DLF under Continuous Scanner for Abusing Competition
Anti-monopoly watchdog CCI has again accused India's largest real estate firm DLF of abusing its dominant market position and imposing unfair conditions on home buyers, this time in its high-end residential project Magnolia in Gurgaon. The order was came up on a complaint filed by Magnolia Flat Owners' Association against DLF Universal, Haryana Urban Development Authority and the Director Town and Country Planning, Haryana, with the Competition Commission of India (CCI). DLF is a big name and holding the dominant position in the sector for development and construction of residential and commercial complexes in Gurgaon Region of Haryana, which CCI took as the relevant or geographical market for determining the dominant position in terms of the provisions of the Competition Act. It was found on report of DG that DLF issued allotment letters and apartment buyer’s agreements were signed even before it got approvals from the town planner. The builder also revised the build...