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We have obtained the
list of cities from the SEBI in which Real Estate Mutual Funds can buy property. So if you are a real estate speculator, then you may consider these cities.
Real Estate Mutual Funds can invest only in Properties in the following cities. Also note that, all transactions have to be settled through Cheque or RTGS. No Cash Component is permitted in these deals.
The first
list of 35 cities approved by SEBI for REMF investment is as follows,
Greater Mumbai, Pune, Nagpur, Nashik
Kolkata
Delhi, Faridabad
Chennai, Coimbatore, Madurai
Bangalore
Hyderabad
Vadodara / Baroda, Ahmadabad, Rajkot, Surat
Kanpur
Lucknow, Allahabad, Agra
Varanasi
Jaipur
Patna
Bhopal, Indore
Amritsar, Ludhiana
Kochi
Visakhapatnam
Vijayawada
Meerut
Jabalpur
Jamshedpur
Asansol
Dhanbad
Additionally
SEBI has allowed investment by Real Estate Mutual Funds in the following Muncipal Corporations.
Thane
Kalyan-Dombivli
Meerut and
Howrah.
So if you are planning to speculate with deep pocket and risk, the above cities are for you.
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