, and if the lawyers are experienced and have enough skill set then they can easily earn up to five lakh rupees in the starting of their career, and after they gain enough experience, they can easily earn up to thirty to forty lakh rupees in a year. The salary of all the real estate lawyers also vary on various factors such as job profile, work experience, city etc. Range of the salaries of real estate legal professionals are listed below:

Property dispute lawyers– Six lakhs to forty lakh rupees
Property advocate– Five lakh to twenty three lakh rupees
Assistant legal manager– Five lakhs to eleven lakhs
RERA Lawyer– Five lakhs to eleven lakh rupees
Legal advisor– Five lakhs to twenty five lakh rupees

Highest paid real estate law professionals

With the increasing demand for corporate and residential real estate, the real estate market in India is expected to grow to sixty-five thousand crore rupees by the end of 2040. The matters that come up in this field are often high value and high stakes matters and because of this some legal professionals who are associated with these matters make a huge earning. Following are some of the highly paid real estate professionals:

Real estate partners at a law firm– Partners at tier 1 and tier 2 law firms make a huge earning, and especially those professionals who have a specialisation in the field of real estate laws are able to make enormous wealth. Partners of tier 1 law firms can easily earn up to one crore or even more than that in a year, and partners in tier 2 and smaller firms can easily earn up to forty lakh rupees, which can be substantially higher in the certain years when the market blows up which is expected to boom real soon.
In-house counsel for an infrastructure or real estate company– There are many large real estate investment and development companies that have their own legal teams, and that team is headed by a senior professional, and the head earns a significant salary. Their salary ranges from fifty thousand per month at the lower end and can go up to thirty lakh rupees per year.
Real estate lawyer at a boutique law firm– As there are many large and Tier 1 real estate law firms, similarly there are many small boutique firms that focus specifically on the matters of real estate and real estate law. Lawyers in these firms also earn a decent salary, particularly if the firm has experience and also has a successful practice. In the entry level these lawyers can easily earn up to fifty thousand to seventy thousand rupees per month.
Independent commercial real estate attorney– This profession is one of the highest paying in the field of real estate, and there is no limitation in their earning. In these types of roles the lawyers can easily work as a consultant for law firms that deal with disputes related to properties such as issues related to shopping centres, apartments, industrial parks and office buildings. The real estate industry consists of many small realtors that need help from these lawyers who can take care of their contracts and help them in getting licences. This is an extremely lucrative area of work and the successful real estate lawyers can easily earn up to ten lakh rupees per month in tier 1 and tier 2 cities.
Government positions– Real estate lawyers also work in governmental positions, real estate lawyers who work in government related housing and real estate positions can earn a good salary. Most of the government real estate lawyers work at urban development agencies, RERA and public private partnerships. Many of these jobs are contractual in nature rather than permanent government jobs, but they pay really well. Metro cities like Bangalore, Mumbai and Delhi have the highest salaries and prevailing fee rates for real estate lawyers, while the market standards are lower in other smaller cities.

Real estate law job profiles

In the field of real estate law, there are ample opportunities available for real estate lawyers. Real estate disputes are growing everyday in India and because of this, there has been a significant rise in jobs and opportunities in real estate laws. Some of the job opportunities in the field of real estate are listed below:

Job profiles	Job descriptions	Average salary
Notary public	A notary public is an official who is appointed by the state, who serves as an impartial witness to the signing and verifying of the documents	Four lakh rupees per annum
Consultants / Solicitors	Solicitors and consultants in the field of real estate provide various services to their clients. They assist their clients in making crucial decisions of selling and buying a property. They also help their clients in matters related to development, financing, infrastructure and construction of real estate projects.	From 5 lakhs to 30 lakh rupees per annum
Real estate tax litigators	Real estate tax litigators are those professionals who specialise in tax disputes and handle litigation related to infrastructure and real estate projects. These professionals also represent their clients before courts, tribunals and other authorities.	Eight lakh rupees per annum
Legal consultants	Real estate lawyers also work as consultants for their clients. They assist them in making crucial decisions and how they can save themselves from getting into any kind of litigation. They provide legal advice on multiple areas of real estate transactions.	Varies from eight lakh to 12 lakh rupees

Conclusion

A real estate lawyer is a lawyer that deals with disputes related to properties. They are highly experienced in representing their clients in real estate transactions. These lawyers are in great demand nowadays and their demand is continuously growing with the rise in the number of real estate disputes.

Developers, builders and contractors often hire real estate lawyers to assist them in buying and selling properties. The real estate lawyers are responsible for advising their clients to protect their interests. Their services are not only limited to these things but they provide a variety of services to their clients. Such as negotiation, drafting contracts etc.

Frequently Asked Questions (FAQs)

These are some of the most frequently asked questions about real estate careers and real estate lawyers.

What does a real estate attorney do?

A real estate attorney performs various functions and their services depend upon the work for which you have hired them. For example, if you are purchasing a home then in such a scenario a real estate attorney can negotiate terms and conditions on your behalf. He will also draft various contracts and agreements for you and explain all the important documents that are used in a real estate transaction.

How to become a real estate lawyer?

In order to become a real estate lawyer in India, you need to first get yourself into a good law college and complete your law degree. Once you have a law degree, you can go for higher studies or for a postgraduate degree doing a specialisation in real estate laws. In order to have a successful career in the field of real estate law, you must make sure that you do various internships and attend workshops that focus on real estate matters.

What are the best colleges in India for real estate law?

There are various prestigious colleges and National Law Universities that offers courses related to real estate, and those are:

National Law School of India University, Bangalore
National Law University, Delhi
Rajiv Gandhi National University of Law, Patiala
Government Law College, Mumbai

What are the challenges faced by a real estate lawyer?

Though real estate lawyers earn a good salary, they face various challenges throughout their whole career. They have to face various challenges to fulfil their professional demands by doing extended hours of research and work, complex draftings etc. Other than these things, the government keeps introducing new laws and regulations and because of this, the real estate lawyers are required to keep a close watch on all the latest rules and norms enacted by the government.

Is it beneficial to become a real estate lawyer in India?

Yes, it is extremely beneficial to become a real estate lawyer in India and this is because real estate matters are always high stakes and always include a huge amount of money or a high value property. Thus the organisations, builders and developers that hire real estate lawyers pay huge salaries to real estate lawyers. If you build up an independent practice in real estate, then it will be the most rewarding.

What are the most important skills for a real estate lawyer?

There are various important skills that a real estate lawyer must have in order to have a successful career in the field of real estate. Some of the most important skills are having an in-depth knowledge of all the Central and State specific laws. These lawyers are also required to remain updated with all the rules and regulations that are enacted by the government. One of the major skills that every real estate lawyer must have is the ability to do extensive research and this is because most real estate matters are complex and difficult and it requires a lot of research to solve the issue.

What are the primary responsibilities of a real estate lawyer/

Some of the primary responsibilities of a real estate lawyer are as follows:

Handling various transactions
Safeguarding the interest of their clients
Handling the foreclosure proceedings
Addicting the clients with closing
Provide legal advice
Arranging for the insurance of title

What are the best and must read books for real estate law?

These are books that every individual must study who is trying to pursue a career in the field of real estate law.

Law of Ownership and Transfer of Property in India written by Sandeep Bhalla
GST on Real Estate Law and procedure written by CA Pritam Mahure
Indian Real Estate Law 2016 written by Dr K Natrajan and Mr. B Nedunchezhiyan
Real Estate Finance in India authored by Divyanshu Sharma and Prashant Das
Real Estate Law: Fundamentals for the Development Process written by Peter E. Smirniotopoulos
Real Estate Market Valuation and Analysis written by Joshua Kahr and Michael C.Thomsett
Laws relating to Real Estate Regulation in India written by M.V. Durga Prasad

How to gain specialisation in real estate law?

To gain specialisation in real estate law in order to have a successful career in real estate law, all you have to do is read a ton of books and keep on updating yourself with all the State specific and Central regulations. If you are a student and you have decided that you will make a career in the field of real estate law, then the first thing you should do is to focus only on the side of real estate law. This means that, you should do all the internships in those firms which have a specialisation in real estate law. You should write research papers only on the topics of real estate law. In short, you need to select the area of real estate law as your niche.

How much does an independent real estate lawyer earn?

There is no definite amount that quantifies the salary of an independent real estate lawyer. Their salary mainly depends on the number of clients they have and their valuation of matters they have. Any experienced real estate lawyer that has high stakes matters and in the past, he has successfully represented many clients, then such lawyer can easily earn up to fifty lakh rupees per annum and more than that. A beginner who has just begun his career in the field of real estate can also earn up to five lakh rupees per annum. Always keep in mind that their salary always depends upon the matters they have. Even a new real estate lawyer can make a huge amount of money if he/she gets a high stake matter.

Who are the top recruiters of real estate lawyers?

There are various tier 1 and tier 2 law firms that hire law firms that hire real estate attorneys, and they also pay them a good salary. Tier 1 law firms such as Trilegal, AZB, Shardul Amarchand Mangaldas and JSA advocates hire real estate lawyers to deal with their high stakes real estate clients. Other than these top law firms, there are many boutique law firms that hire real estate law firms, and government agencies such as RERA also hire real estate lawyers on a contractual basis.

Do real estate lawyers earn a good salary in India?

Yes, Indian lawyers earn a good salary in India. As we all know that the real sector in India is growing very rapidly and most of the law firms look for skilled real estate lawyers to assist them in court proceedings. Not only law firms, but various big builders, developers and investors are also hiring real estate lawyers to take their advice in matters of real estate transactions. Since most of the matters of real estate are huge and high stakes, these real estate lawyers are paid a huge salary by their clients.

Whether an independent real estate lawyer makes more money than a lawyer in a law firm?

There is no correct answer for this question. If there is an independent real estate lawyer who is practising from more than ten to fifteen years then surely he will earn more than a real estate lawyer working in a law firm. There are various difficulties and challenges that an independent lawyer will have to face in the initial days of his career such as finding clients, and managing all the work by himself whereas on the other hand a lawyer working in a law firm is free from such things.

References

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