P&C Legal advised Mahindra group’s real estate arm Mahindra Lifespace Developers on its Rs 1,000 crore ($164m) joint venture (JV) with Standard Chartered Bank’s investment arm SCM Real Estate. StanChart was advised by Amarchand Mangaldas.

P&C Legal partner Vishnu Jerome, whose part of Mumbai start-up Alliance Legal merged with South Indian firm Poovayya & Co in February, acted for Mahindra Lifespace with senior associate Sameer Sibal. Mahindra, according to Mint, has developed 8.3 million square feet of projects across nine Indian cities so far.

Amarchand Mumbai partner Leena Chacko, principal associate Rituparno Bhattacharya and associate Prateek Shroff acted for StanChart which through SCM will hold 50 per cent stake in the JV Watsonia Developers, according to the Times of India.

The UK’s StanChart’s SCM is one of the few foreign funds to enter into a real estate JV with Indian companies; other recent entries included Dutch firm APG’s Rs 770 crore JV with Godrej according to the Business Standard.