The new norms will help attract more foreign investors to these key sectors and facilitate inflows
Picture for representational purpose
New Delhi: The new norms for setting up of real estate and infrastructure investment trusts will help attract more foreign investors to these key sectors and facilitate inflows worth $15-20 billion from domestic and overseas sources, according to industry experts and officials.Capital market watchdog Sebi during its board meeting today approved regulations for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (INVITs).
Describing the approval as very good news for the realty sector, real estate services major Jones Lang LaSaelle India Chairman and Country Head Anuj Puri said that up to $10 billion is expected to be raised through REITs in the next five years. KPMG India’s Neeraj Bansal said the regulations have been cleared within a month of Budget. “Post approval, expediting of notification of REIT and InvIT norms will facilitate infusion of an estimated $15-20 billion in the sector, and an alternate to bank finan-ces,” he said.
( Source : PTI )
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