Tag: Real Estate
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One Size Fits None: Reading Indian REIT and InvIT Data Against a One-Dimensional Leverage Cap
[Varun Soni is a graduate from the National Law School of India University, and an upcoming associate at AZB and Partners] Real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) operate under a peculiar financial straitjacket. According to their governing regulations, they must distribute at least 90% of their distributable cash flow to unitholders. These…
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Dividends Denied: Why InvIT SPV CashFlows Don’t Flow Up
[Simrat Singh is an assistant manager at Vinod Kothari Consultants Pvt. Ltd.] Real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) are often discussed together as parallel innovations in India’s capital markets, reflecting a push towards deploying capital in real estate and infrastructure. Both frameworks were introduced in 2014, share a trust-based structure and are…
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Unity in Distress: Intra-Class Distinctions Among Homebuyers in Real Estate Insolvency
[Anushka Aggarwal is a third-year B.A. LL.B. (Hons.) student at the National Law School of India University, Bengaluru] The 2018 amendment to the Insolvency and Bankruptcy Code, 2016 (‘IBC’) marked a significant evolution, granting the status of financial creditors to homebuyers. As real estate insolvency cases continue to burden the courts, the question of whether homebuyers a class, united…
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Who is a Consumer? Parallel Proceedings under RERA and CPA
[Varda Saxena is a 3rd year B.A., LL.B. (Hons.) student at Jindal Global Law School in Sonipat] Section 2(7) of the Consumer Protection Act, 2019 (“CPA“) mandates that a person who obtains goods for commercial purposes is not a consumer. This means that a person who obtains goods for reasons other than the sustenance of their livelihood…