Can REITs replace physical real estate in your investment portfolio? © Vandana Ramnani Can REITs replace physical real estate in your investment portfolio?
Real estate has always remained the most preferred and sought after asset class for Indians. Plots, houses, apartments or commercial spaces are favourite investment avenues. According to a 2017 report Indian Household Finance of the household finance committee of RBI, “The average Indian household holds 84 percent of its wealth in real estate and other physical goods, 11 percent in gold and the residual 5 percent in financial assets.”
Interestingly, over the last decade investor interest in real estate, especially the residential segment has declined significantly because of negligible capital appreciation. For instance, according to the housing price index RESIDEX of National Housing Bank (NHB), composite housing prices in 50 cities of India increased by only about 4 percent annually between June 2013 and September 2
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The company has received draft term sheets for MLDs of Rs 375 crore and NCDs of Rs 75 crore
Crisil assigns AAA rating to Rs 375 cr MLDs of Mindspace REIT ANI | Updated: Mar 10, 2021 17:05 IST
Mumbai (Maharashtra) [India], March 10 (ANI): Crisil has assigned an AAA rating with a stable outlook to proposed long-term principal-protected market-linked debentures (MLDs) worth Rs 375 crore of Mindspace Business Parks real estate investment trust (MindspaceREIT).
Crisil also converted the provisional rating assigned to the Rs 300 crore non-convertible debentures (NCDs) to a final rating of AAA with a stable outlook.
The company has received draft term sheets for the MLDs of Rs 375 crore and NCDs of Rs 75 crore and the proposed terms and conditions are in line with those of the REIT s existing debentures. The already placed debentures incorporate covenants capping incremental debt throughout their tenure.