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Home > India > Business > PTI > Report

Sebi norms on realty MFs likely in 15 days

April 04, 2008 12:05 IST

Market regulator Securities and Exchange Board of India is likely to issue guidelines for real estate mutual funds that will enable the investors in the market to access the realty sector that has witnessed impressive growth in the last few years.

"The guidelines on real estate mutual funds can be issued any time, the maximum time limit to issue the guidelines is 15 days," Sebi Whole Time Member T C Nair said in New Delhi on Friday.

He said all the legal issues, including accounting and valuation, have been resolved and Sebi is ready to issue the norms. 

Welcoming the move, Association of Mutual funds in India Chairman A P Kurian said: "These funds could be close ended and interval funds."

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