REITs to have a set concept
Real Estate Investment Trusts (REITs) are finally a formalised concept in India after SEBI approval on August 10. This instrument will bring better and faster funding for the real estate sector and has been welcomed by the stakeholders in the sector.
While the developers lobby is elated at the prospect of an increased interest from foreign investors and better funding avenues, SEBI is going strong on its commitment to safeguard the interests of the investors.
The new REIT regulations, which were cleared by SEBI’s board on August 10, would be notified soon after necessary fine-tuning, a senior official said. It has yet not been stated by when the regulations will get notified however it is being expected that it will take some time. The REIT have finally changed and come out with a different concept which might also help them in getting new investors. These decisions have been delayed from a long period of time but have finally been taken. The SEBI board during the first week of August announced that it is final that the REITs will be having a new set of regulations.
Source: The Tribune
