MUMBAI, MAR 13 : India’s mutual fund (MF) investors will have to wait a little longer before investing in real estate schemes. The concerns of capital market regulator Securities and Exchange Board of India (Sebi), which had decided to go slow on initial public offerings (IPOs) of real estate companies, over the valuations of real estate mutual funds (REMFs) have not yet subsided.
A senior Sebi official, while confirming this, told FE, “Issues regarding the valuation of unlisted real estate companies is one area that still needs to be looked into.” Sebi has sent the proposal to the Institute of Chartered Accountants of India and is awaiting its feedback, it is learnt.
“It may take a while to clear the road blocks and the market may have to wait for a while to invest in REMFs,” the official said. REMFs will invest in the stocks of listed real estate companies or infrastructural projects and also in unlisted real estate companies.
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Super-rich drive Navi Mumbai realty
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