An asset management startup known as Mpowered has sought the Securities and Exchange Board of India (SEBI) approval for setting up an alternative investment fund (AIF) which will allow retail investors to invest in commercial real estate for a promised return, reports say.

Mpowered, which recently raised $21 million from high-net-worth individuals, helps property owners convert their real estate liabilities into profit-generating ventures.

The AIF plan is to create a fund where individuals can invest their money in the multiples of Rs 25 lakh and get a certain percentage of return on the investment. Most of these investments would be having a rental yield.

The company typically looks at B and C grade of buildings and aims to convert them into A grade facilities. This is done by investing in them and implementing its various models on the properties as per the fitment in terms of size, location and infrastructure.