Realty bites

In a move that will have far-reaching implications for the real estate sector that is growing at 30% per annum thanks to a rapid growth in disposable incomes and urbanisation, the Competition Commission of India (CCI) has fined DLF R630 crore (7% of average turnover during 2009-11) for abusing its ‘dominant position’ to the disadvantage of consumers. The company can challenge the CCI ruling in the Competition Appellate Tribunal.

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