The Shapoorji Pallonji group in a statement on Monday claimed that it was waiting for a notification from the state government and assured that it would adhere to the passed Act in regard with the advertisement that does not fall in lines with the the Real Estate (Regulation and Development) Act, 2016 (RERA).
It further claimed that the standard disclaimer which was published in the advertisement adhere to the current regulations and it did not intent to flout any of the present regulations. "We are aware about the Real Estate (Regulation and Development) Act, 2016 (RERA) which is likely to become effective in the entire country from May 1, 2017. We welcome RERA and have all the intentions to follow the rules finalised in the ACT as and when it is been passed and approved in different states. We are keenly awaiting the same notification in Kolkata from the state government and be rest assured that we will adhere to the passed ACT. Our initiatives in a particular state are governed by the rules and regulations in that particular state which at all times we are in full adherence of. Currently, our advertisements carry standard disclaimers which adhere to the current regulations and we are not flouting and do not intend to flout any of the present regulations," read a statement.
"As on the part of the Shapoorji Pallonji Group, a multi business conglomerate, with a 151 year legacy, kindly be rest assured that Shapoorji Pallonji Real Estate endeavours to build trust and reliability with every project and nurtures relations with our potential customers with every delivery," the statement further added.