SM REITs: How ₹10 Lakh Buys a Slice of an Office Tower

For years, owning a slice of a gleaming Grade-A office tower in Mumbai or Bengaluru was the preserve of the very rich, the very patient, or the very connected.

This is not the old, murky world of "fractional ownership" WhatsApp groups.

A conventional REIT — think Embassy, Mindspace or Brookfield — pools dozens of large properties worth thousands of crores into one giant trust.

The key innovation is that each scheme under an SM REIT can hold just one asset or a tight cluster of assets, and is listed and traded separately on the exchange.

SEBI formalised this in early 2024 by amending its REIT regulations to create the SM REIT category.