NEW DELHI: Strata, a commercial real estate (CRE) investment platform, has filed an application for the small and medium REITs (SM REITs) license under the latest regulations issued by securities and exchanges board of India (SEBI).
The company will also initiate the migration of its eligible assets to SM REITs, as it aims to achieve a total assets under managemet (AUM) of Rs 2,000 crore by the end of FY25.
In 2023, SEBI had announced an introduction of SM REITs into the fractional ownership model (FOP), for all assets of over Rs 50 crore. Further to this, the regulator released a detailed framework in early 2024. This regulation has widened the scope for fractional ownership investment, including very large assets that were otherwise not possible due to technical and legal constraints.
Sudarshan Lodha, co-founder & CEO of the company said, “Our focus this year is to integrate eligible assets into SM REITs.”
The company claims to have over Rs 1,800 crore in transactions and AUM of over 4 million sq ft across Mumbai, Bengaluru, Pune, Hosur, Hyderabad, Chennai, Jaipur and Mehsana.
Strata is backed by institutional investors like Kotak Investment Advisors, Gruhas Proptech, Sabre Investments Elevation Capital, Mayfield and PropStack.
