+
SC relief for Unitech buyers, funding concerns linger
ECONOMY & POLICY

SC relief for Unitech buyers, funding concerns linger

The recent Supreme Court (SC) order providing relief to buyers of Unitech homes has brought a glimmer of hope, but concerns about funding remain prevalent among the aggrieved buyers. The SC directed the Centre to explore funding options to complete pending projects of Unitech, offering some respite to the distressed home buyers grappling with delayed possessions and incomplete constructions.

While the SC's intervention is seen as a positive step towards resolving the long-standing issue, many buyers remain apprehensive about the feasibility of securing necessary funds. The uncertainty surrounding the availability and allocation of funds raises doubts about the timely completion of projects and the fulfilment of buyers' aspirations.

Buyers express concerns over the lack of clarity regarding the source of funding and the mechanism for its disbursal, fearing potential delays or inadequate allocations. Despite the SC's directive, the road ahead appears challenging, with financial constraints posing a significant obstacle to the revival of Unitech's projects and the fulfilment of buyers' expectations.

The SC's decision underscores the urgency of addressing the plight of Unitech homebuyers and the need for swift and effective measures to ensure the delivery of promised homes. However, the lingering funding concerns highlight the complexities involved in resolving the crisis and restoring confidence among buyers.

As the legal battle continues and efforts to revive Unitech's projects intensify, the fate of thousands of homebuyers hangs in the balance, awaiting concrete solutions to their long standing grievances. While the SC's intervention offers a ray of hope, the journey towards justice and resolution for Unitech buyers remains fraught with challenges and uncertainties.

The recent Supreme Court (SC) order providing relief to buyers of Unitech homes has brought a glimmer of hope, but concerns about funding remain prevalent among the aggrieved buyers. The SC directed the Centre to explore funding options to complete pending projects of Unitech, offering some respite to the distressed home buyers grappling with delayed possessions and incomplete constructions. While the SC's intervention is seen as a positive step towards resolving the long-standing issue, many buyers remain apprehensive about the feasibility of securing necessary funds. The uncertainty surrounding the availability and allocation of funds raises doubts about the timely completion of projects and the fulfilment of buyers' aspirations. Buyers express concerns over the lack of clarity regarding the source of funding and the mechanism for its disbursal, fearing potential delays or inadequate allocations. Despite the SC's directive, the road ahead appears challenging, with financial constraints posing a significant obstacle to the revival of Unitech's projects and the fulfilment of buyers' expectations. The SC's decision underscores the urgency of addressing the plight of Unitech homebuyers and the need for swift and effective measures to ensure the delivery of promised homes. However, the lingering funding concerns highlight the complexities involved in resolving the crisis and restoring confidence among buyers. As the legal battle continues and efforts to revive Unitech's projects intensify, the fate of thousands of homebuyers hangs in the balance, awaiting concrete solutions to their long standing grievances. While the SC's intervention offers a ray of hope, the journey towards justice and resolution for Unitech buyers remains fraught with challenges and uncertainties.

Next Story
Infrastructure Urban

CJ Logistics’ Global CEO visits India to align growth strategy

Jonathan Song, newly appointed CEO of the Global Business Division at South Korea-based CJ Logistics, concluded a strategic three-day visit to India from July 29 to 31, reinforcing the company’s long-term commitment to the market through its subsidiary, CJ Darcl Logistics Ltd. Mr Song held high-level discussions with the CJ Darcl leadership and key customers to understand India’s evolving logistics needs, identify synergy areas, and enhance business alignment. His visit highlighted the strategic significance of India in CJ Logistics’ global network, especially amid the country’s g..

Next Story
Real Estate

Max Towers secures five star rating in safety audit by British Council

Max Estates, a leading NCR-based real estate developer, has achieved a five star rating in its first attempt at the British Safety Council’s ‘Five Star Occupational Health and Safety’ Audit for Max Towers, its premium commercial office project in Noida. The grading reflects the organisation’s commitment to the continual improvement of its occupational health and safety systems. The comprehensive audit covered documentation, interviews with senior management and employees, stakeholder feedback, and rigorous sampling of on-ground activities. It assessed performance against best prac..

Next Story
Real Estate

India’s Tier 2 & 3 Cities: The Next Growth Frontier for Real Estate

Introduction India’s metropolitan cities have long dominated the real estate landscape, shaping both market trends and public discourse, but the narrative is shifting towards India’s tier 2 and 3 cities. Beyond the metro cities, Tier 2 and Tier 3 cities such as Indore, Ahmedabad, Chandigarh, Jaipur, Coimbatore, Lucknow, Bhubaneswar, Kochi, Surat, Guwahati, and many others are emerging as vibrant real estate hubs. This growth is driven by impetus from rapid urbanisation, logistics corridors like the Delhi Mumbai Industrial Corridor, IT/ITeS investment zones, emergence of global capabil..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?