Unitech begins construction on its delayed Gurugram projects following Supreme Court intervention and expects completion within 18-36 months.
Unitech, one of India’s major real estate developers, officially initiated two projects in Gurugram on Sunday — 12 years after initially announcing them.
Unitech Sunbreeze and Unitech Vistas projects are located in Sectors 69 and 70 respectively, offering 888 apartments of which 680 have already been sold in Sunbreeze; Vistas contains 23 towers housing 1,287 apartments from which 1,241 have already been purchased by residents. Officials anticipate both projects to be complete over 18 to 36 months.
Both projects began in 2008 and 2009 and were scheduled to be finished by 2012. Unfortunately, their developer was unable to fulfill his obligation to complete them on schedule.
Homebuyers have filed multiple complaints against Unitech management. In December 2019, the Supreme Court ordered that an independent board be appointed by the government to manage it and complete outstanding projects by Unitech.
On Supreme Court orders, Unitech Chairman and Managing Director Ashok Yadav was appointed by the Government. They started work at two projects in Gurugram on Sunday with an audience of homebuyers present.
As soon as he obtained the necessary permits and started construction today, Malik said he hired a consultant for project management, contractor and government consultant as third parties to monitor quality and process.
Malik reported that, upon receiving approval from the Supreme Court, various statutory permissions were issued by various agencies such as the Ministry of Environment and Finance, State Pollution Department and Department of Town and Country Planning.
Malik noted that we will receive approval soon from the Supreme Court to tender for five towers that have yet to be built.
Both projects received environmental clearance in March last year, though both were awarded in November due to high levels of pollution preventing construction from beginning immediately. The company stated that due to winter construction ban restrictions due to high levels of air pollution work could not begin until March.
Ashok Yadav explained that while every effort was being taken to complete their projects, buyers must ensure they make payments on time in order for construction to move forward as scheduled. At Unitech Vistas alone there is a deficit of Rs175 crore which will be covered through selling land owned by Unitech and thus furtherance will take place without interruptions to construction progress. He asked buyers to make timely payments in order to prevent any obstacles to their progress during building.
