Notification No. SEBI/LAD-NRO/GN/2024/166; Dated: 08.03.2024
SEBI has notified the SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2024. A new chapter VIB relating to ‘Small and Medium REITs’ has been inserted to the existing regulations.
The term “Small and Medium REIT” (SM REIT) refers to a REIT that pools money from investors under one or more schemes as per regulation 26P (2). The regulation specifies the eligibility criteria for making an offer of units of the scheme for SM REITs.
Further, SEBI has broadened the definition of REIT under regulation 2(zm) of the existing regulations. The term ‘REIT’ means a person that pools Rs. 50 crores or more to issue units to at least 200 investors to acquire and manage real estate assets or properties, which 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 assets or properties.
Click Here To Read The Full Notification
The post SEBI Amends REITs Regulations, 2014 | Introduces a New Chapter on ‘Small and Medium REITs’ appeared first on Taxmann Blog.
