Industry associations and corporate property developers are giving shape to the country's first and only property manual fund (PMF). The fund, to be called Housing & Urban Development Infrastructure Fund (Hudif), is awaiting clearances from statutory authorities, according to a press release here yesterday.
The details of the fund, including pricing, listing on major stock exchanges and property price indexing are being worked out.
Hudif will combine the capital of several investors to acquire property or finance property development. The value of the unit of instrument will be determined by the underlying asset value of the property, the dividend yield and anticipated growth from operations. The Hudif units will be freely traded on bourses.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app