REITs expected to attract more funds
The Real Estate Investment Trusts will be helping to attract more funds into the realty sector and there is no need to provide more tax concessions for it. One of the senior government officials made this statement yesterday.
REITs and Infrastructure Investment Trusts (InvITs) are being expected to bring in more global investment and also bring transparency into the real estate and infrastructure sectors side by side.
The Capital market watchdog Sebi, whose board last month has approved the regulations for REITs, is being expected to soon notify the new norms. Also the additional Secretary, Department of Economic Affairs, Dinesh Sharma said that such trusts could be a help in providing more funds.
There is no need to provide any extra necessity to it, no need to provide any extra tax concessions than what have already been announced in the Budget he said. During the delivery of the Union Budget 2014-15, Finance Minister Arun Jaitley had said that REITs have been successful in being used as instruments for pooling of investment through various countries.
Source: The Economic Times
Chairman of SEBI- U. K. Sinha, FDI, FDI (foreign direct investment), fpi, FPI (foreign portfolio investment), Real Estate Investment Trusts, REIT, REITS, SEBI, sebi guidelines, Securities and Exchange Board of India, tax-free
