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Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: I am a student of Insurance Management. I am working on a project on Property Insurance with specific focus on Risk Management of Civil construction projects.I want know about REIT.
In an article I recently read there was something about banks playing a major role in REIT.The article read

" It is also expected that the banks in India can be a major contributor of assets in REITs. These banks own vast commercial real estate for their offices and branches. These assets can be revalued and swapped into a REIT and the asset can be leased to the banks. This would enable the money raised to flow back to the bank for shoring up their balance sheets, and at the same time be a very stable asset for the investors."

The article also mentioned about Budget 2016 exempting REIT from dividend distribution tax.I want to know how it will benefit the Real Estate sector.

The link to the article is
http://naredco.in/Article-details.asp?id=160&prYear=2016
Latest Answer: Thanks everyone for answering my question.Really appreciate !!
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Q: Union urban development secretary Rajiv Gauba has asked Pune and other cities selected for the Smart City Mission to ensure that it is launched by June 25.
Latest Answer: Hi folks, Aftyer 2 hrs of interaction, Mr. Gauba observe the progress in terms of converting of Smart City Plans of these cities into specific projects for tendering and awarding of works. Gauba found out that each city's progress in respect of putting in place institutional mechanisms that have been put in place, transfer of central grants and share of respective states to SPVs, preparation of Detailed Project Reports for calling tenders, and so on etc.
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Q: In Maharashtra, the Mumbai proposal estimate of just Rs. 1118 crore is the lowest among all the 10 major cities.
Latest Answer: Hi Shreya, It definitely is refreshing to hear that the Mumbai proposal is the lowest among the 10 major cities. However, I am skeptical as to how far this will remain accurate when it comes to the implementation of the project. If we look at the past project proposals both in Mumbai as well as other cities in the country we an see that more often that not they have overshot their initial estimate. While the low proposal is still welcome, I doubt that the project will be able to stick to it's proposal considering the high amounts of corruption, bureaucracy etc.
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Q: Which are the points that a rating agency consider to give its rating?
Latest Answer: For the year ended March 2015, Lodha Developers' bookings stood at Rs 7790 crore with sales of 6.7 million sq-ft. Lodha Developers has total land reserves of over 4760 acres. The rating by India Ratings reflects their strong fundamentals, operational and sales expertise and high quality land bank.
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Q: Yes, and the SPVs will be floated by January 2016 to give a boost to prime minister Narendra Modi's favorite smart cities initiative.
Latest Answer: for latest info check www.indiasmartcities.com
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Q: The US-based investment bank, Goldman Sachs, is in advanced talks with Piramal Realty to pick up a stake in some of the most recent real estate assets in a deal that could be worth Rs. 800 crore.
Latest Answer: Piramal Realty launching its Piramal Aranya Project in Byculla on 1st of March 2016 - For More details : http://properties.iproto.org/piramal-aranya-ranibaug-byculla/
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Q: Do you think that budget reforms can boost the realty market? What are the initiative that government should take? Your opinion is highly appreciable.
Latest Answer: Hi Everybody, Let's finger crossed and hope for the best for all sector. Primarily, the Budget will see the government's important projects, including the Smart Cities project, getting much support, including upcoming special economic zones to see reduced alternate tax and dividend distribution taxes. The government may also rationalize duties and set the differential MAT rate at (5-10)%. The government is also expected to give incentives to banks that are losing money over zero-account bank schemes.
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