The Real Estate Investment Trusts (REIT) would encourage more investments to come into the Indian real estate sector. The declaration has come from the consulting firm CBRE.
Market regulator SEBI had notified the REITs regulations in 2014. The move allows setting up of and the listing of such trusts, which are very popular in developed countries.
“REIT will not only allow consumers’ participation but also make investments come in (to the real estate sector),” Chairman of CBRE, India and South East Asia, Anshuman Magazine told Money Control.
India has been a key market for CBRE. Its Indian wing has managed capital of Rs 241 billion for its clients across the country.
Now, it is being claimed that the coming times will see a robust investment owing to setting up REIT. The firm also stated in a report titled “Destination 2020,” Chennai has the right ingredients to sustain long-term investments, including the availability of manpower, social and physical infrastructure.
The report especially pointed out that the Old Mahabalipuram Road Zone 1, Zone 2 and Mount Poonamallee Road are expected to witness quality supply of real estate projects in addition to more than 10 million square foot in the next two-three years.
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