Govt looking at REITS model to monetise land assets

The finance ministry is looking at innovative Real Estate Investment Trusts (REITs) model for sale of land assets of CPSEs and also those which are classified as 'enemy property' by the government. REITs, which are regulated by Sebi, are instruments for investments in real estate. Under this REITs model of securitisation, the land assets will be transferred to a trust providing investment opportunity for institutional investors. The ministry is also considering REITs model for monetisation of immovable enemy property. Enemy property refers to the assets which were left behind by people who migrated to Pakistan or China and are no longer citizens of India. The Custodian of Enemy Property for India (CEPI) or the Ministry of Home Affairs will select the properties for disposal and will also certify that a clear title deed is available and the property is free of any encumbrances and encroachment.