CCI to hear charges against realtors like Unitech, Oberoi Realty, Tata Housing and others next week

NEW DELHI: The Competition Commission of India (CCI) is expected to hear next week charges of alleged cartelisation and unfair trade practices against nine of the country’s top builders and their industry body, the Confederation of Real Estate Developers' Associations of India (Credai).

The CCI had in July issued notices to Unitech, Oberoi Realty, BPTP, Gaursons India, K Raheja, Amrapali Group, Supertech, Tata Housing, Ansal Properties & Infrastructure, and Credai following a probe carried out by its investigation arm.

Among other things, these developers were accused of inserting one-sided clauses against the interest of consumers in buyer agreements for sale of flats, apartments and other residential property.

The CCI’s investigation arm had also found that many builders did not disclose crucial information about the built-up area.

"The companies have already submitted their written responses to CCI on this matter. We will start the hearing soon," a CCI official said.