NEW DELHI: The Competition Commission of India (CCI) has dismissed a complaint alleging unfair business practices against real estate firm Shree Yashashree Construction with regard to sale of residential flats in Nashik.
The complainant, who had purchased a flat in a building developed by Shree Yashashree, had alleged that the real estate firm was not issuing the sale deed, occupancy certificate and conveyance deed to the flat owners as agreed under the registered flat purchase agreement, in contravention of Sections 3 and 4 of the Competition Act.
While Section 3 deals with anti-competitive agreements, Section 4 pertains to abuse of dominant market position.
For the case, the Competition Commission of India (CCI) considered the “market for provision of services of development and sale of residential flats in city of Nashik”, as the relevant one.
In an order dated September 18, the fair trade regulator said Shree Yashashree (Opposite Party) has less than 10 per cent of the total ongoing and completed real estate projects in Nashik.
“Further, it is observed that there are other prominent/ significant private real estate service providers developing residential flats in Nashik, indicating that consumers are not dependent on the OP (Opposite Party) alone for provision of real estate services,” the CCI said.
Shree Yashashree is not dominant in the relevant market in terms of the provision of Section 4, it added.
The regulator also said that Section 3 has no application to the present case as the complainant and the OP are neither operating at the same level in the market nor are they part of same production or supply chain.
Noting that “no case of contravention of the provisions of Sections 3 or Section 4 of the Act is made out against the OP”, the CCI dismissed the complaint.