Competition Commission of India
The Competition Commission of India (CCI) has rejected a complaint regarding alleged abuse of dominance by real estate developer Supertech. The developer was cleared off charges as the fair trade regulator did not find any evidence to support the charges. CCI maintained that there was nothing on record indicating any evidence of dominance of Supertech. [...] Continue Reading »
The real estate developers made a charge of cartelisation among cement companies to the Competition Commission of India (CCI). According to the builders agencies, the cement makers have increased the prices by 50 percent in the past six months and by 20 per cent after the Union Budget. Before six months the cost of a [...] Continue Reading »
The city civil court witnessed about 3000 people summoned for a hearing in a case filed by L&T against the owners of the apartments of South City. In the case filed by L&T, asked for an injunction against the interfere of the South City Housing Apartment Owners Association (Sugruha) to the daily maintenance work. The [...] Continue Reading »
The Competition Commission of India (CCI), who takes care of fair competition between corporates has decided to step in for the home buyers’ aid. The panel has decided to come up with some rules which will stop the abuse by the developers to the buyers. There has been several instances of abuses in metro cities [...] Continue Reading »
The National Real Estate Development Council (NAREDCO) has said that construction costs have risen steeply at present. This northward going going price is due to the increase in the rates of cements. Real estate developers say that cement manufacturers have hiked the price of cement to nearly Rs 100 per bag which is a hike [...] Continue Reading »
The Realty Giant DLF is likely to approach the Compat (Competition appellate Tribunal) to challenge the order by Competition Commission of India (CCI) to pay Rs 630 crores penalty for the abuse of the dominant market position. This challenge on the order is on the basis of Competition Commission of India’s classification of DLF as [...] Continue Reading »
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 [...] Continue Reading »
Confederation of Real Estate Developers Association of India (CREDAI) opposed the Real Estate Regulation Bill 2011 to form a regulatory body stating that it would become a “breeding ground for corruption” if implemented. The Centre proposed the regulatory body to protect home buyers from fly-by-night developers. CREDAI further questioned the formation of any regulatory body [...] Continue Reading »
Various projects of large and well-known developers stretching from Greater Noida to Gurgaon are under the scanner of Belaire Owners’ Association after Competition Commission of India (CCI) slapped a penalty of Rs 630 crore on DLF for “unfair trade practices” and “abuse of market dominance”. According to the builder-buyer agreement in the Belaire case: “The [...] Continue Reading »
Flats owners of Park Place luxury housing project contested the arbitrary change in the housing plan done by DLF and accused the builder of misusing its dominant position as per the contract agreement signed between the flat owners and the builder. After the Competition Commission of India (CCI) order, the flat owners are joyous. “The [...] Continue Reading »
