SC relief for Unitech buyers, funding concerns linger

07 May 2024 CW Team

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.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..