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ARTICLE · 08 APRIL 2024

The Brick To Click Evolution Is Here: SEBI Notifies The Small & Medium REITS Framework

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The Securities & Exchange Board of India (SEBI) on 08 March 2024 notified the much anticipated Small & Medium Real Estate Investment Trusts (SM REITs) regime by way of an amendment...

IndiaFinance and Banking
Siddharth Shah
Siddharth Shah
Shikhar Kacker
Shikhar Kacker
Mansi Agarwal
Mansi Agarwal
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Introduction

The Securities & Exchange Board of India (SEBI) on 08 March 2024 notified the much anticipated Small & Medium Real Estate Investment Trusts (SM REITs) regime by way of an amendment (SM REITs Amendment) to the SEBI (Real Estate Investment Trusts) Regulations, 2014 (REITs Regulations). The SM REITs Amendment seeks to regulate, the hitherto unregulated fractional ownership platform (FOP) that offer fractional ownership to investors in underlying income generating real estate assets.

Background

In May 2023 SEBI issued a consultation paper on the "Regulatory Framework for Micro, Small & Medium REITs" (Consultation Paper). The Consultation Paper observed that in the past 2-3 years, there has been a proliferation of web-based platforms offering fractional ownership of real estate assets. These factional ownership platforms (FOPs) provided investors with the option to invest in residential, commercial buildings and office spaces with a minimum investment

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