Real Estate Investment Trusts (REITs) may soon become a reality in India with the market regulator set to further relax rules that would allow these vehicles to broad-base their avenues of investments. The Securities and Exchange Board of India (Sebi) will allow REITs to invest more in under-construction projects, rationalise unit holder consent for related party transactions and provide flexibility to invest in asset holding entities through intermediate special purpose vehicles. The regulator will make these changes in its board meeting on Friday, which will be the last for its longest serving whole-time member Prashant Saran. The Sebi board is also expected to relax rules on related party transactions.
Read more: Economic Times
