CMS INDUSLAW Advised Prestige Estates Projects On Joint Development Agreement With SARE Gurugram For Premium Residential Project
CMS INDUSLAW advised Prestige Estates on a JDA with SARE Gurugram for a premium residential project in Gurugram
CMS INDUSLAW advised Prestige Estates Projects on Joint Development Agreement with SARE Gurugram for Premium Residential Project
The a premier, full-service Indian law firm,CMS INDUSLAW advised Prestige Estates Projects Limited (Prestige Group) on the structuring, negotiation and execution of a joint development agreement with SARE Gurugram Private Limited (a joint venture between EKA-KGK and Dhoot) for a premium residential project in Sector 92, Gurugram. The project is expected to unlock approximately 3 million sq. ft. of development potential across a ~17.21-acre land parcel.
The proposed development is expected to unlock a Gross Development Value (GDV) of approximately USD 451 million. The transaction involved the strategic acquisition of development rights over an asset that had recently undergone a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. It included comprehensive title and regulatory due diligence, along with structuring and negotiation of transaction documents to mitigate legacy risks, ring-fence the developer from historical encumbrances, and ensure strong commercial protection and operational control.
The CMS INDUSLAW team was led by Kshitij Bishnoi (Partner) and Gautam Kumar Bhargava (Partner), with support from Yogendar Singh (Senior Associate) and Kartik Madaan (Associate) on transactional and structuring aspects, and Sourav Sharma (Senior Associate) and Sourabh Dhall (Associate) on the legal due diligence exercise.
CMS INDUSLAW is a premier, full-service Indian law firm and currently ranks as the 7th largest in India. Formed through a strategic alliance in May 2025 between the Indian firm IndusLaw and the global CMS network, it provides a coordinated legal platform for both domestic and international clients.
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