Competition Commission dismisses complaints against two realty firms
CCI has rejected complaints against two real estate developers -- Imperial Housing Ventures and ANS Developers.
New Delhi: Fair trade regulator CCI has rejected complaints against two real estate developers -- Imperial Housing Ventures and ANS Developers.
The allegations were dismissed after finding that the companies were not dominant in their respective relevant markets and that they did not violate competition norms.
In the case related to Imperial Housing Ventures, Competition Commission of India (CCI) considered 'provision of services for development and sale of residential apartments/ flats in Noida and Greater Noida,' as the relevant market.
Among others, it was alleged that Imperial Housing Ventures and other realty developers were luring customers with false offers by similar terms and condition in the buyer's agreements.
Rejecting the complaint, the watchdog said there are other major real estate players in the relevant market and Imperial does not possess market power to act independently of competitive forces and is therefore not dominant.
With regard to anti-competitive practices, CCI said "no cogent material evidences have been provided to substantiate the allegations".
In a separate order, similar complaint made against ANS Developers was rejected by the watchdog.
It was alleged that the company abused its dominant position by imposing unfair terms in the allocation of a plot of land to the informant for developing a hospital in Lucknow.
'Provision of services for development and sale of plots of land for providing medical facilities in Lucknow District of Uttar Pradesh,' was considered as relevant market by CCI.
"The presence of a number of players in the relevant market indicates that the buyers have options to choose plots for developing hospital from other developers," it said.
Both orders were issued on August 31.