Sebi issues list of cities for real estate MFs

Sebi issues list of cities for real estate MFs
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First Published: Fri, May 02 2008. 11 43 PM IST

Updated: Fri, May 02 2008. 11 43 PM IST
Mumbai: The Securities and Exchange Board of India (Sebi) on Friday released a list of cities where real estate mutual funds (MF) can invest.
The list includes 35 urban cities including Mumbai, New Delhi, Kolkata and Chennai, and 27 non-urban cities, with more than 1 million population.
On 25 April, Sebi allowed asset management companies to float funds that invest in real estate.
The move has paved the way for retail investors to take advantage of the boom in property prices by putting in far less amounts than it takes to buy a house or land.
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First Published: Fri, May 02 2008. 11 43 PM IST