Reits to tap Rs 90k cr investment: Ernst & Young
Our Mumbai News Bureau
The decision of setting up Real estate investment trusts (Reits), are likely to see light of the day in the upcoming Budget. It is expected that the Reits could open up a new source of funding for developers battling high inventory and high cost of funds. Reits, similar to mutual funds that can be listed and traded on exchanges, could attract investments of Rs 60,000-90,000 crore in the first year of operations itself. Reits are tax-free instruments that invest in income-generating assets such as offices and malls and distribute the income as dividend to unit holders.