Reits were given this approval on August 10. SNG & Partners is one law firm which has created special teams to focus on REITs. Rajesh Narain Gupta, managing partner of the practice explained what they were doing and the obstacles that REIT-creators would find: ‘We have created independent teams to help companies overcome legal challenges. The subregistrar of assurances do not have computerised process to do title verification. There are several legal disputes on properties, which are pending in various courts and it is rather impossible to find out which properties are subjected to disputes as there’s no centralised process for the same, nor is there a single point computerised entry process.’ Source: MagicBricks.com
Email your news and story ideas to: [email protected]
