Competition commission probing 5 real estate companies

Competition commission probing one sided agreements of real estate firms.

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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.

By Mayur

Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors. When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy. With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google. He can be reached on 9987452642

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