Investors still unclear about REIT
While some of the realty firms, backed by private equity (PE) support, gear up towards consolidating their rental portfolios and listing a real estate investment trust (REIT), top developers and real estate funds are cautious and measured in their plans.
Even the full clarity on taxation issues for REIT listings is yet to emerge, developers with large office and retail portfolios said they are in a wait-and-watch mode to see how the first movers perform. Property analysts say it will take at least eight-nine months for the first listings to go through.
The euphoria that is up surrounding REITs touched a high on Sunday when the capital market regulator approved the long-pending proposal to introduce them in India, a move that will help cash-strapped developers with an easier access to finance and also create a new investment opportunity for wealthy individuals, institutions and retail investors.
The approval of REIT by Sebi has happened a few days back but people are still not properly clear and aware with the matter. It would take some time for the people to seep into the different regulations and how the things would be working.
Source: Mint
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