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CCI sees influx of real estate complaints following DLF penalty

By  |  March 26, 2012
CCI sees influx of real estate complaints following DLF penalty

The Business Standard reports that there has been a recent influx of complaints lodged against real estate players at the Competition Commission of India. Complainants are encouraged by the DLF penalty handed down by the CCI. An official estimates that at least 200 letters have been received, but they mostly address delays in delivery and buyer-builder agreements. Thus six real estate cases in the past two months have been dismissed because they did not have dominant shares in the market. Sections 3 or 4 of the Competition Act are intended to address those anticompetitive actions and abuses by dominant players.

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    To remedy the complaints lodged against the industry, the National Real Estate Development Council plans to draft a national agreement to serve as a model buyer-builder agreement.

    Full content: Business Standard

     

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