Securities and Exchange Board of India (Real Estate Investment Trusts) (Second Amendment) Regulations, 2024

SEBI on 9th July, 2024 has issued the Securities and Exchange Board of India (Real Estate Investment
Trusts) (Second Amendment) Regulations, 2024. The amendment provides following directions for implementation of the new unit based employee benefit scheme:

1. The unit based employee benefit scheme shall be in the nature of employee unit option scheme.
2. Any offer of a unit based employee benefit scheme by the manager shall not result in any additional cost to the REIT, its HoldCo and SPV.
3. The unit based employee benefit scheme shall be implemented through a separate employee benefit trust which shall be created by the manager.