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Property Market Experts Sebi Agreeing to set up real Estate Investment Trusts 12/08/2014
MUMBAI: Property market experts have welcomed the Securities and Exchange Board of India's (Sebi) green signal to set up real estate investment trusts (REITs). It will fund builders constructing commercial properties.

"REITs being given a go ahead by Sebi will enhance the depth of the country's commercial market which will offer financing as well as exit options to developers and investors. The approval couldn't have come at a better time keeping in mind the prevailing paucity of funds coupled with an economy that is on the verge of reaching the takeoff stage," said Shishir Baijal, Chairman & Managing Director, Knight Frank India.
Added Sachin Sandhir, MD, RICS South Asia: '' The move by Sebi to issue guidelines for REITs is laudable as this would bring in positive sentiments and clear confusion in cash strapped real estate sector. REITs specifically will prove to be an effective tool for enhancing investments into the commercial real estate. REITs only look at completed, income generating projects, so risks are minimum for investors."
Anshuman Magazine, Chairman & MD, CBRE South Asia, said, "This move is a positive signal for India's capital markets as a whole, and the realty sector in particular. Reducing the minimum requirement for commercial real estate asset sizes permitted to be listed in India REITs from Rs.1,000 crore to Rs.500 crore is likely to generate more income through this new funding channel and encourage many mid-sized development firms to consider this avenue.''
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