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• Property Share has crossed INR 1,070 crore in assets under management across its three listed Small and Medium Real Estate Investment Trust (SM REIT) schemes.
• The company stated that its listed schemes have collectively distributed more than INR 68 crore to unitholders within 18 months.
• Property Share remains the only investment manager in India with listed SM REIT schemes following SEBI’s introduction of the framework in 2024.
• The portfolio includes nearly one million sq ft of Grade A commercial office assets across Bengaluru, Mumbai and Ahmedabad.
• Industry stakeholders said the SM REIT framework is improving retail investor access to institutional-grade commercial real estate assets through regulated investment structures.
Property Share has crossed INR 1,070 crore in assets under management (AUM) across its listed Small and Medium Real Estate Investment Trust (SM REIT) schemes, with cumulative distributions to investors exceeding INR 68 crore since launch, reflecting growing investor participation in India’s emerging regulated fractional commercial real estate market. Advertisement
The Bengaluru-based investment platform stated that its three listed SM REIT schemes collectively own nearly one million square feet of Grade A and Grade A+ commercial office assets spread across Bengaluru, Mumbai and Ahmedabad. The announcement comes ahead of the company’s planned launch of its fourth SM REIT scheme.
Property Share became the first entity in India to receive an SM REIT licence from the Securities and Exchange Board of India in August 2024 following the regulator’s introduction of the framework earlier that year. The company currently remains the only investment manager with listed SM REIT schemes in the country.
According to the company, its first listed SM REIT scheme, PropShare Platina, was launched on the BSE in December 2024 with an issue size of INR 353 crore. The scheme owns around 0.28 million sq ft of Grade A+ office space in Bengaluru’s Outer Ring Road market and has distributed approximately INR 40.6 crore to investors since inception. Property Share stated that the scheme has delivered an average pre-tax distribution yield of around 8.8%.
Its second listed scheme, PropShare Titania, was launched in August 2025 and owns approximately 0.45 million sq ft of Grade A+ office space in Thane, Mumbai. The company stated that the scheme has distributed nearly INR 28 crore to unitholders with an average pre-tax distribution yield of around 9%.
The third scheme, PropShare Celestia, was listed in April 2026 and owns around 0.21 million sq ft of Grade A commercial office space in Nehru Nagar, Ahmedabad. The company stated that the first distribution under the scheme is projected in June 2026 with an estimated pre-tax distribution yield of approximately 8.4%.
The SM REIT framework introduced by SEBI in March 2024 was designed to provide individual investors access to income-generating commercial real estate assets through regulated and exchange-listed investment structures. The framework allows participation in institutional-grade office assets with lower entry barriers compared to traditional commercial real estate ownership.
Kunal Moktan stated that the company had pioneered the fractional ownership platform model in India in 2015, which subsequently evolved into the regulated SM REIT structure following regulatory support. He noted that the SEBI framework strengthened investor protections through enhanced compliance standards, liquidity mechanisms and capital market access.
Hashim Khan stated that SM REITs represent a structural change in the manner in which retail investors can participate in commercial real estate investments. He added that regulated structures are helping improve transparency, professional management standards and accessibility to institutional-quality assets.
Industry estimates cited by the company suggest that nearly 40% of Grade A office stock across India’s top seven cities — currently valued at around USD 50 billion — could qualify for SM REIT structures. Market participants believe the framework could contribute towards further institutionalisation of India’s commercial real estate sector while increasing domestic investor participation in yield-generating office assets.
Property Share stated that its upcoming pipeline is expected to include fully leased commercial office properties backed by institutional occupiers, with the proposed fourth SM REIT scheme aimed at expanding investor participation within the segment.
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