REITs norms may be eased

New Delhi : To remove any regulatory hurdle coming in way of foreign investors putting money in the newly created Real Estate Investment Trust (REIT) structure, the government has proposed allowing overseas investments in this space within the FEMA regulations.  The proposed move, to be discussed by the Union Cabinet soon, aims to allow such foreign investments as an exception to the overall prohibition on foreign investors to engage in the real estate business within FEMA (Foreign Exchange Management Act) regulations, sources told PTI.