CCI indicates inability to process real estate cases involving non-dominant market players

This was always on cards.
Many of the real estate buyers have attempted going through CCI route for justice but their requests have fallen flat.
In reference to one of its recent findings, CCI has come up with an indication of its inability to handle such cases where the builder does not hold a dominant position in the market, position against buyer notwithstanding.
The commission cited the reason of insufficient evidences for not penalizing builders of the likes of Amrapali, Ansal, BPTP, Omaxe, Oberoi Realty, Parsvnath Developers, Puravanakara, Supertech, Unitech and Tata Housing Development Company.
The commission however shared sympathies with the buyers and admitted the need for an immediate and better regulatory measure through means of legislation to give justice to the affected buyers.

Source: cci-pulls-up-21-builders-for-exploiting-buyers-but-lets-them-off

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Last updated: February 27, 2015 at 15:59 pm

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