The development of graphene and graphene-like materials has been a breakthrough in the field of nanotechnology for its exceptional properties. It exhibits extraordinary properties owing to its unique, regular arrangement of carbon atoms in it. However, graphene is usually modified for specific applications, by introducing disorder in the system. Since disorders are ubiquitous during the synthesis of graphene and graphene-like materials, it is best to exploit the defects for tuning its exceptional properties for suitable device applications. Like in any material, the disorder can drastically affect the properties, and hence they are deliberately incorporated into the material. In this review, we discuss topics related to the creation and configuration of disorders in graphene such as corrugations, topological defects, vacancies, adatoms and sp3- defects. The effects of these disorders on the electrical, thermal, chemical and mechanical properties of graphene are analysed subsequently. Finally, we review earlier works on the modulation of structural defects in graphene for specific applications.