RE in its Indian sense is a black box, even with the introduction of RERA, IBC etc, I am not confident about RE as a whole. So if in the future REITs grow and become a segment by itself, considering the size of our country, the demand for RE in general, and how fragmented RE is, if a lot of players issue CP, the probability of mishaps is more compared to other sectors and businesses is my limited point.
Like I said, just a hypothetical thought, a bit of food for thought for myself 
So a small real estate company issuing CP today is acceptable but a hypothetical small REIT issuing CP in future gets you worried?
Not sure what to say for that.
No, all the same, no difference. RE is RE.
Of course there are genuine names, I myself had a position in one of them before.
REIT in fire sale!
Company behind India’s maiden REIT, about to launch India’s first Retail REIT through Nexus Select Trust.
Source: Blackstone arm to launch India's first retail REIT, raise Rs 4,000 cr
Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering a 9.8 million square feet area valued at around Rs 23,000 crore.
This may probably be a driving force for the retail REITS. The strength in the Indian retail market is expect to favourably impact the retail real estate.
Thoughts?
I just have one question here. Are these equivalent to buy commercial property and earn rental income or real estate investment? I mean not like go in traditional way of signing up loans, managing big asset nd all. Are these equivalent to real estate like how gold can be tracked using goldbees ETF? Is this the paper form? Can we consider this equivalent to real estate in our portfolio?
One can say that it is like what goldbees is to gold but the issue is in tracking the prices as RE in general is mostly illiquid except for highly sought out properties.
Yes, more or less that is the purpose of REITs. But of course each REIT is different from other and lot depends on managers of REIT too on what they hold.
For eg. current listed REIT holds mostly commercial rent generating properties as their portfolio but then embassy REIT also holds a 1600 room hotel and a 100 MW solar park with corp real estate.
So some diversification is possible in portfolio of each.
But more or less, yes this can be considered as holding RE in your portfolio.
There is a condition that InVITs have to distribute 90% of its profit to the investors. Is there any similar condition applicable to REITs? or is there any other feature which makes REITs more attractive than InVITs as an investment opportunity? @Value_investor @Meher_Smaran
Both REITs and InvITs distribute 90% of their income to unitholders through dividends and interest.
You can check this - Differences between REIT and InvIT in India, may be can help us understand the basic differences between the two better before going ahead with an investment decision
while both IBVIT and REIT are mandated to distribute 90% of income to investors, apart from that both are different business and needs to be judged for investment accordingly.
In my opinion REITs are easy to understand and evaluate as Real estate rentals are predictable and understandable for common man.
INVITs come in all shape and size, and evaluating all INVITs on same factors is not possible.
I think currently we have INVITs holding, commercial power transmission line and one having Toll highways in portfolio and both are totally different businesses requiring different skill sets. There is also talk of launch of various other INVITs holding, commercial warehouses, gas pipeline and other businesses.
Also, one important difference to consider while evaluating returns from REIT and INVIT is concept of terminal value.
REIT are expected to have some positive terminal (or end of life value) as business is perpetual and land will still have end of life value. So they behave more like FD/bond - where you invest money, you get fixed timely return and at end of life there will be return of capital. Also, high chance that asset appreciate.
INVITs mostly invest in depreciating assets with most having end of life value as zero. Eg. a toll road will generate return for the period it is assigned to INVIT and after that it goes back to govt.
So effectively you invest money, you get periodic return but nothing at end of life.
Hence, while INVIT ROI looks artificially high, actual return would be totally different then what a normal person would expect.
To conclude, both are different assets, and have their pros/cons. But I feel INVIT investor need to do a slightly deeper evaluation of business.