by Mr. Anuj Puri, Chairman & Country Head, JLL India
With the stamp of approval by SEBI, REITs are finally a formalized concept. This is a big change from the ambiguity and uncertainty that prevailed about this very important instrument in previous years. It is gratifying to note that SEBI fully intends to deliver on its assurances of bringing better and faster funding into Indian real estate.
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| Anuj Puri, JLL India |
As the drafts for REITs stands now, further clarity about taxation eligibility norms is definitely required, and will doubtlessly come before the first listing goes up. When this happens, there will be vastly increased interest from foreign investors.
Currently, Grade A office space in the top 7 cities of India amounts to about 37.60 Cr square feet, and we anticipate that about 50% of this space will get listed in next 2 to 3 years.
The valuation of these assets is around $1000 to 1200 Cr, and this accounts for a fairly massive influx of funding waiting in the wings to hit the Indian real estate market via REITs over the next few years.
For Media Contact
Arun Chitnis
Head – Corporate Communications & Media Relations
JLL India
Pune 411001.
Tel: (020) 30930441 Fax: (020) 40196101
Mob: +91 9657129999
Tel: (020) 30930441 Fax: (020) 40196101
Mob: +91 9657129999
Twitter: JLLIndia_Realty
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