LUCKNOW, April 17 -- Taking serious note of misleading promotional schemes and 'assured return' offers by developers, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on Friday issued a public advisory cautioning homebuyers that such promises have no legal validity.

The authority warned that offers such as "assured returns" and "fixed monthly rental income before possession" are often not enforceable under the law, and urged buyers to exercise caution while investing in real estate.

The regulatory authority observed that some real estate promoters continue to publish alluring advertisements offering schemes like subvention plans, pre-EMI payments until possession, fixed rental income before completion, buyback guarantees, le...