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India: Review of Buyers-Sellers Agreements to deter developers’ monopolies

By  |  October 26, 2012

The Competition Commission has responded to the Apartment Owners Association’s request for the antitrust authority to look into the alleged dominance of developers in the Buyers-Sellers Agreements, asking for modifications. The Apartment Owners Association was founded with the purpose of providing information on rules and regulations against developers’ exploitation. The association argues the agreement threatens consumer welfare, with experts highlighting the agreement’s terms where buyers pay up to 18 percent interest on installment defaulting, but only two percent interest in the case of a delivery delay.

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