While welcoming the budget as proactive as far as real estate - TopicsExpress

While welcoming the budget as proactive as far as real estate sector is concerned, Ajit Chordia President of CREDAI-Chennai, said, “Amendment to IT Act to provide Real estate Investment Trusts (REITs) a pass-through status will be an advantage to commercial real estate. A number of larger IT parks and office complexes will be available for retail investors to participate and dependence on bank borrowings will come down drastically. Also, reduction on the threshold for FDI in real estate from 50000 sqm to 20000 sqm will encourage medium sized projects and developers to raise money through the FDI route. The reduction on minimum capitalization from USD 10 mn to USD 5 mn is also an added encouragement.” Read More: tinyurl/qx3endr

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