Scribd Logo
Upload

Welcome to Scribd!

  • 36 views

    Opinion - Parking Space - Bellandur - PhonePe

    Uploaded by

    SAI SUVEDHYA R
    1. The document provides a legal opinion on using a property located in Bengaluru as a parking space for PhonePe employees. 2. It examines two scenarios: directly leasing from the property owner or engaging a service provider who would lease from the owner. 3. Under direct leasing, the opinion advises PhonePe to ensure proper documentation of the owner's title and include an indemnity clause. 4. For leasing through a service provider, the opinion recommends the service provider conduct due diligence and include an indemnity clause for PhonePe. 5. Legally, converting the property from residential to commercial is not required as it is in a mixed-use area.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Opinion - Parking Space - Bellandur - PhonePe

    Uploaded by

    SAI SUVEDHYA R
    36 views5 pages
    1. The document provides a legal opinion on using a property located in Bengaluru as a parking space for PhonePe employees. 2. It examines two scenarios: directly leasing from the property owner or engaging a service provider who would lease from the owner. 3. Under direct leasing, the opinion advises PhonePe to ensure proper documentation of the owner's title and include an indemnity clause. 4. For leasing through a service provider, the opinion recommends the service provider conduct due diligence and include an indemnity clause for PhonePe. 5. Legally, converting the property from residential to commercial is not required as it is in a mixed-use area.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    1. The document provides a legal opinion on using a property located in Bengaluru as a parking space for PhonePe employees. 2. It examines two scenarios: directly leasing from the property owner or engaging a service provider who would lease from the owner. 3. Under direct leasing, the opinion advises PhonePe to ensure proper documentation of the owner's title and include an indemnity clause. 4. For leasing through a service provider, the opinion recommends the service provider conduct due diligence and include an indemnity clause for PhonePe. 5. Legally, converting the property from residential to commercial is not required as it is in a mixed-use area.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    36 views5 pages

    Opinion - Parking Space - Bellandur - PhonePe

    Uploaded by

    SAI SUVEDHYA R
    1. The document provides a legal opinion on using a property located in Bengaluru as a parking space for PhonePe employees. 2. It examines two scenarios: directly leasing from the property owner or engaging a service provider who would lease from the owner. 3. Under direct leasing, the opinion advises PhonePe to ensure proper documentation of the owner's title and include an indemnity clause. 4. For leasing through a service provider, the opinion recommends the service provider conduct due diligence and include an indemnity clause for PhonePe. 5. Legally, converting the property from residential to commercial is not required as it is in a mixed-use area.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    12.12.

    2022

    BY ELECTRONIC MAIL
    PhonePe Private Limited,
    4th, 5th & 6th Floors, Wing-A, Block-A,
    Salarpuria Softzone, Green Glen Layout,
    Bellandur, Bengaluru – 560 103.
    Kind Attention: Mr. Parag Mathur,
    General Counsel.

    Sir,

    Subject: Opinion regarding the usage of the property


    bearing No. 7/1, situated at Outer Ring Road,
    Ambalipura, Bellandur, Bengaluru (‘Property’) as a
    parking space for the employees of PhonePe Private
    Limited (‘Company’).

    We write to you in pursuance to your e-mail dated


    23.11.2022 wherein you have sought our opinion on the
    subject query. This opinion is in furtherance to the
    preliminary opinion dated 25.11.2022 provided by us.

    The query raised by you is examined under two scenarios


    enumerated below and our response is as follows:-

    A. When the Company will engage directly with the


    owner of the Property.

    1. In this case, the Company has to ascertain the title of


    the owner on the Property. For that the title as well the

    1
    revenue documents have to be examined. The following
    documents will be required for the same:-

    a. Title document reflecting the title, rights and interest


    of the Owner on the Property and the mode of
    acquisition of such title, rights, and interest.

    b. Khata certificate and extract issued by Bruhat


    Bengaluru Mahanagara Palike (‘BBMP’) reflecting the
    name of the owner in the revenue records of BBMP.

    c. Latest tax paid receipt reflecting payment of property


    tax upto date.

    2. We have examined the encumbrance certificate wherein


    a Joint Development Agreement (‘JDA’) dated
    05.11.2004 is reflecting and upon examination of the
    same, it is understood that the Property was assigned to
    Sri. B.M. Ramaiah Reddy vide Partition deed dated
    26.07.1964. His name is also reflecting in the Tax paid
    receipt for the year 2022-23. However, these documents
    are not conclusive on the title of the owner on the
    Property. Hence, we have examined the Khata certificate
    and extract and the same reflects the name of Sri. M.
    Ramaiah Reddy as the Khatedar of the Property.

    3. A clause of indemnity shall be included in the Lease


    Agreement/Leave & License Agreement with the owner

    2
    of the Property wherein it is agreed that the Company
    will be indemnified against the claim/s raised by a third
    party on the (a) title of the owner of the property, (b)
    taxes payable to the Government/Municipal authorities.

    B. When the Company will engage with a service


    provider who shall engage with the Owner of the
    Property.

    1. The exposure of the Company in this scenario is limited.


    However, it is advised that the Company ensures that a
    title due diligence is conducted by the service provider.

    2. The Company shall include an indemnity clause in the


    Agreement that will be entered into with the service
    provider that the service provider will indemnify the
    Company in case of any claim/s on the Property not
    limited to a restriction on the Company of not using the
    Property for the purpose it is provided on lease to the
    Company.

    C. Provision of law on usage of the residential


    Property for parking of Cars.

    1. The area where the Property is situated falls within


    mixed use area under the RMP-2015(Revised Master
    Plan-2015). Hence, conversion from Residential to
    Commercial will not be required.

    3
    2. Although, the act of renting out the vacant site as a
    parking space may be deemed an ‘commercial activity’,
    the area being demarcated as ‘mixed-use’ may not
    require additional permission from the municipal
    authority. Also, currently there are no specific provisions
    of law under the BBMP Act and/or bye-laws which
    require obtaining a specific license/approval/consent
    regarding the use of a vacant site as a parking space.

    3. As per the Parking Policy for Bengaluru City, issued by


    the Directorate of Urban Land Transport, Urban
    Development Department, Govt. of Karnataka, it has
    been proposed that owners of the vacant plot should
    utilize their land for off-street parking and that the civic
    agency should study the feasibility of the
    same. However, currently the said policy is not being
    implemented. Hence, the subject property can be used
    for the purpose of parking the employee’s cars.

    4. For the reasons stated supra, the Company and/or the


    owner need not obtain any specific license or permit.
    However, it is advised that the owner declares to BBMP
    that the entire extent of the Property will be provided
    on rent for parking cars of the Company and seek
    classification as commercial and pay appropriate
    property tax on the same.

    4
    Trust the responses above address your concerns. Please
    feel free to revert if you require any further clarification or
    assistance.

    Poornachandra B. Pattar
    Partner

    You might also like