Securities And Exchange Board Of India - Subsection
Section 19(3) in Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014
(3)With respect to purchase or sale of properties [***] [Omitted 'both prior to and' by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).] after initial offer,-(a)two valuation reports from two different valuers, independent of each other, shall be obtained;(b)such valuers shall undertake a full valuation of the assets proposed to be purchased or sold as specified under regulation 21;(c)Transactions for purchase of such assets shall be at a price not greater than, and transactions for sale of such assets shall be at a price not lesser than, [one hundred ten percent and ninety percent of the] [Inserted by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).] average of the two independent valuations [respectively] [Inserted by Notification No. SEBI/L.A.D.-NRO/GN/2016-17/022, dated 29.11.2016 (w.e.f. 26.9.2014).].
