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Strata SM REIT has surrendered its SM REIT license and will no longer represent itself as a SEBI-regulated intermediary under the Small and Medium Real Estate Investment Trusts (SM REITs) regulations.
SEBI clarified that Strata had not launched any schemes under SM REIT and had not migrated from its fractional real estate business.
Last year, SEBI introduced a new investment option for investors called Small and Medium Real Estate Investment Trusts (SM REITs). SM REITs are allowed to issue their units with asset value of at least Rs.50 crore. For existing REITs, such a limit is Rs. 500 crore. SM REITs should have at least 200 investors to start a fund. These REITs require a minimum ticket size of Rs.10 lakh.
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