A number of builders are being probed by CCI for their alleged anti-competitive trade practices. The upcoming order can put an end to the malpractices in the real estate segment.
In its bid to put a tab over unfair practices in the realty sector of the country, the Competition Commission of India is expected to set to finalise its order on alleged unfair business practices in the realty sector.
According to media reports, the CCI, which has already issued notices to a number of real estate entities with regard to the cases, has completed the personal hearings of these cases and hence it would soon be coming out with its order to address this issue.
Some of the unfair practices coming under the scanner of CCI include, alleged cartelisation and anti-competitive trade practices being done in the real estate segment.
As the CCI is seriously looking into the matter, it is likely to create a healthy atmosphere for the overall growth of real estate segment and most importantly also reinstall confidence among the end consumers looking forward to investing their hard earned money in real the real estate segment.
As part of the probe being undertaken by the CCI, there are a number of developers which are being probed for injecting one-sided clauses in favor of their companies and against the interest of end customers.
If and when CCI comes out with its order, it will create a big example in front of the real estate segment and also press for much needed reforms that can make this sector even more lucrative for the end customers.
