Cenvat Credit Availment

in my opinion, you cannot avail cenvat credit because as it seems that the asset in question is not covered under the definition of Capital Goods as defined in Rule 2(a) of Cenvat Credit Rules,2004

Capital goods used for construction of building do not qualify for cenvat credit . But  machinery or similar assets to be used for providing taxable services are eligible for credit. Input services in connection with setting  up was admissible till 31-03-2011. As per the amended definition effective from 01-04-2011this stands excluded from the scope of input services.

as the input services are construction related and it does not qualify as input service for output service of rent, so input credit is inadmissible

If the services can be classified as input services as per Rule 2, then as per rule 4(7) of CENVAT credit rules, CENVAT credit in respect of input service shall be allowed,on or after the day which payment is made of the value of input service and the service tax paid or payableas indicated in invoice.

It is important to know as to whether they would be manufacturing excisable goods or provdingn taxable services.

If so they may register themsleves and start availing the credit based on eligiblity.

Additionally the revised definition excludes the construction activity as mentioned by Niar. See article on cenvat credit in articles section.