CCI is to investigate 20 builders & realty body CREDAI

By Accommodation Times News Services

Unique IDs to track tax payments of housesCompetition Commission of India (CCI) is investigating some leading builders of the country like Unitech, Omaxe , Parsvnath , Purvankara, Oberoi Realty , Ansal API, Tata Housing, K Raheja Corp, BPTP and TDI, after receiving a complaint against NCR-based builders Tulip but is now investigating others also.

There are 20 builders and also builder’s body Confederation of Real Estate Developers’ Associations of India (CREDAI) in the investigating list of CCI for unfair practices followed by these builders in agreement with buyers. They are found to be inserting one-sided clauses against the interest of consumers in buyer agreements for sale of flats, apartments and other residential property.

The CCI’s investigation arm had also found that many builders did not disclose crucial information about the built-up area. They have issued notices following a detailed investigation by CCI over the various issues. Some of the companies have already submitted their written responses to CCI on this matter.

 





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