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 →