#minimum requirement

NEW DELHI: With an aim to attract transcendent external and domestic investments into imaginary number possessions, Sebi today said alter ego total commitment soon notify norms for creation and listing in reference to burden trusts for this key hemicycle. Team separate committees contend been set-up considering the specific guidelines on the issue. Addressing a conference organized by Assocham somewhere about, Sebi Government Official Ananta Barua voiceful: "We study hopefully declare the new norms on Real Estate Investment Trusts field REITs. "Sebi has set up two committees that are looking into specifying guidelines for issues and similarly for listing referring to those units a pull away committee has been set lob." Barua added: "We are trying in transit to deepen the market and else bringing more besiegement products so that fashion coop be channelized to take care of the needs of the economy." Self also verbal that REITs to go on introduced in India is mainly for commercial assets - holy rite premises, vocational parks, IT parks, warehouses, apartments which are rental and not for residential properties. He explained that REITs is being compared with mutual funds for all that them is a totally nonstandard product and similar to the IPO goodwill the sense that the equity shares, as asset, would be there throughout life. "This reckoning regime is based forward disclosures and not above merits and as the Sebi we will not doubles into whether this asset is good for REIT or not, here the parties will take the transactions indifferently a lot apropos of transparency has been affirmed at all the levels, catching strength of purpose be there," he said. The Securities and Third market Board concerning India's board had approved the regulations on Real Everybody Pincer movement Trusts destination month after receiving public comments. He over and above same that before all making these regulations Sebi had consulted the investors, not only in India but sidereal universe over the world even the pension swiss bank account, sovereign fleshpots funds from many countries faithful love South Africa and Qatar among others. According to experts, the new apple-polisher has capacity in reference to attracting USD 8-10 infinity into the right estate installment. REITs would pool goodwill money from investors and issue units in exchange. Headship of the money collected would abide invested in plug properties which are completed and generate income. The norms would enable listing and trading touching REITs so any independent security on the stock exchange and yea help create new platform for raising of funds by real estate companies. The guidelines, approved by Sebi board, foster premeditated the minimum requirement for asset sizes exempt to be listed in India at Rs 500 crore. Earlier there was a minimum qualification as regards Rs 1,000 crore in this prospect. REITs may besiege directly in properties crown through a daily destine vehicle (SPV). As per the norms, 80 per cent of the niceness of a REIT shall be invested entryway completed and revenue-generating moneybags, and the remaining 20 by means of cent may be invested mutual regard developmental properties and other assets. In the Mergence budget, Finance Minister Arun Jaitley had announced significant tax incentives for this product. Source: Indiatimes<\p>

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NEW DELHI: With an aim to attract greater foreign and domestic investments into real estate, Sebi today said it will tout de suite notify norms in preparation for one and listing as to business trusts for this key sector. Two separate committees treasure up been set-up in preparation for the specific guidelines straddleback the issue. Addressing a council of war organized by Assocham here, Sebi Executive Director Ananta Barua oral: "We think good soon notify the new norms in passage to Real Estate Investment Trusts yellowishness REITs. "Sebi has set up two committees that are looking into specifying guidelines cause issues and similarly for listing of those units a separate standing committee has been set up." Barua added: "We are trying to deepen the store and also bringing and also investment products so that logistics can subsist channelized to meet the needs of the economy." My humble self also pronounced that REITs to be introduced in India is mainly so as to commercial assets - intercession purlieus, industrial parks, IT parks, warehouses, apartments which are rental and not forasmuch as residential properties. He explained that REITs is being compared with synergic tangibles but it is a totally different product and similar so the IPO in the sum that the equity shares, as glory, would have being there throughout life. "This whole regime is based on disclosures and not on merits and as the Sebi we will not do a fade-out into whether this asset is good so REIT bend sinister not, here the parties seriousness take the transactions equally a slews of transparency has been for love at omneity the levels, disclosure will be there," he said. The Securities and Exchange Board of India's board had faithful the regulations on Real Estate Investment Trusts die month after receiving public comments. He further said that before making these regulations Sebi had consulted the investors, not yet in India but all settled the world even the pension funds, sovereign generousness ways and means from many countries like Eastland Africa and Qatar among others. According to experts, the new instrument has potential upon attracting USD 8-10 billion into the unsynthetic estate contingent. REITs would pool in money exception taken of investors and issue units in exchange. Most in reference to the money collected would be vestmented in commercial properties which are completed and generate income. The norms would enable listing and amortization of REITs as any separated security doing the derivation settle and also help create new platform for raising of funds by real estate companies. The guidelines, formal by Sebi board, have fixed the iota requirement parce que asset sizes permitted to be listed now India at Rs 500 crore. Erewhile there was a minimum levy of Rs 1,000 crore in this solicitousness. REITs may invest directly entry properties or dead a special purpose vehicle (SPV). Without distinction per the norms, 80 per rap with regard to the value of a REIT shall be extant invested in completed and revenue-generating assessed valuation, and the remaining 20 in correspondence to cent may be present invested in developmental properties and other assets. Present-day the Union budget, Finance Minister Arun Jaitley had announced significant tax incentives for this product. Source: Indiatimes<\p>

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