Real Estate and Construction Legal Summit 2012 on May 25

A one-day 'Real Estate and Construction Legal Summit' will be held at Hotel LeMeridien, New Delhi on May 25, which will witness eminent speakers sharing their views on state of current laws and why there is an urgent need for reforms.

Organised by Lex Witness - India’s 1st Magazine on Legal & Corporate Affairs, the event aims to provide all stakeholders in the construction industry, including senior management, their general counsel, internal and well as external an opportunity to share thoughts and experiences, discuss and analyze new insights on how to risk manage legal facet of their business.  The conference will be attended by, among others, Construction and Real Estate Owners, Developers, Corporate General Counsel, Contractors, Law Firm Partners and Legal Heads.

Disputes in construction industry are believed to have locked up a significant amount of
investment capital. Disputes along with legal complications, inconsistent, ambiguous and insufficiently tailored contracts have the ability to stall project effecting cash flows, organization reputation, haze assets and drive inefficient resource utilization. The summit aims to address all kind of legal issues faced by the construction industry.

 

“Presently most of the central laws governing various aspects of real estate and construction sector are antiquated and more than a century old. Despite the existence of numerous central and state laws, situation appears to be far from satisfactory and major amendments to existing laws are required to make them contemporaneous and relevant to modern day requirements.” says Lalit Bhasin, President, Society of Indian Law Firms.

 

“The state should not abdicate its responsibility. It should front end all developmental projects, be they public purpose or not, and institutions should be legislated which bring together all contributors to that project to carry it forward as co-owners and risk sharers. Our laws don’t even remotely take this view right now. We are colonial and expropriatory in our approach as opposed to liberal, democratic and development oriented” says Ranjeev C. Dubey, Managing Partner, N South Advocates.

 

“It is advised that a simplified and cost efficient mechanism to be provided for the Land Acquisition which supports the momentum of the economic growth of the country” says B. Sai Chandravadhan, Managing Director, Sand legal Services Private Limited.