Securities and Exchange Board of India (Real Estate Investment Trusts) (Second Amendment) Regulations, 2026

7927 GI/2026 (1)
REGD. No. D. L.-33004/99 xxxGIDHxxx xxxGIDExxx EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 12th October, 2026
SECURITIES AND EXCHANGE BOARD OF INDIA (REAL ESTATE INVESTMENT TRUSTS) (SECOND AMENDMENT) REGULATIONS, 2026 No. SEBI/LAD-DOP/2026/328.— In exercise of the powers conferred under Section 30 read with Sections 11 and 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, namely: –

1. These regulations may be called the Securities and Exchange Board of India (Real Estate Investment Trusts) (Second Amendment) Regulations, 2026.
2. They shall come into force on the date of their publication in the Official Gazette.
3. In the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, ─
   No.622] NEW DELHI, WEDNESDAY, OCTOBER 14, 2026/ASVINA 22, 1948 s 1947 CG-MH-E-15102026-277185

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
I. in regulation 2, in sub-regulation (1), in clause (zi), the words and symbol “for composite real estate projects, industrial parks and SEZ” appearing after the words “common infrastructure”, shall be omitted.
II. in regulation 14, after sub-regulation (12), the following sub-regulation (12A) shall be inserted, namely, -
“(12A) Depository Receipts may be issued on units of a REIT subject to compliance with these regulations and in such manner as may be specified by the Board.”
III. in regulation 18, in sub-regulation (5), clause (k) shall be omitted.
IV. in regulation 22,
(a) in sub-regulation (6A), the words and symbols “from seventy five per cent. of the unit holders by value excluding the value of units held by parties related to the transaction, is obtained:” shall be substituted with the words and symbols “is obtained from the unitholders, where the votes cast in favour of the resolution shall be at least seventy five per cent. of the total votes cast for the resolution, excluding the votes cast by the parties related to the transaction:”. (b) in sub-regulation (8),
i. clause (a) shall be substituted with the following, namely, -
“(a) prior to such changes, approval shall be obtained from the unitholders, where the votes cast in favour of the resolution shall be at least seventy five per cent. of the total votes cast for the resolution, excluding the votes cast by the parties related to the transaction;”
ii. in clause (b), after sub-clause (iii), the following sub-clause (iv) shall be inserted, namely, -
“(iv) in case of an exit of a sponsor in a REIT with multiple sponsors, the outgoing sponsor or its sponsor group entities or any of the continuing sponsor or its sponsor group entities shall provide the dissenting unitholders an option to exit by buying their units in the manner specified by the Board.”. BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./391/2026-27]

[PART III—SEC.4] THE GAZETTE OF INDIA : EXTRAORDINARY 3 Note:
The Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 was published in the Gazette of India on September 26, 2014 vide notification No. LAD-NRO/GN/2014-15/11/1576 and was last amended on April 18, 2026 by the Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2026 vide notification No. SEBI/LAD-NRO/GN/2026/302. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.