Sebi to soon notify norms for REITs
19/09/2014 16:17
To help attract greater foreign and domestic investments into real estate, markets regulator Sebi said that said it will soon notify norms for creation and listing of business trusts for this key sector, said the media report.
Addressing a conference organised by Assocham, Sebi Executive Director Ananta Barua said, "We will soon notify the new norms on Real Estate Investment Trusts or REITs."
The Securities and Exchange Board of India's board had approved the regulations on Real Estate Investment Trusts last month after receiving public comments.
According to experts, the new instrument has the potential of attracting USD 8-10 billion into the cash-starved real estate sector.
This trust would help in the progress of the real estate sector, Barua said.
Like mutual funds, REITs would pool in money from investors and issue units in exchange. Most of the money collected would be invested in commercial properties which are completed and generate income.
The new norms will enable listing and trading of REITs as any other security on the stock exchange and also help create new platform for raising of funds by real estate companies.
19/09/2014 16:17
To help attract greater foreign and domestic investments into real estate, markets regulator Sebi said that said it will soon notify norms for creation and listing of business trusts for this key sector, said the media report.
Addressing a conference organised by Assocham, Sebi Executive Director Ananta Barua said, "We will soon notify the new norms on Real Estate Investment Trusts or REITs."
The Securities and Exchange Board of India's board had approved the regulations on Real Estate Investment Trusts last month after receiving public comments.
According to experts, the new instrument has the potential of attracting USD 8-10 billion into the cash-starved real estate sector.
This trust would help in the progress of the real estate sector, Barua said.
Like mutual funds, REITs would pool in money from investors and issue units in exchange. Most of the money collected would be invested in commercial properties which are completed and generate income.
The new norms will enable listing and trading of REITs as any other security on the stock exchange and also help create new platform for raising of funds by real estate companies.
