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SEBI clarification on real estate MFs

MUMBAI: The Securities and Exchange Board of India on Friday said real estate mutual funds can invest in properties located in million-plus cities and urban agglomerations. Issuing a clarification, SEBI said the cities for investment by real estate mutual funds would include 35 cities in million-plus urban agglomerates and 27 under the million-plus category as per the Census 2001.

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