new delhi the finance ministry is looking at the innovative real estate investment trusts reits model for sale of land assets of central public sector enterprises cpses and also those which are classified as enemy property by the governmentreits which are regulated by sebi are instruments for investments in real estate under this reits model of securitisation the land assets will be transferred to a trust providing investment opportunity for institutional investorsthe finance ministry is looking at the reits model along with other modes like leasing or outright sale of land assets for monetising noncore assets of cpses which have been identified for strategic disinvestment an official said although markets regulator sebi had notified reits guidelines in 2014 the market for this instrument for investment in real estate is yet to pick upwith regard to sale of immovable enemy properties the guidelines said the assets would be identified for disposal in consultation with the stakeholders including the respective state governments enemy property refers to the assets which were left behind by people who migrated to pakistan or china and are no longer citizens of indiaalthough the department of investment and public asset management dipam under the finance ministry has spelled out the several models which could be used for monetising land assets the final call will be taken by a ministerial panel headed by the finance minister one of the models proposed by dipam is direct contractual approachunder which large upfront payments for the land could be made to government coupled with small annual payments or small upfront payment coupled with annual paymentsadoption of one or the other model would depend upon many factors like type and use of asset objective of monetisation and various other factors an official said agencies