India's first Small and Medium Real Estate Investment Trust (SM-REIT) is expected to be listed on stock exchanges within the next six months, enabling small investors to have fractional ownership of rent-yielding properties by investing as low as Rs 10 lakh, according to NAREDCO. Addressing a webinar on Wednesday, realtors' body NAREDCO President G Hari Babu said, "We are expecting the launch of first SM-REIT by September-October". Last month, the Securities and Exchange Board of India (Sebi) had notified the framework for SM REITs. Investors can now have fractional ownership of rent-yielding real estate assets by making a minimum investment of Rs 10 lakh, with markets watchdog Sebi notifying the amended regulations for real estate investment trusts. Hari Babu highlighted the benefits of SM-REITs and said small investors can now invest in rent-yielding real estate assets and earn both rental income as well as capital appreciation. NAREDCO Chairman Niranjan Hiranandani hailed the n