Real Estate Investment Trust: A Jurisdictional Analysis and Prospects in India in the COVID-19 era

Abstract

A Real Estate Investment Trust or a REIT is an alternative investment which exists in form of a trust, a company or other associations of persons possessing a legal character. REITs own assets such as office buildings, shopping malls, warehouses, hotels, resorts, etc. and these assets generate operating incomes for the REIT in form of rents or interest on loans. The REITs can be listed on the Stock Exchanges, be publicly traded and the investors earn return on investments in form of dividends and market price growth. This paper seeks to explore the categories of REITs, the merits and risks associated with REITs, a jurisdictional analysis wherein the REIT regimes in 8 different countries have been compared, the regulatory framework of REITs in India, analysis of India’s first RIET i.e. Embassy Office Parks REIT and the prospects of REIT market in India in the COVID-19 era.