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

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..