CCI Frames New Buyer-Developer Agreement for Fair Real Estate Sales
The Competition Commission of India (CCI) is probing five real estate firms, including DLF, for alleged anti-competitive practices, with DLF already facing a hefty fine.
The CCI has reprimanded DLF Ltd for unlawfully canceling an apartment allotment, imposing penalties for non-compliance with previous directives concerning allottees.
CCI accuses DLF of unfair conditions on Magnolia home buyers in Gurgaon, echoing previous cases.
India's thriving real estate market attracts small & medium-scale manufacturing companies to launch projects or monetize prime land assets.
The Competition Commission of India is addressing malpractices in real estate, focusing on misleading advertisements and consumer complaints against developers.