JOIN USIndian commercial real estate offers investment opportunity worth $43-54 billion (Rs 2,88,758-3,60,948 crore), across the top eight cities through REIT-eligible ready stocks, an industry study showed on Wednesday.
A RICS and Cushman & Wakefield report entitled, ‘Commercial Real Estate: Steering Growth in Indian Cities’, estimates that the value of REIT-eligible stock is seen to be the highest in Bengaluru (Rs 1,05,213 crore) primarily due to the high volume of investible grade developments.
The report was released at the RICS Real Estate Conference 2016 – Commercial Real Estate: Corporate Catalyst.
Addressing delegates at the event themed, ‘Commercial Real Estate: Corporate Catalyst’, RICS South Asia Board Chairman and CBRE CMD Anshuman Magazine said, “Compared with other countries, today, India is adding 35-40 million sq feet of commercial real estate space a year, which is almost to the tune of the entire addition in the 1990s.”
SEBI Chief General Manager Barnali Mukherjee said, “We have come out with the IPO guidelines for the issuance of units of infrastructure investment trusts (INVits). On same lines, we are working on the IPO guidelines for units of REITs.”