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Regulation 26T - Investment conditions - Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014Extract 1 [ Investment conditions. 26T. (1) The SPV shall directly and solely own all assets that are acquired or proposed to be acquired by the scheme of the SM REIT, of which SPV is the wholly owned subsidiary. (2) The scheme of the SM REIT shall invest at least ninety-five per cent. of the value of the schemes assets for each of its schemes in completed and revenue generating properties and shall not invest in under-construction or non-revenue generating real estate assets: Provided that up to five per cent. of the value of the schemes assets may be invested in liquid assets, which are unencumbered. (3) The scheme of SM REIT shall not be permitted to lend to any entity other than lending to its own SPV. (4) The SPV shall not be permitted to lend to any entity. ] ************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/166 dated 08-03-2024
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