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October 10, 2013
Sebi to Allow Real Estate Investment Trusts in India
The Securities and Exchange Board of India, or Sebi, is soon likely to allow real estate investment trusts, or REITs, in India, aiming to attract investments to the country’s slackening realty sector.
The objective of REITs, to be registered as trusts with Sebi, will be to organize, operate and manage real estate collective investments. Photo: Ramesh Pathania/Mint
The Securities and Exchange Board of India, or Sebi, is soon likely to allow real estate investment trusts, or REITs, in India, aiming to attract investments to the country’s slackening realty sector.
After about five years of releasing its first draft regulations for REITs, the capital market regulator put out a consultative paper on REITs for public comments on Thursday.
After considering the comments, Sebi will formalize the regulation, bringing in the first set of rules for REITs and allow these entities to do business in India, said a Sebi official who did not want to be named.
The objective of REITs, to be registered as trusts with Sebi, will be to organize, operate and manage real estate collective investments.
To launch REIT schemes, these trusts will have to float a real estate investment management company. All REIT schemes, to begin with, will be close-ended real estate investment schemes that will invest in real estate with an aim to provide returns to unit holders. The returns will be derived mainly from rental income or capital gains from real estate.
Via : LiveMint
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mrjaleb
Given a good information…..
HT
This step of action towards real estate market may attract investment in the property sector
Grp
Its a good news for india . A nice post