The Noida Authority has recently granted layout map approvals for several unfinished housing projects by the Unitech Group, providing relief to over 5,500 buyers whose homes were stalled. This decision follows a Supreme Court directive in April 2024, prioritizing completion of projects where flats have already been allotted. The approved projects cover 246 acres with partially built structures, while another 197 acres of undeveloped land remain for future considerations. Construction is set to restart pending environmental clearances, with Unitech aiming for timely completion, contingent on funding and other approvals. The focus remains on delivering homes to awaiting buyers across sectors 96, 97, 98, 113, and 117 in Noida.
The Noida Authority has approved the layout maps for unfinished housing projects undertaken by Unitech Group, paving the way for construction to resume on these projects. This brings long-awaited relief to over 5,500 anxious buyers.
The approval comes after a Supreme Court order in April 2024. Previously, the Noida Authority withheld approval due to nearly INR 11,000 crore in outstanding dues from Unitech. However, the Supreme Court intervened, directing the authority to prioritize completion of existing projects for which flats have already been sold. The court divided Unitech's land holdings in Noida into two sections - 246 acres with partially completed projects where flats have already been allotted, and another 197 acres of vacant land for undeveloped projects. Layout approvals were granted for the first section where homes remain incomplete.
Unitech says construction will begin as soon as environmental clearances and other necessary approvals are obtained. They've already secured contractors eager to restart work, but a specific completion date remains elusive due to various factors. However, Unitech assures buyers that work will be completed on time or even ahead of schedule if funding is secured.
Going by Noida Authority data, Unitech holds a total of 443 acres of land across sectors 96, 97, 98, 113, and 117. The layout approvals cover projects on 246 acres with partially built structures, while the remaining 197 acres are undeveloped. The approved projects include Amber, Burgundy, Willows 1 and 2, Unihomes 3, Exquisite, The Residences, Unihomes 1 and 2, and Uniworld Gardens.
There have been refund requests from some buyers (around 178 for projects in sectors 96, 97, and 98, and 941 for Unihomes 3 in sector 113). However, a significant number (over 5,500) are still hopeful of receiving their homes. The Noida authority has approved construction of 818 units in sectors 96, 97, and 98, 1,751 units in sector 113, and 3,728 units in sector 117.
Unitech had previously proposed building new towers and plotted houses on the vacant land to generate capital for completing existing projects. However, the fate of those plans remains unclear at this point. The priority for now is to complete existing projects and deliver homes to the long-waiting buyers.
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