SEBI cleared all the guidelines
The SEBI Board has approved the guidelines for Real Estate Investment Trust that had been announced in the Budget. A retail investor can invest Rs. 2 lakhs or more. The asset size will be Rs. 500 crore and networth of the fund should be Rs. 10 crore.
There will also be some tax benefits also. The norms were cleared by SEBI’s board at a meeting, which was also addressed by Finance Minister Arun Jaitley. Talking to reporters after the meeting, SEBI Chairman UK Sinha said that the proposals with respect to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) were cleared by the board.
The other proposal that has been cleared by the board was about a simplified one-time procedure for registration of brokers. The Finance Minister, Arun Jaitley had said in his Budget speech last month that the REITs have been successfully used as instruments for pooling of investment in several countries and necessary tax incentives would be given for these products, as also for InvITs.
This approval of guidelines for the Real Estate Investment Trust will help the realty sector a lot and also boost the business.
Source: The Hindu Business Line
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