Amendments to SEBI Real Estate Investment Trusts Regulations: The key changes include the definition and conditions related to “common infrastructure” for REITs, and modifications to the definition of “cash equivalent.” The regulations also address filling vacancies for independent directors, specify trustee responsibilities, and detail conditions for transferring locked-in units held by sponsors. It also outline eligible investments for REITs, including property management companies, liquid mutual funds, and interest rate derivatives, subject to certain conditions. It also introduce provisions related to Small and Medium Real Estate Investment Trusts (SM REITs), including initial offer processes, scheme offer documents, pricing, and allotment procedures. (SEBI Notification Dated 22/04/2025)