INDIA Law and Practice Contributed by: Vivek Chandy, Archana Tewary, Kumarmanglam Vijay and Megha Arora, JSA
4. Planning and Zoning 4.1 Legislative and Governmental Controls Applicable to Strategic Planning and Zoning Planning authorities are constituted for the implementation and governing of zoning regu - lations. Considering the changing dynamics of a city, every state facilitates the updating and revising of an existing master plan at least once every ten years, by carrying out a fresh survey of the area within its jurisdiction, to revise the existing master plan and indicate the manner in which the development and improvement of the entire planning area is proposed. Certain states facilitate the acquisition of lands by government organisations for industrial and residential developments. Developments in such areas are mainly governed by the rules and reg - ulations framed by such government organisa - tions. Any exception to the zoning regulations will require prior consent from the state govern - ment, and the process for obtaining this is time- consuming. 4.2 Legislative and Governmental Controls Applicable to Design, Appearance and Method of Construction The construction of new buildings and refurbish - ments in any state is governed by the National Building Code, the applicable town and country planning statute, and the applicable municipal law, including the building by-laws framed by planning authorities. Building and development control regulations require various approvals to be obtained from different authorities for the construction or refurbishment of buildings.
charged. Typically, dues to workmen (employees whose rights are protected under the Industrial Disputes Act, 1947) are prioritised over dues to lenders who have relinquished their securi - ty interest to the liquidation process. Similarly, wages and dues owing to employees (other than workmen) are ranked pari passu with lend - ers who have relinquished their security to the liquidation estate. 3.10 Taxes on Loans As noted in 3.2 Typical Security Created by Commercial Investors , mortgage deeds need to be registered with the SRA in order to be enforceable. All lending documents need to be adequately stamped as per the stamp duty rates applicable in the relevant state in India. CERSAI is a central registry set up under the SARFAESI Act, where banks and financial insti - tutions subject to the SARFAESI Act are required to file charges subject to a nominal fee. Registra - tion must be done within 30 days from the date of the transaction and is not required if: • the creditor is not a bank, financial institu - tion or asset reconstruction company, etc, referred to as a “secured creditor” in the SAR - FAESI Act; or • the security interest is in the nature of a lien on goods, pledges of movables, etc. Apart from the above, there are no exist - ing, pending or proposed rules, regulations or requirements mandating the payment of any recording or similar taxes in connection with mortgage loans or mezzanine loans related to real estate.
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