[Read another blockbuster story of how builders like Mr Navin Raheja & Raheja Developers (also Chairman of NAREDCO) are launching an unfair and illegal battle against independent property analysts like us, and how you can help fight back at http://comments.gurgaonscoop.com/disreputation]
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The Honorable Competition Appellate Tribunal (COMPAT) on May 19, 2014 issued a landmark judgement in Indian Real Estate that will provide succour to thousands of aggrieved home-buyers across the country. (See article in Economic Times.) For its abuse of buyers & investors via its dominance in Gurgaon DLF will have to pay a Rs 630 crore penalty imposed in the Competition Commission of India (CCI) order of August 12, 2011, with 9% interest since then.
(Full Coverage here http://qubrex.com/cci-vs-dlf-all-abusive-builders/)
QuBREX had submitted an invited report on behalf of the buyers /investors (the Belaire Owners Association & the Park Place Residents Welfare Association) which has been quoted in the Honorable COMPAT’s order http://compat.nic.in/upload/PDFs/mayordersApp2014/19_05_14.pdf upholding the original orders by Competition Commission of India (Main Order of DLF Belaire & Main Order of DLF Park Place & Main Order of DLF Magnolias).
The buyers are now expected to file individual compensation claims against DLF amounting to approx Rs 50 lakhs per apartment. http://www.hindustantimes.com/business-news/tribunal-upholds-rs-630-cr-fine-on-dlf-company-to-move-sc/article1-1220950.aspx
The full report submitted by QuBREX can be seen at http://www.scribd.com/doc/57893914/DLF-vs-Belaire-Park-Place-Owners-Report-by-Qubrex-Submitted-to-CCI-Competition-Commission-of-India-Final-Report-May-08-2010-Completed-Projects
The historical & landmark COMPAT order in favour of buyers/investors of real estate has cited QuBREX many times as follows.