CCI rejects charges against BPTP

Jul 05 2014, 02:18 IST
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SummaryThe Competition Commission has rejected allegations that real-estate firm BPTP

The Competition Commission has rejected allegations that real-estate firm BPTP and its subsidiary Countrywide Promoters had abused their dominant market position with respect to development and sale of residential apartments in Gurgaon.

A complaint by an individual had alleged BPTP and Countrywide Promoters of imposing a unfair terms and conditions in the 'Builder Buyer Agreement'.

In an order, the Competition Commission of India (CCI) said: “No prima facie case of contravention of the provisions of...the (Competition) Act is made out against the opposite parties.

“It is a fit case for closure... and the same is hereby closed,” it added.

The watchdog observed that there were several other real estate developers such as DLF, Ramprastha Group, Anantraj Group, Earth Infrastructure Group which are operating in Gurgaon.

As per CCI order, the 'land bank' of BPTP in Gurgaon is around 778 acres while land bank of other players “is also enormous”.

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