The Securities and Exchange Board of India (SEBI) on March 08, 2024 issued the Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2024
This shall come into force on March 08, 2024
The following has been stated namely: -
• In regulation 2 which states “definitions” in sub-regulation (1), clause (zm) shall be substituted with the following, namely, –
“(zm) “REIT” or “Real Estate Investment Trust” means a person that pools rupees fifty crores or more for the purpose of issuing units to at least two hundred investors so as to acquire and manage real estate asset(s) or property(ies), that would entitle such investors to receive the income generated therefrom without giving them the day-to-day control over the management and operation of such real estate asset(s) or property(ies).
• After Chapter VIA the following shall be inserted, namely, –
“CHAPTER VIB SMALL AND MEDIUM REITS
[Notification No. SEBI/LAD-NRO/GN/2024/166]
