SEZ, The REIT Investment Strategy

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SEZ, The REIT Investment Strategy

Mutualfund-likeinvestmentinstrumentsareREITs.Theacquisitionofrealestate propertiesisaREIT'smainobjective.Itmightbedonebyrentingthemout &managingthemaspartofaportfolioofinvestmentstoassureasteadyyield.The risingIndianeconomydependsontherealestateindustry.Itaffectstheoverall economyinamultipliermanner.Realestateassetsareheld,managed,andinvested inthroughtheusageofarealestateinvestmenttrust(REIT).

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Thesemightincludehousesthatarefinishedorunderconstructionandareusedto makemoney.Thesearecommercialproperties,suchasoffices,malls,and warehouses.Hotels,hospitals,andconferencecentresareallconsideredtobepart ofcompositerealestatedevelopmentsunderthelegislationiftheyproduceincome orrent.Additionally,includedareindustrialparks&specialeconomiczones(SEZ). SEZhasgrowninimportanceasavehicleforREITinvestment.

TheacquisitionofrealestatepropertiesisaREIT'smainobjective.Asopposedtoa listedrealestatebusiness,whichisestablishedtodeveloprealestateproperties& resellthem,itcanbebyleasingthemout&managingthemtoassureasteadyyield aspartofaninvestmentportfolio.Therealestateassetsareoftenheldby developersinSpecialPurposeVehicles(SPVs).Thepoolingofseveralsuchassets underasingleSEBI-regulatedtrustismadepossiblebyaREITinvestment.

Investment in REITs in India

Acarefullythought-outinfrastructuredesignaidsinluringrecurrentforeign investmentandexpandingthecapitalbaserequiredforeacheconomy'ssustainable growth.Thedevelopmentofthebusinessenvironmentandthegrowthofthereal estateindustrybothincreasedemandforhotelandofficespace.Thesectorneeds newfundingsourcesfrequentlybecauseofashortageofpublicfunding.REITs,or realestateinvestmenttrusts,comeintoplayatthistime.

In2007,SEBIintroducedREITinvestingforthefirsttimetotheIndianmarket.As interestintheinvestmentvehicleincreased,manyregulationswereannounced. Theseweredesignedtoaidintheeffectivemanagementoftheseinvestmentfunds. Currently,REITbusinessesregisteredonIndianstockexchangesaregovernedby theSEBI.

SEZ: What is it?

InIndia,specialeconomiczones(SEZs)areplaceswhereregionalfirmscanbenefit fromincentives.SEZsusuallyofferbusiness-friendlyregulations,competitive infrastructure,duty-freeexports,andtaxadvantages.Dueofthis,manyglobal corporationsselectIndia'sSEZsasapreferredinvestmentlocation.Particular interestinSEZshasbeendemonstratedbyexporters.Toencourageexportcentres andboostdomesticmanufacturing,theSEZActasitisnowwrittenwaspassedin 2006.Theminimalalternatetaxwasappliedlater,though.Alsointroducedwasthe sunsetclause,whichwouldeliminatetaxincentives.Afterthat,theseareasstarted todeteriorate.

ToreplacetheSEZAct2005,theIndiangovernmentproposedtheDevelopmentof Enterprise&ServiceHubs(DESH)Bill.TheDESH'smissionisto"enablethe establishment,growth,andupkeepofDevelopmentHubs."Thesemayinclude already-existingSpecialEconomicZones,whichserveascommunitiesforfostering economicactivity,jobgrowth,integrationwithglobalsupplyandvaluechains, maintenanceofproductionandexportgoals,advancementofinfrastructure facilities,&promotionofR&Dspending.

Thereturntoworkfollowingtheepidemichasbeenslowerthananticipated,despite theenormouspent-upleasingdemand.Short-termeffectsofreduceddemandare probablygoingtobefelt.TheDESH(newSEZlaw)advancementisstillcrucialfor boostingoccupancybecauseofthesubstantialexposureofSEZsintheREIT investmentportfolio.

SEZ categories in India

Freeports,bondedlogisticsparks,exportprocessingzones,urbanbusinesszones, industrialparksorestates,andfreetradezonesareexamplesofSEZs.Followingisa listofthemanySEZtypes:

Sector-Specific SEZ - Committedtomanufacturingoneormoreproductsina certainsector.Forinstance,electronicgoods(using10hectaresormoreofland)or oneormoreservices(usingmorethan100hectaresofland).

Multi-product SEZ - Producesavarietyofproductsorprovidesservicestooneor moresectors.(Landused:atleast1000hectares).

SEZ in a port or airport; or for free trade and warehousing – SEZinaportor airport,orforfreetrade&warehousing(uses40ormorehectaresoflandarea)Producinggoodsintwoormoreindustriesinvolvestradingandwarehousing.

Advantages of SEZ

SEZsareestablishedtoaidinthespeedyeconomicgrowthofthecountry.The followingaresomeadvantagesofSEZsinIndia:

 Constructionofinfrastructureandcreationofjobpossibilities.

 Taxadvantagesforregionalenterprisesandorganisations

 Infrastructureimprovements.

 Itpromotesthegrowthofforeignexchangerevenuesbygenerating additionaljobsthroughexports.

 BusinessesinSEZsareentitledtobenefitsincludingfreeenergy,water,a discountonlandprices,etc.

 Theseeconomiczonesareknownasduty-freeindustrialparksintermsof tradetransactions,duties,andtariffs.

 Inotherwords,goodsandservicesprovidedtoSEZsareconsideredexports andexemptfromtheGoods&ServicesTax(GST).

SEZ Tax Advantages

ThefollowingarethemaintaxadvantagesopentoSEZdevelopers:

 CreatingSEZsforauthorisedoperationsthathavereceivedBOAapprovalare exemptfromcustomsandexcisetaxes.

 IncomefromthebusinessofconstructingtheSEZisexcludedfromincome taxfor10yearsbeginningin15years,asperSection80-IABoftheIncome TaxAct.(AsofApril1,2017,developersaresubjecttothesunsetprovision.)

 TheCentralSalesTax(CST)isexcluded.

 (SecondScheduleandSections7and26oftheSEZAct)Exclusionfrom ServiceTax.

 SuppliestoSEZarezero-ratedunderthe2017IGSTAct.

Rising Housing Demand as a Result of SEZ Development

InIndia,thereare5,634SEZunitsthathavebeensanctionedasofSeptember30, 2022.InSEZsaroundIndia,morethantwomillionpeopleareemployed.Anotable indicatorofthemultipliereffectofjobdevelopmentonhousingdemand,retail consumption,&theeconomyistheriseofcitieslikeNCR,Bengaluru,Chennai, Hyderabad,&Pune.SEZsbasedonmanufacturinghavealsobeenextremely importantincreatingdemandforcheaphousing.

SEZ the REIT way to invest conclusion

SEZsareestablishedtoaidinthespeedyeconomicgrowthofthecountry.Fostering domestic&internationalinvestmentandencouragingexportsofgoodsandservices arethekeyobjectives.SomeofthekeybenefitsofinvestinginSEZsinIndiainclude taxincentivesforlocalbusinessesoperatingthereandinfrastructuredevelopment. PeopleinIndiacaninvestinpriceyrealestate,suchasSEZs,&enhancetheircapital bygettingdividendincomethankstoREITinvestments.

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