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Introduction to REITs: Investing in Real Estate Without Buying Property

A practical, India-specific introduction to Real Estate Investment Trusts. Learn how a REIT turns office parks and malls into units you can buy on NSE and BSE for the price of a few thousand rupees, how the sponsor, manager and trustee structure works under SEBI's REIT Regulations, and where the rent actually comes from. Understand the 90% distribution rule, why a REIT payout is split into interest, dividend and debt repayment, and how each piece is taxed. Compare India's listed office and retail REITs, see how InvITs and SM REITs differ, and learn to judge a REIT on occupancy, WALE, leverage, price-to-NAV and distribution yield before you buy. Built for retail investors exploring alternatives, HNIs diversifying beyond listed equity, and first-timers who want real estate exposure without a home loan.

MODULES

5

DURATION

4 Hours

TRACK

Alternative Investing

Access Level

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Curriculum Breakdown

Chapter 1: What a REIT Actually Is

3 Lessons

What Is a REIT? Real Estate You Can Buy on the Stock Exchange10 min read

Inside the REIT Structure: Sponsor, Manager, Trustee and Unitholders11 min read

How REITs Arrived in India: From the 2014 Regulations to the First Listing10 min read

Chapter 2: How a REIT Earns and Pays

4 Lessons

Where REIT Income Comes From: Leases, Occupancy and Rent Escalations11 min read

The 90 Percent Distribution Rule and Why REITs Behave Like Income Assets10 min read

Anatomy of a REIT Payout: Interest, Dividend and Repayment of Debt11 min read

WALE, Tenant Mix and Other Signals of Portfolio Health11 min read

Chapter 3: The REIT Landscape in India

4 Lessons

India's Listed Office REITs and What They Own11 min read

Retail REITs: How a Mall Portfolio Differs From an Office Park10 min read

REITs vs InvITs: Two Trust Structures on the Same Exchange10 min read

SM REITs: SEBI's Framework for Small and Medium REITs10 min read

Chapter 4: Analysing a REIT Before You Buy

4 Lessons

Distribution Yield and Why the Headline Number Can Mislead11 min read

NAV, Price-to-NAV and Buying at a Premium or Discount11 min read

Leverage, Borrowing Limits and Interest Rate Sensitivity11 min read

Reading a REIT's Quarterly Investor Presentation12 min read

Chapter 5: Buying, Taxing and Holding REITs

3 Lessons

Buying REIT Units on Zerodha: Lot Sizes, Liquidity and Settlement10 min read

How REIT Distributions and Capital Gains Are Taxed12 min read

Where REITs Fit in Your Portfolio and the Mistakes to Avoid11 min read