Does SEBI regulate all fractional real estate platforms in India?

“No. SEBI regulates platforms that register as SM REIT Investment Managers and list their scheme units on stock exchanges. Trust/SPV platforms operating under the Indian Trusts Act, 1882 are not SEBI-regulated under the SM REIT framework. However, they are governed by the Indian Trusts Act, 1882, PMLA, 2002, and other applicable laws.”