Real estate mutual fund schemes: new regime sets eligibility, investment limits, valuation and disclosure obligations. Amendments insert Chapter VIA establishing a regulatory framework for real estate mutual fund schemes, defining real estate assets and valuers, requiring close-ended listed schemes, setting eligibility and personnel requirements, prescribing investment concentration limits and prohibitions on sponsor-related real estate and inter-scheme transfers, mandating valuation at cost on acquisition and periodic fair-value revaluations under Schedule IXB with NAV computed daily, and imposing governance, disclosure, accounting and reporting obligations on asset managers and trustees.
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Real estate mutual fund schemes: new regime sets eligibility, investment limits, valuation and disclosure obligations.
Amendments insert Chapter VIA establishing a regulatory framework for real estate mutual fund schemes, defining real estate assets and valuers, requiring close-ended listed schemes, setting eligibility and personnel requirements, prescribing investment concentration limits and prohibitions on sponsor-related real estate and inter-scheme transfers, mandating valuation at cost on acquisition and periodic fair-value revaluations under Schedule IXB with NAV computed daily, and imposing governance, disclosure, accounting and reporting obligations on asset managers and trustees.
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