https://www.taxtmi.com/circulars?id=59166 The amendment inserts a new regulatory Chapter for real estate mutual fund schemes, defining "real estate asset" and "real estate valuer", prescribing eligibility for sponsors and personnel, requiring schemes to be close-ended and listed, and mandating banking-channel transactions. It sets concentration and sponsor-related investment prohibitions, requires initial cost recognition and periodic fair value measurement using two independent valuers (lower valuation to be used), daily NAV calculation based on current valuations, and detailed governance, custody, insurance, accounting and disclosure obligations for asset managers and trustees. en-us Fri, 02 May 2008 00:00:00 +0530 Thu, 17 Jan 2019 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=59166 The amendment inserts a new regulatory Chapter for real estate mutual fund schemes, defining "real estate asset" and "real estate valuer", prescribing eligibility for sponsors and personnel, requiring schemes to be close-ended and listed, and mandating banking-channel transactions. It sets concentration and sponsor-related investment prohibitions, requires initial cost recognition and periodic fair value measurement using two independent valuers (lower valuation to be used), daily NAV calculation based on current valuations, and detailed governance, custody, insurance, accounting and disclosure obligations for asset managers and trustees. Circulars SEBI Fri, 02 May 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=59166