ASSOCHAM hails introduction of REIT's in real
estate
12/08/2014 10:28
The apex trade body, the Associated Chamber of Commerce and Industry of India (ASSOCHAM) welcomed the introduction of Real Estate Investment Trust (REIT's) which eliminates the double taxation of built assets with an established rental yield. “REITs have the potential to attract USD 15bn to USD 20bn to finance established assets, which will free up capital for new developments”, the industry body said. ASSOCHAM, Secretary General, D S Rawat, said, “REITs is important source of funding across world and there is potential of raising approx 15 billion USD through this”. The subsequent reduction of minimum size of REITs and will allow many developers to float it on small projects as well, it added. ASSOCHAM suggest that if any project which is about to complete within one year of floating REITs and income generation can be started within one year shall be allowed to put into it.
12/08/2014 10:28
The apex trade body, the Associated Chamber of Commerce and Industry of India (ASSOCHAM) welcomed the introduction of Real Estate Investment Trust (REIT's) which eliminates the double taxation of built assets with an established rental yield. “REITs have the potential to attract USD 15bn to USD 20bn to finance established assets, which will free up capital for new developments”, the industry body said. ASSOCHAM, Secretary General, D S Rawat, said, “REITs is important source of funding across world and there is potential of raising approx 15 billion USD through this”. The subsequent reduction of minimum size of REITs and will allow many developers to float it on small projects as well, it added. ASSOCHAM suggest that if any project which is about to complete within one year of floating REITs and income generation can be started within one year shall be allowed to put into it.
