Ad Realty M2K is planning to initiate legal action against some property aggregators and agents who were found to be marketing its projects without the company's consent and necessary regulatory approvals.
The company that has a string of realty projects in Delhi NCR decided to initiate the action after discovering that certain realty agents as well as property aggregators had listed some of its properties on their websites and were fraudulently claiming that they have been appointed by the company.
The company said it has identified websites such as adplots.visit.in and dwarkaexpressway.com which dubiously listed some of the projects still being planned by Ad Realty and for which the company is yet to receive approvals from concerned government bodies and authorities.
"Keeping in mind the interests and safety of our customers, we have decided to initiate legal action against websites and agents that are fraudulently using our brand name," said a company official.
He also added that the company is in an advanced stage of planning to launch new projects and they are yet to be even named or receive regulatory approvals from the Directorate General of Town and Country Planning in Haryana.
"Once the license is issued, we will begin the process of registering new projects and units with Haryana Real Estate Regulatory Authority (HA-RERA)," said the official.
Currently, the joint venture Ad Realty and M2K is selling residential units only at the Oyster Grande project in Gurugram. Ad Realty M2K will launch new projects officially in the next financial year.
"We are committed to bring India at par with the most advanced countries in the world through real estate development. We are integrating the finest design aesthetics with cutting-edge construction technology for the projects in India's most promising cities," said the official.
In less than a decade, Ad Realty has delivered 13 lakh square metres of space while another 13 lakh square metres is presently under various stages of development. The company has its presence in both residential as well as commercial real estate in Gujarat, Maharashtra and NCR.
It has partnered with Gurgaon based diversified M2K Group for the residential projects.
( With inputs from ANI )
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