Faculty Spotlight: Sunil Madan
The Indian government recently passed legislation governing the formation and taxation of real estate investment trusts (REITs) in the country. The Steers Center for Global Real Estate at Georgetown’s McDonough School of Business was awarded a collaborative research seed grant by the Georgetown University India Initiative to conduct a study to quantify the impact and benefits of this legislation on economic and social development in India by extrapolating the impact of similar legislation in the United States.
I traveled to India with Steers Center faculty members Dr. W. Edward Walter and Dr. Matthew Cypher to hold a workshop and present at the Real Estate and Infrastructure Investors’ Summit, organized by the National Real Estate Development Council (NAREDCO) and the Asia Pacific Real Estate Association (APREA). Joe Harvey, president and CIO of Cohen & Steers and a global investment manager with $60 billion in assets under management who specializes in real estate and infrastructure, accompanied our team.
During our visit, the Steers Center team and Harvey consulted with prominent participants in the Indian real estate market, including investors and government officials, about building the REIT market in India. Moving forward, the Steers Center will collaborate with the prestigious Indian Institute of Management Bangalore on research about emerging legislation on REITs in India.
Sunil Madan is the associate director of the Steers Center for Global Real Estate in Georgetown's McDonough School of Business.