A PYMNTS Company

CCI sees influx of real estate complaints following DLF penalty

By  |  March 26, 2012

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full content: Business Standard

     

    Related content: Competition Commission of India’s Trysts with Law and Policy: Enforcement One Year On (Pallavi Shroff & Harman Sandhu, Amarchand & Mangaldas & Suresh A Shroff & Co)