New Delhi, May 16 -- The nascent small and medium real estate investment trust (SM Reit) industry suffered a shock when fractional property firm Strata surrendered its licence earlier this week. It's a strong signal on the regulatory purview of SM Reits. Is this a temporary glitch or a setback?

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Strata, a dominant fractional real estate platform, surrendered its SM Reit licence following a dispute with its developer-partner over a warehousing project in Hosur. Strata CEO Sudarshan Lodha obtained anticipatory bail from Madras high court on 22 April amid allegations that a company official had impersonated a Sebi official to get information from its project partner Avigna. The Securi...