The government has formed a committee to evolve a workable strategy for reducing the time taken in approval of real estate projects which could ultimately reduce the cost of houses by 25 to 40 per cent, minister of housing and urban poverty alleviation Kumari Selja said on Friday, May 11.
The Competition Appellate Tribunal (Compat) has said a new Bench will decide the DLF case wherein the realty major has challenged CCI’s Rs 630 crore penalty on it and the final hearing has been adjourned to July 18.
The Competition Appellate Tribunal (COMPAT) will today, November 9, hear…
After CREDAI now real estate developers body NAREDCO has approached the CCI seeking intervention against the alleged cement cartelisation hitting real estate developers.
When the CCI alleged that DLF misused its dominant market position and imposed unfair conditions on home-buyers of two of its many projects, the real estate fraternity, legal experts and others strongly questioned the basis of the CCI order.
As the realty major DLF moves the Compat to challenge the CCI penalty of Rs.630 crore, the real estate sector will soon get an answer as to whether their business falls under the service sector.
Realty major DLF has filed a petition with the COMPAT against the August 16 order of the CCI that imposed a fine of Rs.630 crore on the company for “abuse of dominant market position”.
Union minister for housing and urban poverty alleviation Kumari Selja has said that the Centre is expected to bring the real estate regulator bill in the winter session.
The Punjab and Haryana High Court has restrained DLF from selling or creating third-party rights in one of its towers located in DLF’s Horizon Centre, earlier known as City Centre, in Gurgaon.
Real estate industry body CREDAI on Saturday, September 3, opposed constitution of a regulatory body for the real estate sector, saying that it would become a “breeding ground for corruption” if implemented.