Sebi Gives Nod to Establishing REITs

Mumbai: The Securities and Exchange Board of India (Sebi) on Sunday approved setting up of real estate investment trusts (REITs), a move that may offer a new source of financing to the country's cash-strapped property developers. REITs are listed entities that mainly invest in income-producing real estate assets, the earnings of which are mostly distributed to their shareholders. They generally get special tax treatment. At i...