The Competition Commission has dismissed allegations that five real estate websites, including Housing.com and Magicbricks.com, abused their dominant position by putting in place ‘no brokerage policy’ for realty deals.
The Confederation of Real Estate Brokers’ Association of India — with around 20,000 members — had also filed the complaint against 99acres.com, Commonfloor.com and Nobroker.in.
After finding that the five entities are not dominant in the relevant market, the fair trade regulator decided to reject the allegations made against them.
For the case, the Competition Commission of India (CCI) considered ‘the services of real estate brokers / agents in India’ as the relevant market.
Full Content: Economic Times
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