| Structure |
Investment trusts owning real estate properties |
Investment trusts owning revenue-generating infrastructure projects |
| Regulation |
Regulated by SEBI |
Regulated by SEBI |
| Assets |
Commercial real estate properties (no residential) |
Operational infrastructure projects |
| Units |
Units issued to investors, traded on stock exchanges |
Units issued to investors, traded on stock exchanges |
| Distribution |
Mandatory distribution of a significant portion of income as dividends |
Mandatory distribution of a certain percentage of cash flows as dividends |
| Tax Benefits (Dividends) |
Dividend distribution exempt from DDT |
Dividend distribution exempt from DDT |
| Taxation (Investor’s Dividends) |
Taxable as per investor’s income tax slab |
Taxable as per investor’s income tax slab |
| Asset Focus |
Commercial properties: office buildings, malls, etc. |
Operational infrastructure projects |
| Purpose |
Income generation and capital appreciation |
Income generation and capital appreciation |
| Project Type |
Income-generating properties |
Operational brownfield projects |
| Examples in India |
Embassy Office Parks REIT, Mindspace Business Parks REIT |
IndiGrid Trust, IRB InvIT Fund, Sterlite Power Grid Ventures InvIT |