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Navi Mumbai Real Estate News

Competition commission probing 5 real estate companies

Competition commission probing one sided agreements of real estate firms.

English: Logo of DLF.
DLF logo

5 real estate companies-DLF,JP associates,Larsen and Toubro,Tulip infratech and Omaxe are the subject of an investigation by the Competition Commission of India for alleged anti-competitive practices.

Over 23 cases have been registered against these companies.

15 cases against DLF have already been concluded and the company has been fined over Rs.650 crores.

Flat purchasers can approach the CCI if they have been forced to sign one sided agreements favoring the builder,as is the case in most real estate deals these days.

The Competition Act has also been amended to give the CCI to whet all M&A (merger and acquisition) deals and search and seizure raids henceforth.


Mayur

Mayur is a real estate professional with more than 15 years of experience at all levels of the Real Estate trade in Navi Mumbai. When not involved in real estate, he is actively involved in social issues of the community where he lives. He can be reached on 9987452642

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