First Reit at least a year away: Experts

Despite government and regulators clearing the decks, the launch of the first real estate investment trust could take could another year, say industry players. Reit invests in real estate and trades on exchanges like a stock. It allows small and large investors to acquire ownership in real estate ventures.
 
Realty companies have set the ball rolling to raise resources through Reits but face hurdles.
 
Capital gains tax and stamp duty at the time of land transfer remain key impediments for the launch of these instruments, say bankers and consultants involved in the preparatory work for the instruments.