The Strategic Development of REITs in India

Das, Prashant; Thomas, Jr., Charles R.

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The Strategic Development of REITs in India

Journal of Real Estate Literature, Vol. 24, No. 1, 2016

42 Pages Posted: 30 Nov 2016

See all articles by Prashant Das

Prashant Das

Indian Institute of Management Ahmedabad - Indian Institute of Management - Finance & Accounting Area

Charles R. Thomas, Jr.

Tarleton State University - Department of Accounting and Finance

Date Written: December 2015

Abstract

This paper offers a detailed discussion on managerial challenges and opportunities related to newly introduced real estate investment trust (REIT) in India. Features of the proposed REIT structure are critiqued in light of the existing body of knowledge about REITs. We revisit the debate surrounding the issue of external versus internal management of REITs. Analysis of salient aspects of Indian real estate companies such as financing, investment, cash flows and ownership pattern suggest that potential sponsors must go through some fundamental attitudinal changes to successfully adopt the REIT model.

Note: The final version of this paper was published in the Journal of Real Estate Literature (2016: Vol 24 No. 1 pp 105-131).

Keywords: REIT, India, Commercial Real Estate

JEL Classification: L85, L88, N20, O16

Suggested Citation: Suggested Citation

Das, Prashant and Thomas, Charles R., The Strategic Development of REITs in India (December 2015). Journal of Real Estate Literature, Vol. 24, No. 1, 2016, Available at SSRN: https://ssrn.com/abstract=2876941