Fractional ownership platform hBits plans to register with the Securities and Exchange Board of India as a ‘small and medium real estate investment trust’ (SM REIT) in the next three weeks. The SM REIT regulations were notified by SEBI in March and several fractional platforms are readying their REIT structures; hBits intends to be first off the block, according to its founder and CEO, Shiv Parekh. After registering as an SM REIT, funds are raised asset by asset. “Every month we will be launching an asset,” Parekh said. The notification of SM REIT regulations has created more investor interest in such platforms, Parekh said, pointing out that it has created legitimacy and trust.

Source: The Hindu May 01, 2024 20:41 UTC