Real estate mutual fund scheme conditions limit units, prohibit use rights and lending, require listing and banking transactions. Regulation requires real estate mutual fund schemes to be close-ended with units listed on a recognized stock exchange, allows staggered redemption, voids ... Summary
Real estate mutual fund scheme conditions limit units, prohibit use rights and lending, require listing and banking transactions.
Regulation requires real estate mutual fund schemes to be close-ended with units listed on a recognized stock exchange, allows staggered redemption, voids any unit-holder right to use scheme real estate, mandates custody of title deeds with the custodian, prohibits lending or housing finance activities, and requires that all financial transactions be routed through banking channels with no cash or unaccounted transactions.
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