hBits Seeks to Revolutionize Real Estate with SM REITs License
hBits, a fractional ownership platform, has applied for a small and medium REITs (SM REITs) license with the Securities and Exchange Board of India (SEBI). The company aims to increase its total assets under management (AUM) to Rs 10,000 crore over the ne
HbitsSm ReitsFractional OwnershipReal Estate InvestmentSebiReal Estate NewsAug 27, 2024
The SM REITs license will enable hBits to launch its inaugural REIT offering in the third quarter of the current financial year. The company expects to receive the license in the next couple of months and is gearing up to launch its first SM REITs. Upon the launch of its first SM REITs, the platform will also subsequently migrate its existing properties into SM REITs over the next few quarters.
hBits currently manages a portfolio of 14 properties across key cities, with an AUM of over Rs 365 crore. The company aims to increase its total assets under management (AUM) to Rs 10,000 crore over the next five years. This ambitious goal is a testament to the company's commitment to making real estate investment more accessible and affordable for the masses.
The SM REITs license will allow hBits to create a new asset class that is more inclusive and diverse. It will enable the company to offer a broader range of investment options to its customers, including retail investors. This, in turn, will help to deepen the Indian real estate market and provide a more robust platform for investment.
Frequently Asked Questions
What is the SM REITs license?
The SM REITs license is a license granted by the Securities and Exchange Board of India (SEBI) to companies that want to launch small and medium real estate investment trusts (REITs).
What is hBits?
hBits is a fractional ownership platform that allows individuals to invest in real estate with lower capital outlays.
What is the goal of hBits?
The goal of hBits is to increase its total assets under management (AUM) to Rs 10,000 crore over the next five years.
What is the benefit of SM REITs?
The benefit of SM REITs is that it allows for a more inclusive and diverse asset class, enabling companies to offer a broader range of investment options to customers, including retail investors.
What is the role of SEBI?
The role of SEBI is to regulate the securities market in India and protect the interests of investors.
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