Realty firms under CCI scanner

The Competition Commission of India (CCI) has decided to investigate if various developers are misleading the buyers, apart from looking into specific complaints against the market leader, DLF in an attempt to check the rampant malpractices in the realty sector.

CCI has also decided to look into complaints of misleading advertisements, after taking note of the general complaint of delayed possession, change in terms and conditions of sale agreements and developers making it almost impossible for a customer to opt out.

On the basis of complaints from individuals who have booked flats from various developers, CCI has referred the complaints against DLF to the director general-investigations for a probe.

The commission, which became fully functional last July, is empowered by an Act of Parliament to penalise the guilty or ban a prevalent malpractice.