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Old August 24 2011, 03:50 PM   #11
 
 
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Great . CCI looks to be going Hammers & tongs after all the errant Builders .

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Old August 24 2011, 09:19 PM   #12
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Yeah, this is a positive step. Skeptical are talking about CCI rights and jurisdictional capacity for this order but as an end user I am happy to see that something started somewhere.

I have dealt with BPTP in past. It was a horrible experience.
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Old August 24 2011, 09:42 PM   #13
 
 
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If CCI & the Govt. r real serious on this, better days could be ahead for end users/investors .
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Old August 24 2011, 11:57 PM   #14
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Quote:
Originally Posted by MANOJa View Post
If CCI & the Govt. r real serious on this, better days could be ahead for end users/investors .
lets hope so !!! and trust me if there is transperancy and SANE clauses in BBA's of new launches and under construction projects , the fear of under construction project investment for investment purpose or end use would fade , and it would be very good for the sake of investors , end users as well as builders as people investing would only grow and so will the market

Fingers crossed!!!
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Old August 25 2011, 12:22 AM   #15
 
 
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I know, let's hope for the best . Keeping my fingers crossed too .

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lets hope so !!! and trust me if there is transperancy and SANE clauses in BBA's of new launches and under construction projects , the fear of under construction project investment for investment purpose or end use would fade , and it would be very good for the sake of investors , end users as well as builders as people investing would only grow and so will the market

Fingers crossed!!!
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Old August 25 2011, 12:46 AM   #16
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It is very positive development .. Let CCI do the job if govt fails to bring Real estate regulatory bill... Hope CCI decision moves further and just don't die in court cases...

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I know, let's hope for the best . Keeping my fingers crossed too .
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Old August 25 2011, 10:07 AM   #17
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Hi Friends,
As I am facing similar (DLF like) situation in Omaxe Palm Greens in Greater Noida, I visited CCI office yeaterday. Currently they take cases where the player has dominance factor in his sector, likde DLF is having more than 48% land bank in Gurgaon alone. To catch hold of many smaller sized builders, they have requested for bringing real estate regulatory bill. They seems to be very positive about their appeal for formation of real estate regulatory bill. I hope this will be cleared in 1-2 years...seeing the speed of our Govt. Lets hope for best...

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It is very positive development .. Let CCI do the job if govt fails to bring Real estate regulatory bill... Hope CCI decision moves further and just don't die in court cases...
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Old August 25 2011, 04:03 PM   #18
 
 
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Default DLF judgement fallout: How homebuyers can benefit from CCI verdict

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Old August 25 2011, 04:05 PM   #19
 
 
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Default Realty Firms Gang Up

Realty Firms Gang Up & Mull Legal Action Against CCI Order Against DLF For Abuse of Dominance


The real estate industry, already reeling under falling profit, high interest rates and steep input costs, seems to be sticking together, fearing further action from the Competition Commission of India (CCI).
The competition watchdog had recently imposed a penalty of Rs 630 crore on real estate major DLF over "abuse of dominant position" in relation to two high-end housing projects in Gurgaon. Delayed delivery of projects and changes in the building structure were among the charges levelled against the developer. While DLF is contemplating legal action against the order, CCI may come out with similar orders against many other real estate companies.

"It seems all developers are getting together to work out a joint strategy to combat this," an analyst told Business Standard. Another industry insider said: "If the order has hit one company, it would affect others soon."

It is also learnt the government is sitting up on this issue, and may take steps soon to regulate the industry. A real estate regulatory bill has been pending with the government for a while. Most industry representatives are opposed to the proposed bill.

Industry stakeholders claimed the agreements between home buyers and developers were not one-sided and there was extremely limited scope of exploitating consumers.

National Real Estate Development Council director general R R Singh told Business Standard: "The industry is definitely together (on the issue), as the case would have implications on the sector as a whole. Builder-buyer agreements are being used by everyone, be it private players or the government development authorities."
Developers in Maharashtra, one of the biggest realty markets in India, said since agreements are drafted as in the Maharashtra Ownership of Flats Act, there is very little scope of exploitating buyers.

"Basically, there is a standard agreement described by the Act. Therefore, there cannot be violation which can come under the purview of CCI. It is mandatory to follow the Act," said Lalit Kumar Jain, national president, Confederation of Real Estate Developers Association of India.

On the CCI penalty on DLF, Jain said: "The CCI verdict conflicts consumer redressal forums. Already, the Consumer Protection Act is there. I don't know whether it (CCI penalty) is an infringement on the provisions of the Act."

"The Constitution does not allow ignorance of law. When a consumer signs the law, he should read it. If he does not think it is legal, he should not sign it."
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Old August 25 2011, 04:26 PM   #20
 
 
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Hi
Cheers

Excellent stuff.. clearly outlines

Purview of CCI
Application Process
Address for sending the application
Fees applicable
How to submit fees
Where to ask for any help in doubt..

I am sure CCI will be loaded with complaints.

fees to be paid
Fee to be paid
The information should be accompanied by proof of paying the fee. This is 5,000 for an individual, HUF, NGO or consumer association; 20,000 for firms, companies having a turnover of up to 1 crore in the preceding year; and 50,000 in case of others.
The fee can be paid through a demand draft, pay order or a banker's cheque, payable in favour of the Competition Commission of India (Competition Fund), New Delhi, or through the Electronic Clearance Service (ECS) by direct remittance to the CCI accounts. These can be either: Account No. 1988002100187687, Punjab National Bank, Bhikaji Cama Place, New Delhi-110066 ), or Account No. CLCA01100002, Corporation Bank, Bhikaji Cama Place, New Delhi-110066 .


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