More Compensation Claimed by DLF Customers
Lawyers for the owners’ associations for Belaire and Park Place, the two DLF properties at the centre of the DLF case, are preparing a claim for more compensation, which could go as high as Rs.2,000 crore. DLF will likely contest the order on the grounds that CCI has wrongly interpreted the relevant market and thereby the company’s dominant position in that market.
The company, India’s biggest real estate firm by market value, has also said the Competition Commission of India (CCI) may have misjudged the nature of the end-users of the apartments.The CCI decision may be in conflict with the freedom of contract, which is guaranteed by law, said Supreme Court lawyer Anand Pathak.
There are 2,142 buyers in the two projects combined, which are running behind schedule by two years. While in the case of Belaire CCI imposed a fine, in the case of Park Place, where buyers had similar complaints, CCI asked DLF and its group companies to cease and desist from unfair practices. The complaints against DLF focused on two key issues—increasing the number of floors from 19 to 29, and delays in completion.
Belaire, Belaire CCI, CCI, Compensation, Competition Commission of India, DLF, DLF Customers, DLF properties, Freedom of contract, More Compensation, New Delhi, Owners’ associations, Park Place
