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REITS (Real Estate Investment Trust Funds) sound pleasing to ears but most of us are unaware about this. It was implemented in 2014 under the Income Tax Act 1961 in our country. Cushman & Wakefield & RICS report says, “There is an investment opportunity worth $43 – $54 billion across India’s top eight cities including, Delhi-National Capital Region, Bengaluru, and Mumbai & Pune (Source: Economic Times). What is it? Is it going to bring a progressive change in the Indian real estate sector? Let’s find out here –
What is REITs?
REITS are trusts, which will own, operate and finance income producing commercial real estate. An investor can pour as minimum as Rs 2 lakh in the trust. The money from the varied stakeholders will be invested in the commercial real estate projects to generate income. The REITS encompass a principal valuer, a trustee, sponsor and manager.
Like shares and mutual funds, investors can pump money in the trust in the hope of a better return. Government has allowed investment in REITS to make the real estate sector much organized and transparent.
What are the benefits of REITs?
Almost all the developed nations of the world such as Singapore, Japan, U.K., France & Australia have REITS in place. There was a roller coaster ride over the last decade in the Indian real estate sector. REITs may help in organizing the sector in much better way years ahead. The abolition of Foreign Investment Promotion Board (FIPB) will attract the inflow of foreign capital in India, and as result, the economy will be broader.
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