Good news for 6000 flat buyers after 12 years, work will start in 10 projects of Unitech

Noida News: Unitech Builder has 10 housing projects in noida, on which construction work was stopped for years. The maps of these projects were withheld by noida Authority due to dues on the builder.


Noida News: good news for 6000 flat buyers after 12 years, work will start in 10 projects of Unitech

Noida News: A big ray of hope has risen for 6,000 flat buyers who have been fighting a legal battle for about 12 years. noida Authority has finally approved the maps of 10 housing projects of Unitech Builder, opening the way for resumption of construction work in these projects. Most of the flat buyers in these projects had made bookings 10 to 12 years ago, but due to the dispute between the authority and the builder, their desire to get their 'dream home' remained just a dream. The authority had refused to pass the maps of the builder's projects due to crores of rupees being due on him. Now the maps have been passed on the orders of the supreme Court.

156 hectares of land was allotted to the builder in 2006-07

Noida Authority had allotted about 156 hectares of land to Unitech Builder in the year 2006-07. This land was allotted in Sector-96, 97, 98, 113 and 117 for different projects. The builder had stopped paying the price of the land to the authority, due to which the dues on him kept increasing. For this reason, the authority did not pass the maps of these projects.

The builder owes about Rs 9,000 crore

According to noida Authority sources, Unitech Builder Group owes about Rs 9,000 crore, which has increased due to heavy interest on the principal amount. The 90 hectares of land allotted to the builder is lying vacant at different places in the middle of the city, the value of which has increased many times compared to the year 2006-07. The authority wants to take back this land, but the supreme court had directed the authority to give relief to the flat buyers by passing the maps, saying that the issue of cancellation of allotment will be considered later.

The situation worsened when Unitech owners went to jail

The situation of Unitech projects worsened when the owners, including the chairman of the company, were sent to jail in some cases. Due to this, the government formed a board to complete Unitech projects, but due to the map not being passed in the builder-authority dispute, the board was also not able to do any work. Now, with the maps being passed on the orders of the supreme court, the way has been paved for the construction of around 6,000 flats.

Find out more: