CCI Asks 20 Realtors To Respond To A Report That Shows Companies Engaged In Unfair Trade Practices

On the 5th of August, 2014 the CCI asked 20 Realtors to respond to a report of the Director-General which stated that the builders engaged in malpractices such as:

1) Non- disclosure of crucial information about built-up area
2) The builders often reserved the right to increse or decrease
appartment sizes.
3) Non-disclosure of applicable laws, rules and regulations.
4) Restrictions on the Rights of the buyers.

CCI has asked for response from various Real Estate Developers including Unitech, Amrapali Group, Supertech and so on.

The matter would be heard in September by the CCI. The applicable laws are sections 3(3)(a) and (b) of the Competition
Act, 2002 which deals with Cartelisation.The CCI is acting on a private complaint by an individual named Jyoti
Swarup Arora who filed the complaint against Gurgaon based builder Tulip Infratech.
 

SOURCE:  www.economictimes.indiatimes.com