Regulation 49F - Valuation of real estates assets and declaration of net asset value - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

1 [ Valuation of real estates assets and declaration of net asset value 49F. (1) The real estate assets held by a real estate mutual fund scheme shall be valued (a) at cost price on the date of acquisition; and (b) at fair price on every ninetieth day from the day of its purchase in accordance with the norms specified in Schedule IXB. (2) The asset management company, its directors, the trustees and the real estate valuer shall ensure that the valuation of assets held by a real estate mutual fund scheme are done in good faith, in accordance with the norms specified in Schedule IX B and that the accounts of the scheme are prepared in accordance with accounting principles specified in Schedule XI. (3) The net asset value of every real estate mutual fund scheme shall be calculated and declared at the close of each business day on the basis of the most current valuation of the real estate assets held by the scheme and accrued income thereon, if any. ] ************* NOTES:- 1 Inserted by the SEBI (Mutual Funds) (Amendment) Regulations, 2008, w.e.f. 16-4-2008.