Chandigarh, March 12– Haryana Chief Minister, Mr Manohar Lal said that to ensure that there is no dearth of funds and to settle long pending disputes and enhance recoveries for development programmes two concepts -- Real Estate Investment Trusts (REIT) and Infrastructure Investment Trust (InvIT) have been proposed.

The Chief Minister, who also holds Finance portfolio, disclosed this while presenting the State Budget for the year 2021-22 during the ongoing budget session of the Haryana Vidhan Sabha today.

He said that a special purpose vehicle would be formed to pool together its identified rent earning properties, and transferable development rights (TDRs) in the form of REITs under SEBI REITs Regulations 2014. It would help the government to mobilize additional resources without putting burden on the people, he added.

The Chief Minister said that Rs. 500 crores are likely to be mobilized from REIT during 2021-22.