Competition Commission of India (CCI) frames a new buyer real estate developer agreement which the fair trade regulator hopes to become a standard agreement. The revised agreement is expected to meet almost all the issues related to real estate sales.
CCI hopes to tackle the future problems between the real estate developers and the buyers through their new agreement for real estate sales.
Competition Commission of India (CCI) prepares a model framework for commercial agreements between the property purchaser and the real estate builder. The fair trade regulator CCI hopes this framework to serve as a standard for the real estate industry.
CCI prepares the model framework in relation with violation of market dominance case against DLF. The real estate major was fined Rs.630 Cr penalty by CCI. The real estate major had appealed to the Competition Appellate Tribunal (COMPAT) against this fine. Continue reading
Real estate firms are facing the CCI- probe. The Competition Commission of India (CCI) has started their probe against five real estate firms which are alleged of anti-competitive practices.
Anti- competitive practices burn the real estate builders as they get fined.
Five real estate firms are alleged of conducting anti-competitive practices. The real estate players like DLF, JP Associates, Omaxe, Tulip Infratech and Larsen & Toubro are alleged of anti-competitive practices.
Corporate Affairs Minister Sachin Pilot informed the RS- Rajya Sabha that the CCI has started its probe against the alleged real estate builders. He disclosed the names of the real estate players who are alleged. Continue reading