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Business EconomyPosted at: Sep 8 2016 4:07PM


SEBI Board To Consider Easier Norms For REITs And InvITs

Mumbai, Sep 8 (UNI) Capital Market regulator With an aim to give capital markets a big push, is likely to ease out the regulations for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) this month.
''We are likely to take a call in our board meeting this month. I am very optimistic that REITs and InvITs will take off this year,'' SEBI chairman U K Sinha told reporters on the sidelines of a conference on municipal bonds.
The move is being taken after SEBI received suggestions to change these norms.
Noting that multiple applications have been received for registration for REITs and InvITs, the SEBI Chairman also said these investment vehicles are expected to take off this year.
''I am very optimistic that REITs and InvITs will take off this year,'' he said.
SEBI had come out with regulations for REITs and InvITs in 2014.
However, a single trust has been set up as yet as investors wanted further measures, including tax breaks, to make these instruments more attractive.
While the government provided for certain tax benefits in the Budget this year, SEBI has now decided to further relax the rules.
SEBI board is also expected to consider an easier set of norms for REITs and InvITs. It may allow REITs and InvITs to have up to five sponsors as against the current norm of maximum three.
Under the proposal for REITs, SEBI would allow up to 20 per cent investment by such trusts in under-construction projects from a maximum of 10 per cent allowed currently.
UNI JS NP1555
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