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Ansal’s housing scheme under MRTPC scanner

Ansal’s housing scheme under MRTPC scanner
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First Published: Wed, May 07 2008. 03 01 PM IST
Updated: Wed, May 07 2008. 03 01 PM IST
PTI
New Delhi: Ansal Housing & Construction Ltd’s residential plots project in Karnal has come under fair trade practices body MRTPC’s scanner, as advertisements promoting the scheme withhold the true cost of plots while inducing potential buyers to seek loans only from a particular bank.
The Monopolies and Restrictive Trade Practices Commission (MRTPC) has directed its investigative unit DGIR to look into the claims made by Ansal Housing and Construction Ltd for its upcoming modern township in Karnal.
Deepak Ansal headed Ansal Housing and Construction has offered to book a 166 sq mt plot in that township by just paying Rs1.25 lakhs. Buyers would then have to pay Rs1 lakh within 30 days from booking and thereafter Rs15,000 per month for 15 months and the balance at the time of possession.
According to MRTPC sources, the company did not mention the actual price of the plot and tried to keep its customers in dark.
“When details about payments are mentioned, the price details should also have been mentioned in advertisement. The Commission suspects that the company has not disclosed the rates of plots with a motive of possible unfair manipulation of prices,” a source said.
Moreover, the Commission has also noticed that the real estate developer has exclusive tie up with HDFC Ltd for financing the scheme. As per the advertisement, the scheme was available only to those availing loans from HDFC Ltd.
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First Published: Wed, May 07 2008. 03 01 PM IST