Temperament: Money, Mind & Emotions · Personal Finance TV

Understanding alternative real estate: Exploring REITs and beyond

·30 min·2 clips

Ashish Khandelia says REITs can produce about 6% post-tax income plus 4–5% appreciation.

1. Temperament: Money, Mind & Emotions examines alternative real estate investing through REITs, fractional ownership, AIFs, secure debt, and tokenized property. 2. Host Ashish Chawla leads the discussion, while Shiv Parekh of HBITS, Ashish Khandelia of Certus Capital and Earnest.me, and Rajesh Koradia bring investment and advisory experience. 3. The episode asks how investors can access premium real estate without buying full properties outright. 4. Shiv Parekh explains that a REIT is “more similar to a mutual fund” because it owns a basket of properties and distributes rent to unit holders. 5. He names Embassy REIT, K. Raheja Minespace REIT, Brookfield REIT, and Nexus REIT as examples in office and retail real estate. 6. Ashish Khandelia says India’s first REIT listed in 2019, three more followed, and the first SM REIT has now listed. 7. He adds that REITs are one part of a wider landscape that includes secure debt investing and AIFs. 8. Khandelia says secure debt in real estate can generate “early teens to mid-teens returns” from project debt. 9. Shiv Parekh says alternative platforms target higher-yield commercial assets such as glass-facade buildings with tenants like Deloitte and Accenture. 10. He contrasts that with direct ownership, where one floor or office can require 50 crore, 60 crore, or 100 crore. 11. Rajesh Koradia says commercial property yields around 9%, while residential yields are “hardly four to five percent.” 12. He also says commercial leases often run for at least five years, which helps when a tenant exits early. 13. Khandelia estimates REIT investors should expect about 6% post-tax regular income and 4-5% appreciation. 14. He says that combination can land near 10-11% post-tax return over a 4-5 year period. 15. Khandelia says buying a REIT is as simple as buying a stock through a broker, while physical property needs title diligence, registration, and ongoing management. 16. Shiv Parekh says credible fractional platforms should have meaningful AUM, experienced teams, and strong commercial, technical, and legal diligence. 17. The tone is explanatory and practical, with each guest using concrete examples like offices, malls, warehouses, and minimum ticket sizes. 18. The format moves between host framing and expert answers, with Ashish Chawla repeatedly asking how products work, how much they cost, and how they differ. 19. Investors who want listed property exposure, rental income, and entry points below full-property prices. 20. Readers who want quick property flips or simple direct-ownership stories.

As heard by us

A plain primer on alternative real estate investing in India.

The episode treats alternative real estate as a way into property income without the work of owning a building outright, then sets REITs beside fractional ownership and the older buy-and-manage model.

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Why you'd press play

Compare REITs and fractional ownership before you put money into property.

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