Penalty on DLF
My Home Group, a local builder of Andhra Pradesh is all set to buy a 30-acre land parcel in Hyderabad’s Raidurg area for a whopping Rs 550 crore. DLF, India’s largest real estate developer, is the current owner of this land parcel and they are selling it to use the money to reduce their debt [...] Continue Reading »
A penalty of Rs 630 crore was imposed by the Competition Commission of India (CCI), holding the prestigious realty major DLF guilty of abusing its dominant market position with regard to a residential society in Gurgaon. DLF on Thursday moved to the Supreme Court against the Competition Appellate Tribunal’s order which was issued in May. [...] Continue Reading »
DLF, realty major, has been slapped a penalty of Rs 2.4 crore by the Competition Commission for not complying with its directions to cease and desist from unfair trade practices. Moreover, continued non-compliance would result in penalty of Rs 1 lakh every day, the fair trade watchdog said. Competition Commission of India (CCI) has imposed [...] Continue Reading »
As per the report, the Competition Commission of India has imposed a penalty of Rs 2.4 crore on DLF due to failure to comply with the regulators’ directions to cease and desist from unfair trade practices. CCI says that the “continued non-compliance” would obtain a fine of Rs 1 lakh per day. It further added [...] 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 »
The real estate giant DLF slapped Rs 630 crore fine. DLF had delayed construction of the project and increased the number of floors without informing buyers. The verdict on complaint filed by the Belaire Owner’s Association will relieve customers, who say sale agreements are heavily tilted in favour of the builder. The Competition Commission order [...] Continue Reading »
