Marginally positive for real estate sector, says Kotak Sec

Measure: Real Estate Investment Trusts (REITS) - capital gains: Sponsor to get same tax treatment on offloading units under an initial offer of listing of units as it would have for offloading the underlying shareholding through an IPOImpact: This is a positive change from last year, as the sponsor stands to save tax on monetization holdingMeasure: REITs - For an REIT holding a rent-yielding asset directly, income will be a pass-through and taxable in the hands of the unit holderImpact: Positive as unit holders to get benefit of their existing tax structures unlike the REIT paying tax in the earlier regime