CCI rejects complaint against market abuse DLF in Chennai

Reuters

The Association had claimed that after almost 18 months from bookings the flats and after paying crores of rupees, DLF "prompted the allottees to sign an agreement which is very unfair terms".

Dismissal of the Center, said the Commission procedures have been closed under "section 26(2) of the Act (competition)". Under this section the moderator a case close if it cannot find a prima facie evidence to proceed further.

DLF holds 51 percent stake in DLF southern homes. According to the informant, the developer an edge over other competitors scored by linking the price of Rs 2,800 per m² against prevailing market interest of Rs 3,200 per m² for comparable high turnout premium segment apartments.

Cutting speed, measured in 2009, DLF offered the apartments of the tariff of Rs 2,500 per m² for first customers and Rs 2,550 per m² for subsequent customers, depending on the order. The informant sought to create that DLF southern homes a dominant player in high rise premium apartments in the relevant market of the Corridor between two toll gates on this OMR gang was. However, the regulator said that the relevant geographic market cannot be limited to the OMR the corridor.

".. .the objective of the geographic market is the informant corridor OMR it is not acceptable. On the basis of the factors of supply and demand substitutability, the geographical area concerned in this case would be the field consisting of the entire geographical area of Chennai city, "said the order.

The information provided by the informant shows that within the OMR the corridor itself, there are a number of other builders who had started similar projects in that area, while DLF were involved in one project was, said the Commission.

PTI

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