CCI rules out abuse of dominant position by Omaxe
Jan 29, 2014
Source : The Economic Times

 

DELHI: Fair trade regulator CCI has rejected a complaint that alleged realty firm OmaxeBSE 0.49 % of indulging in anti-competitive practices with respect to development of residential plots in Sonepat district of Haryana.

The complaint by two individuals had alleged that Omaxe had abused its dominant market position by imposing one-sided and anti-competitive agreements on buyers of plots, among others.

Citing that Omaxe was not dominant in the relevant market, the Competition Commission of India (CCI) in an order dated January 21 said, "No prima facie case is made out for directing Director General to carry out investigation into the matter".

The complainants, who had registered for plots with Omaxe, had alleged the firm made a representation to the public at large regarding a real estate project without specifying the details and identity of the property.

Among others, it was also alleged that under the agreement, there was no exit route to buyers of plots in case of violation of terms on part of Omaxe and the company would not have to face any consequences for same.

The CCI said the presence of other real estate players in Haryana made it a competitive market.

"There is no information on record and available in the public domain which shows a position of strength of opposite party (Omaxe) enabling it to operate independent of competitive forces prevailing in the relevant market," the fair trade regulator said.

Latest Realty News

Land price on a high as DDA set for pooling policy
Jan 28, 2014
DELHI: Land prices on the outskirts of Delhi have risen significantly and in many cases have as much as doubled over a period of 18 months following the announcement of land pooling policy by Delhi Development Authority (DDA). The prices may rise further, once the finer details of the policy are out. The final policy is expected within a month.
Why integrated townships are the way forward
Jan 28, 2014
DELHI: In today’s real estate scenario, the trend seems to be leaning towards integrated townships. Is there a demand for it? If so, what are the key drivers? And more importantly, what comprises a truly integrated township?
Greater Noida West: Ideal destination for midrange homebuyers
Jan 28, 2014
DELHI: The skyline of Greater Noida West, formerly known as Noida Extension, has changed drastically and is now adorned with residentialproperty units—from imposing highrise projects to neat and well-laid out low-rise structures—projected to house nearly 10 lakh people in the near future.
Project money being diverted to fund poll campaigns, realtors fear labour crisis too
Jan 28, 2014
DELHI: In Noida, part of the National Capital Region and home to a burgeoning middle class, a builder is wondering where he'll find the money to finish building about 1,200 apartments that are to be delivered by the middle of next year. Unless he can find some cash, the construction will grind to a halt. But all the usual sources of funds have dried up, at least until the general election is over.
Infrastructure projects to get a boost in Noida
Jan 27, 2014
DELHI: The Noida Authority, one of the richest civic bodies in the country, plans to draft a budget of Rs 8,000 crore for the financial year 2014-15 with various infrastructure projects, including the setting up of the Noida Metro Rail Corporation (NMRC).
Haryana barred from issuing land-use licences in NCR
Jan 27, 2014
DELHI: The Punjab and Haryana high court on January 23 directed the Haryana government not to issue any change of land use (CLU) licence to developers to build colonies in Gurgaon and the National Capital Region till the NCR Planning Board approves a sub-regional plan.
Realty a better buy in smaller towns
Jan 27, 2014
DELHI: Smaller towns and cities closer to metros and industrial hubs are seeing significant housing demand, on the back of lower land cost and increased prosperity. This is in sync with the earnings of HDFC, which cited growth in retail loans across smaller towns, for posting good numbers for the third quarter.
Infrastructure projects to get a boost with Noida Authority's Rs 8,000 crore budget
Jan 27, 2014
NOIDA: The Noida Authority, one of the richest civic bodies in the country, plans to draft a budget of Rs 8,000 crore for the financial year 2014-15 with various infrastructure projects, including the setting up of the Noida Metro Rail Corporation (NMRC).
Raghuram Rajan may hold rates; EMIs to stay unchanged
Jan 27, 2014
DELHI: Supported by falling inflation rates, the Reserve Bank of India (RBI) is widely expected to keep its key lending rate, the repo rate, unchanged at 7.75% in its monetary policy review on Tuesday, temporarily warding off fears of an immediate hike in consumer and home loan EMIs.
Land development: Need for government’s role change
Jan 27, 2014
DELHI: In a developing culture, there is a need for land development, which focuses primarily on converting the pre-existing land into something useful. For example, for converting semi-natural estates, such as factories, into livable spaces, such as condominiums, changes in certain land reforms are needed.

Latest Realty News Of State

Realty Talk's