GUIDELINES FOR REAL ESTATE MUTUAL FUNDS APPROVED BY SEBI

SEBI has approved the guidelines for Real Estate Mutual Funds (REMFs). The structure of the REMFs, initially, shall be close ended. The units of REMFs shall be compulsorily listed on the stock exchanges and NAV of the scheme shall be declared daily. The REMFs shall appoint custodian who shall be registered with SEBI and shall safe keep the title of real estate properties held by the REMFs.