Page 17 - Banking Finance January 2019

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ovt or co ittee Rea tate nve t ent r t R
Man e erts a so e eve that the f rst Rea state nvest ent rust R
or e ective i e en
e aunched n the countr n R s as n
tation o R R troduced n the ear n nd a and f rst draft
he entra overn ent has const u de nes on the su ject ere ssued n But
tuted a co t ac of c ar t on ta cat on as ho d n ac
tee to su est the R s to eco e a rea t But n the ast fe
reco enda ears overn ent has re oved an hurd es
t ons to
ne of the ajor dr vers for the ro n nterest of nvestors n the co er
stren then the
c a off ce s ace has een the overn ent s ove to r n n ro ress ve od
rea estate a R RA and to re ove
f cat ons n nd a s R o c n ast three ears a n t ore ar et fr end
d ff cu t es n ts e entat on an
As a resu t o a nvestors have nvested s n f cant ca ta n ac u r n ar e
off c a sa d he dec s on to for the
off ce assets for u d n the r R ortfo os n nd a sa d Sa anta as ch ef
co ttee to e headed n on
econo st and head research and re s nd a
ous n and r an Affa rs o nt Sec
retar Sh v as Meena co es
Rea e tate o anie o e on S rate c t to en i
onths after the n str or an sed
four or sho s here sta eho ders ear o tr gg e
nc ud n ho e u ers had ven
th r e M n ster re terat n h s an to r n do n
su est ons for effect ve e en
the oods and serv ces ta S for under construct on
tat on of the Rea state Re u ator
and f n shed houses to er cent the rea estate f r s
Act R RA
e eve cou d e the turnaround ear for the n
R RA h ch rotects the nterest of dustr that has een suffer n for the ast s ears
ho e u ers e o ers states to no
Mod nd cated that the overn ent anted to r n under construct on and
t f the r ru es and a o nt re u ator
f n shed houses under the S rate s a of er cent e anted to do that
author t es As of no states and
But there ere reservat ons So the S ounc cou d not do t t has no
n on terr tor es have not f ed ru es
one to the co ttee e tr to ensure that the co ttee re ort s
under the rea estate a he n
e ed ted Mod sa d
str has for ed a co ttee under
ts o nt Secretar Sh v as Meena erts sa d r ces of ho es cou d o do n as uch as Rs a h under the
he ane oo nto the su es ro osed ta re e f a f at er cent S s ev ed a ho e u er save
t ons rece ved at the four or sho s Rs a h on a ro ert th su er u t u area of s uare feet car et
on R RA and then su t ts reco area s ft and r ced at Rs er s ft Anuj ur cha r an of Anaroc
endat ons to the n str ro ert onsu tants sa d

AN N NAN | JANUARY | 2019 | 1