Thursday, January 10, 2013

Re: [CROMA] CCI modified DLF Agreement clauses in favour of buyers

 

CCI has disallowed any additional construction beyond the approved building plan.
Group housing projects must be constructed in line with the layout plans, floor plans and specifications. Builders will also have to adhere to the compensation promised to the buyers in case of delay in construction or delivery of flats.
It also said the builder will no longer have sole ownership of open spaces within the residential project area not sold to the allottee and has suggested a joint ownership mechanism among the owners.
CCI had passed its original order on August 12, 2011 wherein it had held that DLF Ltd was a dominant enterprise and violated the provisions of the Competition Act "by entering into an agreement with apartment allottees that was one sided, abusive and unfair to the allottees."
Recently, CCI chairman Ashok Chawla had said the modified agreement in the DLF case could work as a model framework for commercial agreements between real estate developers and property buyers and could serve as a benchmark for the industry.
"Whether a real estate company is dominant or not, DLF was found to be dominant because it was big, most of them follow the same format pattern that flows from big players in the market," Mr Chawla had told PTI in an interview.
The CCI had passed its order against DLF following its inquiries into complaints filed by flat buyer associations of two DLF projects in Gurgaon, DLF Park Palace and The Belaire, alleging delays in the project and increase in the number of floors than planned earlier, among other things.

From: Rajat <rajat_ag@yahoo.com>
To: "CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in" <CrossingsRepublikOwnersAndMembersAssociation-CROMA@yahoogroups.co.in>
Sent: Thursday, 10 January 2013 1:36 PM
Subject: [CROMA] CCI modified DLF Agreement clauses in favour of buyers

 
Read this guys...

http://www.firstpost.com/business/dlf-in-no-rush-to-implement-cci-order-on-builder-buyer-pact-578166.html

DLF still acting like goons and other builders following DLF in unfair trade practice...


Regards,
Rajat


__._,_.___
Recent Activity:
For latest updates do visit official CROMA website at:
http://www.croma.org.in

Also, do register at the CROMA site, if not done already:
http://www.croma.org.in/member-registration/

[IMP: People posting ads for promotion of their business or of commercial-only nature will be banned/unsubscribed without any warning or clarification]
.

__,_._,___
Posted by GD