REPL Secures SEBI Approval for ‘ImpactR SM-REIT’

New Delhi / September 26, 2024: Rudrabhishek Enterprises Limited (REPL), an integrated urban development and infrastructure consultancy, has received registration for Small and Medium Real Estate Investment Trusts (SM REITs) by the Securities and Exchange Board of India (SEBI). The approval, under the name ImpactR SM REIT, makes it the second SM REIT in India to receive this registration following the new regulations, a statement from the company said. 

SEBI first notified the regulations for SM REITs on March 8, 2024, setting out a regulatory framework aimed at streamlining Fractional Ownership Platforms (FOPs) and enabling wider participation in real estate investments. With this registration, REPL will serve as the investment manager for ImpactR SM REIT, the statement added. 

Commenting on the achievement, Pradeep Misra, CMD of REPL, said:”We are truly honoured to receive this prestigious registration from SEBI. This achievement reflects our relentless commitment to innovation and to shape India’s dynamic real estate landscape. The ImpactR SM REIT will open up structured and transparent investment opportunities, making real estate accessible to a broader base of investors. With our extensive experience in real estate and urban infrastructure, we are confident this step will create a transformative impact for our stakeholders and the industry at large. REPL has proven credential in design, development and project management of diverse real estate projects, including its marketing and turning it into a revenue generating asset.”

Misra further added that the SM REITs market will steer the Real Estate Industry by virtue of its quantum and growth momentum. As per the industry reports, SM REITs market is expected to exceed Rs. 4.98 lakh crores by 2026 (CBRE Report, Sept. 2024). The potential market for the SM REITs in India is over 300 million square feet of commercial office space.