Delayed realty projects in India face procedural roadblocks now

29 Sep 2021 CW Team

Homebuyers and financial institutions across the country have been pinning their hopes on the dedicated bankruptcy court for resolution and a much-needed push to deliver over 100,000 such houses, the majority of which have been stuck for more than a decade.

Despite the Supreme Court appointing new boards or designated authorities to complete pending projects, little progress has been made due to disagreements among various stakeholders, including government authorities and secured lenders.

There has been little progress in the completion of projects in the larger cases, such as Unitech's because the scheme formulated by the new board is facing objections from authorities and secured lenders on grounds of unfair and arbitrary treatment of them under the plan.

In the Amrapali case, the court-appointed developer NBCC in 2019 to complete the projects, but due to a lack of funds, it was unable to make much progress.

The Corporate Insolvency Resolution Process (CIRP) in the Jaypee Infratech case has been ongoing for four years, and the resolution plan was approved by the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code (IBC) is awaiting approval by the National Company Law Tribunal (NCLT).

Bidders interested in working on the resolution are also deterred by the plan's delay in implementation.

Unitech's management, led by the former promoters Chandras, was removed by the Supreme Court two years ago, and an independent board of directors was appointed. However, the board has been unable to complete any houses in the last two years due to the scheme's pending approval before the Supreme Court.

In the case of Unitech, it is understood that the majority of projects have significant cash reserves to meet the needs of not only the project's home buyers, but also all of the project's stakeholders.

Image Source

Also read: Uttar Pradesh govt yet to resolve issues of Sports City flat buyers

Homebuyers can expect further delays in the delivery of stalled projects due to procedural complexities, a lack of consensus among stakeholders, and the lack of time-bound clearances from authorities. Homebuyers and financial institutions across the country have been pinning their hopes on the dedicated bankruptcy court for resolution and a much-needed push to deliver over 100,000 such houses, the majority of which have been stuck for more than a decade. Despite the Supreme Court appointing new boards or designated authorities to complete pending projects, little progress has been made due to disagreements among various stakeholders, including government authorities and secured lenders. There has been little progress in the completion of projects in the larger cases, such as Unitech's because the scheme formulated by the new board is facing objections from authorities and secured lenders on grounds of unfair and arbitrary treatment of them under the plan. In the Amrapali case, the court-appointed developer NBCC in 2019 to complete the projects, but due to a lack of funds, it was unable to make much progress. The Corporate Insolvency Resolution Process (CIRP) in the Jaypee Infratech case has been ongoing for four years, and the resolution plan was approved by the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code (IBC) is awaiting approval by the National Company Law Tribunal (NCLT). Bidders interested in working on the resolution are also deterred by the plan's delay in implementation. Unitech's management, led by the former promoters Chandras, was removed by the Supreme Court two years ago, and an independent board of directors was appointed. However, the board has been unable to complete any houses in the last two years due to the scheme's pending approval before the Supreme Court. In the case of Unitech, it is understood that the majority of projects have significant cash reserves to meet the needs of not only the project's home buyers, but also all of the project's stakeholders. Image SourceAlso read: Uttar Pradesh govt yet to resolve issues of Sports City flat buyers

Infrastructure Urban

29 Oct 2025

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Real Estate

29 Oct 2025

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Infrastructure Transport

29 Oct 2025

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..