Strata out of Sebi's SM Reit licence framework

Strata, one of India's largest fractional real estate platforms, has surrendered a crucial licence following a dispute with its builder-partner over a project in Tamil Nadu as well as allegations of a company executive impersonating a regulator.

- Neil Borate & Madhurima Nandy

MUMBAI/BENGALURU:

The Securities and Exchange Board of India (Sebi) on Wednesday said Strata has surrendered its small and medium real estate investment trust (SM Reit) licence, and cautioned investors about the dispute over the company's project in Hosur.

Strata had not launched any SM Reit scheme under the licence, Sebi said in a post on social media platform X on Wednesday.

A Strata spokesperson said the company had voluntarily surrendered its SM Reit licence without admitting or denying any wrongdoing, and that it intended to apply for a fresh licence after the litigation is concluded.