Archives: <span>Perspectives</span>
Structures and Strategy
Governance Layering for Multi-Generational Wealth: Beyond the Family Constitution
The family constitution, as a document, has become almost ubiquitous in Indian family-office advisory. It is a useful artefact. It is also, when held up alone, structurally insufficient for the work it is meant to do. A constitution that is not embedded inside a working...
The Spaces Column
Brand-to-Space Matching: When the Wrong Tenant Mix Destroys Asset Value
A retail asset can run at ninety-percent occupancy and still be losing money. Not in the sense that the rent roll is short — the rent roll, on a contracted basis, may look entirely defensible — but in the sense that the underlying economics are quietly compressing under the...
The Spaces Column
The Quiet Discipline of RERA-Compliant Acquisition Diligence
A buyer who is told that a project is RERA-registered tends to treat the registration itself as evidence of cleanliness. It is not. RERA registration confirms that a project has been entered onto the regulator's roll under the Real Estate (Regulation and Development) Act 2016...
The Spaces Column
Branded Residences in India: Pulling Apart the Brand Premium
The branded-residence category has, in most Indian gateway markets, settled into a price band that runs twenty to forty percent above comparable un-branded inventory in the same micro-market. The premium is real. What is less often examined is what the premium is actually...
Structures and Strategy
FEMA Residency Mapping for NRI Principals: Why Residential Status Drives Every Other Decision
The most consequential single classification in any structural advisory engagement involving an NRI principal is the family member's residency status under the Foreign Exchange Management Act, 1999. Almost everything else, what assets can be held in India, which vehicles can...
Structures and Strategy
The GIFT City Family Investment Fund: A Working Map of the FIF Regime
The Family Investment Fund regime, introduced through the IFSCA (Fund Management) Regulations, 2022 and refined through subsequent amendments, has produced more confusion than clarity in most family-office conversations the team has been part of. The structure is described as...
Capital Notes
AIF Vintage Sequencing: The Case for Stagger Discipline Over Concentration Bets
The deployment indigestion that follows a single concentrated AIF vintage is a pattern that is now visible in enough Indian family-office portfolios to be treated as a base-rate observation rather than a stylised concern. A family commits INR 100 crore to two or three...
Capital Notes
The Sleeve Allocation Architecture: Why Single-Sleeve Capital Deployment Fails Family Offices
Most family offices in the INR 250 crore to INR 500 crore range describe their allocation process as a portfolio decision. In practice, what they operate is a sequence of single-sleeve commitments dressed as a portfolio. A fund is presented, diligence is performed, capital is...
Curated Lifestyle
The discipline behind a quiet evening — how Labels Evenings are curated
An evening without agenda is not an absence of design. It is its most demanding expression. On the philosophy and method behind Labels Evenings.
The Spaces Column
Space repositioning — a structural problem, not a cosmetic one
A tired mall, a stagnating high-street asset, a hotel that has aged past its audience — the repositioning question looks like a design brief. In practice it is a lease-architecture, covenant, and tenant-mix problem. Get the structure right and the design follows. Get the structure wrong and no design will save the asset.