The Telegraph
Monday , July 14 , 2014
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Bourse panel on REITs

Mumbai, July 13 (PTI): The BSE has launched an advisory group on REITs (real estate investment trusts), which are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.

Finance minister Arun Jaitley, while presenting the budget last Thursday, had announced tax incentives such as exemption from long-term capital gains tax to popularise REITs, which could be listed on the bourses like company shares and allow retail and institutional investors to buy or sell those securities.

“To help develop the REITs and to make it popular among investing public, the exchange has decided to make an 11-member advisory group of experts from real estate, securities market participants like merchant bankers, legal professionals and consultants in real estate and will advise the exchange relating the newly proposed framework on REITs,” the BSE said in a statement.

The advisory group members include Saurabh Chawla of DLF, Vinod Rohira of K Raheja Corp, DB Group’s Vipul Bansal and Apurva Shah of Deutsch Equity.