Origination
Land, held properly.
The practice originates as well as delivers. Land reaches us from its holders, and it reaches capital only after it has survived our own file. This page is for both sides of that sentence: the holder deciding whether to bring a position here, and the investor judging the discipline behind what we bring.
01 · Where positions come from
Origination
Positions reach us from holders, not from listings.
The land that moves through this practice arrives by relationship: holders who approach the principal directly, in confidence, because a position of scale cannot be advertised without being damaged. Nothing here is scraped from a portal, and nothing we carry is simultaneously in six other decks under six other names.
That provenance is the investor's first assurance. A position that arrives quietly, from its holder, with its papers, is a different asset from the same acreage after a year in circulation. Most of the difference is price, and all of it is negotiating posture.
02 · The documentary threshold
Before we carry anything
A position that cannot clear this file does not travel under our name.
Before a position enters a first document, it clears a fixed threshold. Holders are told the list at the start, because assembling it is the real work and the ones who balk at it have answered a question too. And where a position fails the threshold, that is rarely the end: most defects can be cured, and curing is a practice of its own here.
- 01 The chain, thirty years deep The mother deed and every conveyance after it, read in sequence, with succession and partition traced rather than assumed.
- 02 The encumbrance record The registrar's certificate for the full period, and charge searches where a company has ever stood in the chain.
- 03 The revenue record, by its state name The extract, the mutation entries, the tenure class. Every state names these differently, and knowing the local name is the price of reading them.
- 04 Possession, walked Boundaries against the survey sketch, occupation as found, encroachment as found. Paper title and undisturbed possession are separate questions, and the second one has feet.
- 05 The consent architecture Family and co-ownership interests mapped, and every consent the conveyance will need identified before a counterparty is ever introduced. Late consents are the classic Indian failure, and they are late only when nobody listed them early.
- 06 The disputes search Litigation and pending-proceedings searches, run wide, with what is found recorded rather than explained away.
03 · The instruments
How a position is held
Four ways to hold land. Each wins somewhere.
- Outright acquisition
Clean, final, and capital-heavy. Wins where the structure needs unencumbered ownership and the chain supports it.
- Joint development
The holder contributes land for a share of area or revenue. Capital-efficient and the dominant Indian structure, and a dispute machine wherever the share definitions, sanction risk and cost escalation are left loose. We do not leave them loose.
- Development management
The land stays where it is. A fee-and-share structure brings delivery discipline to the holder's own project, with capital introduced only where the holder wants it.
- Option and staged control
Conditions precedent, staged payments, and money that moves only as risk retires. Wins wherever diligence has more to say than the holder's calendar would like.
04 · What the holder gets
The other side of the file
A qualified counterparty, or no counterparty.
A holder who brings a position here gets three things. Capital that has been identified and screened before it ever sees the file. A structure built by people who read the rules for a living, not a haggle dressed as one. And a defined window with a defined end, after which the file closes and the position is theirs again, undamaged.
What a holder does not get: circulation. We do not shop positions across brokers, we do not run price discovery by exposure, and we do not introduce counterparties we have not verified. The position's discretion is the position's value, and we treat it as ours to protect.
05 · The single-mandate rule
Scarcity, structural
One position, one mandate, one clock.
Every position we carry is carried exclusively, for a dated window, to one counterparty at a time. When the window lapses, it lapses. The file closes, and reopening it is a new decision for the holder, not a rollover.
Scarcity here is not a sales tactic. It is how unpriced positions stay priceable.
Enquiries
The practice answers.
128 City Road, London, EC1V 2NX
The development practice is led by Tanishq Chauhan. Correspondence reaches the principal directly.
Tanishq Chauhan on LinkedIn, opens in a new tab
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