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Following Supreme Court interference, Unitech has starts working on its postponed projects in Gurugram. Project completion dates range from 18 to 36 months.
Twelve years after its inauguration, real estate company Unitech started work on two projects in Gurugram on Sunday, according to sources familiar with the situation.
Unitech Vistas in Sector 70 and Unitech Sunbreeze in Sector 69 are the projects under question. There are 888 apartments in Sunbreeze, 680 of which are sold, and 1,287 apartments in 23 towers at Vistas, of which 1,241 are sold.
Unitech Will Complete These Two Projects Within 3 Years Duration
According to authorities, both projects should be finished in stages over the course of the next 18 to 36 months. The two projects were scheduled for completion in 2012, having been started in 2008 and 2009, respectively. But because the developer defaulted, they were never finished.
Following many petitions from homeowners challenging the company’s administration, the Supreme Court ordered the central government to form an impartial board of directors to oversee the business in December 2019.
The court ordered Unitech’s outstanding residential and commercial projects to be finished by the government-appointed board, which assumed control in 2020.
Unitech Hired A Contractor, And A Project Management Consultant
In front of a sizable gathering of prospective homeowners, YS Malik, chairman and managing director of Unitech, and chief executive officer Ashok Yadav, who were nominated by the government in compliance with the Supreme Court’s directives, started construction on the two projects in Gurugram on Sunday.
With all the necessary permits in place, building got underway today. To keep an eye on quality and procedures, we have employed a contractor, a project management consultant, and an outside government consultant, according to Malik.
According to Malik, a construction business has been given the task of finishing these towers after receiving consent from the Supreme Court and the necessary legislative licenses from the state pollution department, the department of town and country planning, and the ministry of environment and finance.
Unitech Has Received Environmental Approval For These Projects
The Unitech Vistas tender for eighteen of the towers’ structures have been awarded, while the five towers’ constructions are still pending permission from the highest court. We’ll receive it shortly,” Malik said.
In March of last year, the two projects received environmental approval. The business stated that although the construction prohibition owing to high pollution levels during the winter months prevented work from commencing, the tender for these two projects was won in November of last year.
Although every attempt is being made to finish these projects, Ashok Yadav stated that in order for work to proceed, customers must make sure they pay the remaining balance on schedule.
The business plans to sell its land in order to cover the ₹175 crore gap in the Unitech Vistas project. To make sure there are no roadblocks to development, we ask the buyers to make their payments on schedule,” he stated.
Unitech Taken All Safety Assessments For Structural Stability
Additionally, the administration of Unitech promised to provide the apartments at the same price as was agreed upon when they were booked in 2009. Additionally, it requested that customers change their email addresses and phone numbers on the business website.
According to Yadav, IIT-Roorkee conducted a safety assessment of the construction plans and the structures to make sure the projects’ structural stability was not jeopardized.
Yadav mentioned the issues that many Unitech purchasers are facing and stated that they have already filed a request with the Supreme Court asking for an order directing banks to lend money to Unitech projects that are experiencing a renaissance. Although the Supreme Court has jurisdiction over this issue, we have submitted a response.
Source-ET
