Sebi Chairman U K Sinha exuded confidence that REITs and InvITs will take off this year.
"We are likely to take a call in our board meeting this month. I am very optimistic that REITs and InvITs will take off this year," Sebi Chairman U K Sinha told reporters on the sidelines of a conference on municipal bonds.
The move is being taken after regulator Sebi received suggestions to change these norms.
Noting that multiple applications have been received for registration for REITs and InvITs, the Sebi chairman also said these investment vehicles are expected to take off this year.
"I am very optimistic that REITs and InvITs will take off this year," he said.
Sebi had come out with regulations for REITs and InvITs in 2014.
While the government provided for certain tax benefits in the Budget this year, Sebi has now decided to further relax the rules.
Among other things, Sebi's board is expected to consider an easier set of norms on REITs and InvITs. It may allow the REITs and InvITs to have up to five sponsors, as against the current norm for a maximum three.
Under the proposal for REITs, Sebi would allow up to 20 per cent investment by such trusts in under-construction projects, up from a maximum of 10 per cent allowed currently.
