SEBI amends REITs Regulations, 2014; introduces a new chapter on ‘Small and Medium REITs’

SEBI has notified SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2024. A new chapter VIB i.e. Small and Medium REITs has been inserted to existing regulations. The term “Small and Medium REIT” (SM REIT) refers to a REIT that pools money from investors under one or more schemes as per regulation 26P (2). The regulation specifies the eligibility criteria for making an offer of units of scheme for SM REITs. Further, SEBI has broadened the definition of REIT under regulation 2(zm).