Noida Authority approves changed plans for all Unitech projects
Real Estate

Noida Authority approves changed plans for all Unitech projects

Following a Supreme Court order, the Noida Authority has approved the revised layouts for all Unitech projects in the city.

Initially, the court had directed the Noida Authority to approve revised layout plans on all land allocated to Unitech without insisting on the recovery of dues, which total nearly Rs 110 billion. However, a revised order on April 26, 2024, divided the land into two categories: areas where homebuyers have been allocated flats and plots, and areas where projects have not yet been launched. Layout approvals pertain to sections where projects have already been launched.

Unitech, now managed by a government-appointed board, is tasked with delivering incomplete flats to homebuyers. According to Noida Authority data, Unitech possesses 443 acres of land across three parcels. Layout approval has been granted for projects on 246 acres, while 197 acres remain vacant.

Approximately 5,500 homebuyers have purchased flats and villas in these projects and have been waiting for possession for 10 years. With the new approvals, construction can resume.

YS Malik, a former IAS officer and Chairman, Unitech board since 2020, stated that contractors have been finalised for several batches of tenders. Construction will commence once environmental clearances are obtained.

Regarding the vacant land, Malik mentioned plans to present the layouts to the Supreme Court to seek guidance on developing the necessary civic amenities. He emphasised the need for continuity in amenity development, expressing concern about the manner of sanctioning these facilities.

In Sectors 96, 97, and 98, Unitech launched three projects: Amber, Burgundy, and Willows 1 and 2. There are 638 homebuyers in these projects, with 178 requesting refunds. Noida Authority has approved 818 units on 164 acres, while 180 acres remain vacant. The total dues for these projects up to April 30, 2024, amount to ?7,747.84 crore.

In Sector 113, Unitech launched Unihomes 3, which has 1,621 homebuyers, 941 of whom have sought refunds. Noida Authority has approved 1,751 units on 26.5 acres, with about 9 acres vacant. The total dues for this project are ?900 crore.

In Sector 117, Unitech launched Exquisite, The Residences, Unihomes 1 and 2, Uniworld, and Gardens, comprising 3,327 homebuyers, with 1,036 requesting refunds. Noida Authority has approved 3,728 units on 56 acres, with 8.7 acres left vacant. The total dues up to April 30, 2024, are ?2,066 crore.

In its April order, the Supreme Court acknowledged Noida Authority?s concerns about vacant land parcels. The Authority wanted the Unitech board to return the vacant land. However, the court deferred the decision on vacant land and stated that the issue of dues would be resolved later. Unitech has proposed constructing new towers and plotted houses in the vacant areas to generate capital and resources to complete its existing projects.

(Source: ET& TNN)

Following a Supreme Court order, the Noida Authority has approved the revised layouts for all Unitech projects in the city. Initially, the court had directed the Noida Authority to approve revised layout plans on all land allocated to Unitech without insisting on the recovery of dues, which total nearly Rs 110 billion. However, a revised order on April 26, 2024, divided the land into two categories: areas where homebuyers have been allocated flats and plots, and areas where projects have not yet been launched. Layout approvals pertain to sections where projects have already been launched. Unitech, now managed by a government-appointed board, is tasked with delivering incomplete flats to homebuyers. According to Noida Authority data, Unitech possesses 443 acres of land across three parcels. Layout approval has been granted for projects on 246 acres, while 197 acres remain vacant. Approximately 5,500 homebuyers have purchased flats and villas in these projects and have been waiting for possession for 10 years. With the new approvals, construction can resume. YS Malik, a former IAS officer and Chairman, Unitech board since 2020, stated that contractors have been finalised for several batches of tenders. Construction will commence once environmental clearances are obtained. Regarding the vacant land, Malik mentioned plans to present the layouts to the Supreme Court to seek guidance on developing the necessary civic amenities. He emphasised the need for continuity in amenity development, expressing concern about the manner of sanctioning these facilities. In Sectors 96, 97, and 98, Unitech launched three projects: Amber, Burgundy, and Willows 1 and 2. There are 638 homebuyers in these projects, with 178 requesting refunds. Noida Authority has approved 818 units on 164 acres, while 180 acres remain vacant. The total dues for these projects up to April 30, 2024, amount to ?7,747.84 crore. In Sector 113, Unitech launched Unihomes 3, which has 1,621 homebuyers, 941 of whom have sought refunds. Noida Authority has approved 1,751 units on 26.5 acres, with about 9 acres vacant. The total dues for this project are ?900 crore. In Sector 117, Unitech launched Exquisite, The Residences, Unihomes 1 and 2, Uniworld, and Gardens, comprising 3,327 homebuyers, with 1,036 requesting refunds. Noida Authority has approved 3,728 units on 56 acres, with 8.7 acres left vacant. The total dues up to April 30, 2024, are ?2,066 crore. In its April order, the Supreme Court acknowledged Noida Authority?s concerns about vacant land parcels. The Authority wanted the Unitech board to return the vacant land. However, the court deferred the decision on vacant land and stated that the issue of dues would be resolved later. Unitech has proposed constructing new towers and plotted houses in the vacant areas to generate capital and resources to complete its existing projects. (Source: ET& TNN)

Next Story
Infrastructure Energy

We are among the global top 3 in tech adopti

As energy gains global importance, L&T has built a strong presence across hydrocarbons, power, renewables and green technologies. With energy contributing significantly to its revenues, the company is now focused on sustainability and future readiness. In conversation with PRATAP PADODE, Editor-in-Chief, CW, Subramanian Sarma, Deputy Managing Director & President, L&T outlines the company’s strategy for transition, talent and technology.With energy becoming increasingly vital and a key contributor to L&T’s revenues, how do you see the segment evolving?We’ve been..

Next Story
Real Estate

Redevelopment Rush!

Mumbai is on the cusp of an urban transformation, driven by the pressing need to replace ageing, unsafe buildings with modern, high-density developments. The scale and pace of redevelopment across the city is unprecedented – and yet fraught with complexity.Redevelopment has become a defining strategy for urban renewal in Mumbai. One of the most challenging aspects is the displacement it entails – residents are often required to vacate their homes and live in transit accommodations until the new structures are ready. This raises valid concerns: Will the transit housing meet our needs? Will ..

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Achieves Sales Value of Rs 400 Bn

On National MSME Day, Vedanta, India’s leading critical minerals, transition metals, energy and technology conglomerate announced that its non-ferrous metals e-store has achieved a staggering Rs 400 billion in total sales value. Operated under the name of Vedanta Metal Bazaar, it is the world’s largest non-ferrous metals e-store offering more than 1200 stock keeping units (SKUs) across metals such as aluminium, zinc, lead and copper. The platform brings ease-of-doing business for customers on their fingertips by providing a streamlined, digital-first solution that enables businesses to pro..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?