I Told You So The Great Separation of 2026 Not another REIT update, but a forensic audit of how December's warnings became February's law—and what serious capital should do now By Arindam Bose ⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡ ⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡ Authors note: This piece is not a fresh thesis. It is a forensic audit of two earlier calls I made before the system printed them into law, land and tax tables. In December 2025, Post‑Strata, Pre‑2026: The SM REIT Negotiation Manual laid out the spine. SEBI codes, trustee controlled-SPVs, the 95% distribution mandate, and the coming 12 month tax weapon . In January 2026, DECODING THE TREND | Vol. 3- The GCC 2.0 Paradox argued that the Indian Arbitrage was dead and that Noida was four markets, with FAR-4 corridors to be bid as sovereign compute , not strata retail. February has now supplied the receipts: SEBIs two rosters, the first SM-REIT dividend cheques, the uniform 12.5% LTCG regime, a...
MICROWAVE BANKING THE 10-SECOND PROPERTY DEAL Programmable Money, Smart Contracts , and the Death of "Slow" Trust By Arindam Bose ⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡ ⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡⬡ The Instant Gratification Trap I still remember my parents' flat purchase in 2003. The entire process felt like a pilgrimage. My father sat with the lawyer for three separate meetings, each lasting hours, as they traced the title chain backward through six previous owners. The bank took eleven days to issue the NOC after "processing." The escrow agent —a chain-smoking man named Sharma-ji who worked out of a cramped office near the sub-registrar's building—kept calling my father to "just confirm one more time" about the builder's previous projects. It was tedious. It was inefficient. My father complained constantly. But Sharma-ji had seen things. He could smell a bad deal the way a sommelier detects corked wine. Once, he delayed a closing by four days becau...