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The capital market regulator Securities & Exchange Board of India (SEBI) has announced that it will regulate fractional ownership platforms (FOPs) offering real estate assets through SM REIT.
Small And Medium REITs: In November last year, the Sebi board cleared the amendments to the REITs Regulations, 2014, in order to create a regulatory framework for the facilitation of SM REITs, with an asset value of at least Rs 50 crore vis-a-vis minimum asset value of Rs 500 crore for existing REITs.
EFC (I): The board also approved establishment of EFC Estate, a wholly-owned subsidiary, for potential strategic partnership and investments in commercial real estate projects, IT Park projects.
Integrated co-working firm EFC (I) Ltd plans to form an investment manager entity to manage assets and investments of SM REIT through a wholly owned subsidiary EFC Ltd.