Under the rules, the Net Distributable Cash Flow (NDCF) is computed at the level of real estate investment trusts (REITs), and infrastructure investment trusts (InvITs) and their holding companies (HoldCo) or special purpose vehicles (SPVs).
The trusts are required to distribute a minimum of 90 percent of the NDCFs at the level of the trusts and at the level of the HoldCo/SPVs. The revised framework for both InvITs and REITs will become applicable from April 1, 2024
Real Estate Investment Trusts: The new framework will come into effect from March 1, 2024, the Securities and Exchange Board of India (Sebi) said in three separate circulars.