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Real Estate Briefing - Categorized | Market Moves, Regulatory more

India: The real estate sector needs a stand-alone regulator to protect consumer interests

Posted on 22 August 2011

The Competition Commission of India (CCI) has fined DLF Rs 630 crore for abusing its dominant position in the market and imposing unfair conditions on home-buyers. It now wants to probe other realtors for unfair trade practices.
While it could be debated whether this is a matter for the competition authority, there can be no dispute that the issues raised by the regulator are entirely valid. DLF has been charged with brutal disregard of consumer rights and firming up sale agreements that are hopelessly one-sided……………………………………….Full Article: Source

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