BPTP Limited wins the case in CCI for the Astaire Garden project in Sector 70A, Gurgaon
There is some good news for BPTP Limited as the Competition Commission has rejected allegations that real-estate firm BPTP Limited and its subsidiary Countrywide Promoters had abused their dominant market position. This was with respect to development and sale of residential apartments in Gurgaon.
An individual had filed a complaint against BPTP Limited that they had imposed unfair terms and conditions in the ‘Builder Buyer Agreement’. In an order dated July 7, the Competition Commission of India (CCI) closed the case stating that no prima facie case of contravention of the provisions of the (Competition) Act is made out against the opposite parties.
The main reason behind the closure of the case was that there were several other real estate developers such as DLF, Ramprastha Group, Anantraj Group, and Earth Infrastructure Group which are operating in Gurgaon. Hence BPRP Limited had not wiped out competition in any way.
The CCI order stated that the land bank’ of BPTP in Gurgaon is around 778 acres while land bank of other players is also not very insignificant. The case relates to BPTP’s project ‘Astaire Garden’ in Sector 70A, Gurgaon wherein the complainant had booked a residential unit.
According to CCI, with such land bank, the opposite parties had huge size or resources or any other advantage which had allowed them to work independently and the CCI did not find any breach in the development and sale of residential apartments in Gurgaon.
Source- The Financial Express
BPTP, Builder-buyer agreement, Business Park Town Planners (BPTP), Competition Commission of India, Competition Commission of India (CCI), real estate firm BPTP
