SENSEX   34273.03    -27.44  (-0.08%)      SENSEX   31697.13    50.67  (0.16%)      |  Gold   30606.00    -136.00  (-0.44%)    |  Silver  38856.00   -221.00 (-0.57%)

Latest News:

Real Estate Stocks Rally On Hopes Of Relaxation In REIT Norms

real estate bill impact

Mumbai: Real estate stocks jumped on Friday on hopes that market regulator Sebi will relax rules for investment in REITs (real estate investment trust) and set easier compliance rules for foreign fund managers keen to relocate to India.

The Sebi board is meeting today to consider various proposals to make REITs attractive for investors. Among the proposals, Sebi will consider allowing investors to invest a large portion of funds in under-construction assets, Press Trust of India said.

"It can allow real estate companies to offload their assets and make use of that money to complete other projects, to expand business, to launch new projects and settle debts," Ashutosh Limaye, national director (research) at JLL India

Further, REITs may be allowed to have a larger number of sponsors. Regulations regarding the minimum public offer size and related-party transactions would also be considered by Sebi today, the Press Trust of India report said.

As of 1.20 p.m. DLF was up 2.74 per cent, HDIL traded 5.4 per cent higher, while Indiabulls Real Estate and Kolte Patil Developers were up 3.62 per cent and 7 per cent respectively. In comparison, the Nifty was up 0.55 per cent.

Comments (0)

No comments yet.

Leave a comment


No trackbacks yet.