Realty News Round-Up: CCI Rejects Allegations Against DLF Group Companies

Realty News Roundup is PropGuide's selection of top stories from the real estate sector.

Top News

Fair trade watchdog Competition Commission of India (CCI) has rejected allegations of anti-competitive business practice against two DLF Group firms, news agency PTI reported. The complaint pertained to abuse of dominant position by DLF Qutab Enclave Complex Educational Charitable Trust and DLF Ltd for leasing plots for developing and running creches/play school in residential areas, the report added. Read more 

According Fitch Ratings, the Union government's recent decision regarding the easing of investment norms under Foreign Direct Investment (FDI) policy for the real estate sector is more of a long term strategy, and is unlikely to result in any quick rise in FDI in the near future. The Indian real estate sector had been challenged by frequent delays in project completion and a long/complex approval process, ETRealty.com reported citing the  study. Read more

Off the frontpage

Direct discounts of 5-10 per cent, reduction in apartment sizes and falling interest rates have pushed cumulative residential property sales Mumbai property market in the last four quarters by 28 per cent compared with the corresponding period, according to an ETRealty.com report. The report cited a recent study where it said that developers in Mumbai had managed to sell 16,990 units under new launches or in primary market in the last four quarters ending September 30 as against 13,290 apartments in the previous four quarters. Read more

Classifieds portal Quikr is set to buy property portal Commonfloor.com for $200 million. The deal is expected to be a mix of cash and equity. After the deal, the merged entity is expected to become the largest player in the country's online realty segment. Read more