Siddharth Shah

Khaitan & Co partner Siddharth Shah has been included on the Bombay Stock Exchange’s (BSE) advisory group on real estate investment trusts (REIT) alongside 10 representatives of various banks, real estate and financial services companies, according to the PTI.

REITs are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.

It is hoped that after the newly announced budget’s exemption from capital gains tax to popularise REITs, they will bring in around $10bn of foreign funds into the realty sector by the end of this fiscal.

Exclusive: Nishith Desai Associates (NDA) senior practice co-heads Siddharth Shah and Bijal Ajinkya will join Khaitan & Co in Mumbai as funds and tax partners respectively in around two weeks.