Saksham Rajvanshi specializes in General Corporate and Real Estate transactions, particularly focusing on title search/investigations, leasing, zoning, and the registration of documents. Apoorva Mehta, our Chief Global Officer spoke with Mr. Rajvanshi about his own Lawfirm- Lawkins and his vision in Real Estate Law.

1. As the Founding Partner of Lawkins, what motivated you to start your own firm, and what has been the most rewarding aspect of this venture so far?

Our firm was founded on a fervent passion for the industry and a resolute belief in the necessity of a profoundly personalized, client-centric approach. Identifying an underserved market for specific service or niche, we aspired to create a firm that would redefine industry standards for client experience. The most gratifying aspect of this journey has been forging enduring partnerships with clients and making substantial contributions to their objectives. Witnessing the tangible realization of our clients’ aspirations is immensely fulfilling and serves as an unwavering source of inspiration for our team.

2. During your time as a Real Estate Lawyer at Shardul Amarchand Mangaldas & Co, what were some of the most challenging cases you worked on, and how did you navigate them?

My time at Shardul Amarchand Mangaldas & Co involved a broad spectrum of real estate transactions, each presenting distinct challenges. A common thread was the intricate balance of legal complexities, market forces, and client demands.

The Indian real estate landscape is characterised by a labyrinthine regulatory framework. Multiple, often overlapping laws and inconsistent enforcement create a complex environment. The real estate market’s conservative nature, marked by lengthy project timelines and substantial investments, necessitates a cautious approach. Clients often prioritise risk mitigation, requiring comprehensive legal protection. Balancing rigorous due diligence with commercial imperatives is crucial. Clear communication and client education are key to managing expectations and building trust.

Limited and unreliable data, compounded by the absence of a centralised property registry, hinders title verification and due diligence. Ground-level investigations and diverse data sources are essential. A robust due diligence framework and advanced data analysis techniques are employed to overcome these challenges.

By navigating these complexities with a pragmatic yet conservative approach, we successfully mitigated risks and achieved positive outcomes for our clients.

3. How do you see the field of real estate law evolving over the next decade, and what changes do you anticipate?

The Indian real estate sector is undergoing a period of substantial transformation. Driven by rapid urbanisation, increasing disposable incomes, and government initiatives such as the ‘Housing for All’ mission, the industry is experiencing unprecedented expansion. The forthcoming decade is expected to witness a surge in demand for affordable housing, commercial property, and infrastructure development. Nevertheless, the sector continues to grapple with challenges such as regulatory intricacies, land acquisition difficulties, and environmental considerations. As the market matures, there is an anticipated growth in emphasis on sustainability, eco-friendly construction, and Real Estate Investment Trusts (REITs). The legal framework will require adaptation to accommodate these developments, addressing matters such as property rights, consumer protection, and environmental compliance.

4. For aspiring lawyers interested in real estate law, what steps would you recommend they take to build a strong foundation and succeed in this field?

For aspiring real estate lawyers, a robust foundation is indispensable. Practical exposure through internships or clerkships within real estate firms offers invaluable insights into the industry’s intricacies. Hands-on training and fieldwork are crucial for understanding the ground realities. Additionally, thorough grasp of land revenue laws and their impact on property rights is vital. Building a strong network within the real estate industry, attending industry conferences, and seeking mentorship can accelerate career progression. Ultimately, developing exceptional negotiation and communication skills is instrumental in fostering client relationships and achieving successful outcomes.

5. What motivated your shift from established firms like L&L Partners to founding your own firm, and what unique challenges have you faced as an entrepreneur in the legal field?

Balancing business acumen with legal expertise is paramount. The competitive legal landscape demands innovative strategies while upholding ethical standards. A significant hurdle lies in bridging the gap between legal complexities and the needs of the common individual, particularly in real estate transactions. Overcoming traditional mindsets within the legal profession and adapting to the dynamic nature of government interactions have also been substantial challenges.

6. What are your long-term career goals?

My long-term career goal is to be a catalyst for change in the Indian real estate landscape. I aspire to create a society where individuals understand the critical importance of legal due diligence in property transactions, with lawyers playing a pivotal role as trusted advisors.

7. What do you think are the key points to look for before buying a property?

Acquiring a property is a substantial financial commitment that necessitates thorough evaluation of several critical factors. Firstly, the location of the property is paramount, as it can significantly influence its value and suitability for your needs. Secondly, understanding the permitted uses of the property is crucial to ensure it aligns with your intended purposes, whether residential, commercial, or other uses. Thirdly, validating the ownership of the property is essential to confirm the seller’s legal right to transfer ownership and to avoid potential disputes. Lastly, investigating any existing encumbrances, such as liens, mortgages, or easements, is vital to ensure there are no legal or financial obstacles that could affect your ownership or use of the property. Each of these factors plays a crucial role in making an informed and secure property purchase decision.

8. What advice would you give to professionals about making a career in real estate law and setting achievable goals?

Seek guidance from experienced real estate lawyers. A mentor can provide valuable insights and support.