New norms for Realty will attract foreign investors
The new norms that have been announced for setting up of real estate and infrastructure investment trusts will help attract more foreign investors to these key sectors and facilitate inflows worth $15-20 billion from domestic and overseas sources, according to industry experts and officials.
The capital market watchdog Sebi during its board meeting today approved regulations for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Describing the approval as very good news for the realty sector, real estate services major Jones Lang LaSaelle India Chairman and Country Head Anuj Puri said that an amount up to $10 billion is expected to be raised through REITs in the next five years.
Anuj Puri stated that they are expecting that they will definitely see foreign investors investing in Indian real estate. It will also be helping the developers in raising fresh equity from stock markets, which has been closed since the last few years. About $8-10 billion is expected to be raised through REITs over the next five years. Welcoming Sebi’s move, KPMG India’s Neeraj Bansal said the regulations have been cleared within a month after the Budget announcement.
Source: Financial Chronicle
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