Luthra builds Rs 520 cr luxury senior homes for Max group

Tuesday, 18 June 2013 By Legally India Real estate

Happy homes
Happy homes
Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.

Antara will build its first senior community project in Dehradun with a budget of Rs 520 crore, reported Mint, adding that the 20-acre project would consist of apartments costing between Rs 1.25 crore and Rs 4.5 crore, and penthouses starting at Rs 7 crore.

Luthra Delhi partners Sundeep Dudeja and SR Patnaik, managing associates Vaibhav Kakkar, Karan Chandhiok and Sachit Mathur, senior associate Sumit Mangal and associates Bhabna Das, Snigdhaneel Satpathy, Varsha Nair and Shreya Garg acted for Antara since its inception last year, advising on structuring, legal and regulatory aspects, drafting and documentation.

“Given that the requirements of the project were somewhat unique in terms of the real estate sphere, it was quite a challenging assignment and the Firm worked hard in developing an innovative lease-hold structure which will now be implemented, perhaps for the first time, in the Indian real estate sector,” the firm said in an email.

Luthra & LuthraL&L Partners

Comments

Whazzat 18 Jun 2013, 11:30
+28 -6
When I read the headlines, I thought that the Luthra team were hired as masons.
ROFL 18 Jun 2013, 12:05
+10 -2
This is one of the funniest comments I have read on LI in ages!! :D
Anonymus 18 Jun 2013, 13:06
+2 -11
That's coz you seem to be a dimwit.
O pls 19 Jun 2013, 06:09
+7 -2
Relax! Learn to laugh at a joke instead of being uptight.
oah 19 Jun 2013, 10:05
+4 -2
Seriously man.. take it easy... Cant you take a joke. You must be one of the people referred to in the article to take it so seriously and so personally!!
Guestbhai 18 Jun 2013, 13:17
+5 -1
[quote name="Whazzat"]When I read the headlines, I thought that the Luthra team were hired as masons.[/quote]
Considering the number of team members... wouldn't blame you if you read the article too! :P
ROFL 19 Jun 2013, 06:07
+1 -0
Ha ha ha. Good one!
@ Kian / Prachi 19 Jun 2013, 07:31
+1 -0
You keep amusing (and shocking) with the choice of words and the writing style. Is it a conscious choice to be like the Times of India (to attract more readers and comments) rather than the WSJ, the Hindu, The Lawyer, etc.?

Would like to hear on this!
kianganz 19 Jun 2013, 07:49
+2 -1
What's so shocking about the headline? I thought it was rather clear that this is a deals report, as many other articles published on this website are. In the unlikely event that Luthra or any other law firm were actually diversifying their business to become real estate developers, I would hope that our headline would be rather unequivocal about that earthshattering fact.

That said, we do like to have a little bit of fun or be a tiny bit creative with headlines occasionally, particularly when reporting on fairly routine deal stories.
Just passing by 19 Jun 2013, 14:40
+1 -0
The headline does suggest that the project has been built. So, it is mis-reporting, whatever be the justification.
Dazed and Confused :P 18 Jun 2013, 11:53
+3 -2
me too :P
ll 18 Jun 2013, 13:14
+0 -0
go varshna great work!
Bhai 19 Jun 2013, 05:52
+0 -0
AZB Delhi not instructed on this one??!!
Really? 19 Jun 2013, 08:51
+1 -0
So... It takes TWO Partners, THREE MA's, ONE SA and FOUR Associates to do a deal like this? Hmmm.... WHO reviewed who?
Confused Zeus Says . . . . 19 Jun 2013, 09:32
+3 -1
It's called "flooding the zone." When law firms have excess spare parts, they are randomly assigned to a project. It's an old trick to shore up billings. Mind you, most of these firms bill an obnoxious $200-500 an hour for their services, so it pays to have maximum people working on any given assignment.
Anonymus 19 Jun 2013, 13:17
+3 -0
Seems you dont know how deals function. One of the partners is in corporate advisory and the other is a tax partner. SA runs the show, while the juniors asssit in research, diligence and closing. Thats how all tier 1 law firms work. I work at another Tier 1 law firm, but I believe that all what you would be doing is drafting leave and license agreements and have no experience on how to work on regulated deals with innovative tax structures.
Gee 19 Jun 2013, 10:21
+1 -1
Have fun rich buddhas!!
Of Deals & Headlines... 19 Jun 2013, 17:52
+1 -0
Its really great to see LI covering Real Estate deals such as these... The due diligence and structuring work must have been tedious and complex...

Prachi has got herself a good piece of news but needs to brush up on her grammar and journalistic skills (the headline truly is hilarious on many levels! : ) ) Or Kian should find the time from his busy schedule to at least vet her articles before posting them...
Prachishrivastava 19 Jun 2013, 18:15
+2 -0
Thank you! Glad you enjoyed the headline!

Best wishes,
Prachi
well-wisher 20 Jun 2013, 05:02
+0 -0
this is a v standard global style for deal reporting. it is assumed that the readership is a niche audience so on can take certain liberties.
Commenting is closed for this article.