 "SEBI")
Only a handful of fractional ownership platforms (FOPs) have migrated to the new Securities and Exchange Board of India (Sebi) norms for Small and Medium Real Estate Investment Trusts (SM-Reits).
According to the data on market regulator’s website, only one FOP, Property Share Investments, had secured a license, while five more applications were pending, including those from hBits and WiseX as of August 31.
The deadline for migration from FOP to the newly introduced SM-Reit framework — cleared by the Sebi board in November 2023 and notified in March – ended on September 8.
Industry players say the low uptake
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