Gurugram Real Estate:
Work on Unitech South Parks project stuck since 2013, resumes
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Unitech said that homebuyers will have to pay the remaining amount in 11 equal instalments starting from October 10.
Real estate major Unitech Group resumed construction on its South Parks project in Gurugram Sector 70 on Sunday after a more than 10-year-long delay. The project comprising 832 flats in 14 towers is expected to be completed within 36 months, the group said — the group was placed under new management appointed by the Supreme Court in 2020 after the previous management failed the complete the project.
The group said that homebuyers will have to pay the remaining amount of the cost of the flats in 11 equal instalments starting from October 10. The group also said that it is attempting to persuade banks to extend loans to homebuyers who were facing difficulty in securing loans.
The group said that the project will now be developed over 31.70 acres of land instead of the original 20.20.acres. A spokesperson said that the developer had sought additional licence for 7.20 acres and recently the new management sought another licence for 4.21 acres, which is available with the company to ensure the financial viability of the project.
Note : “We expect 8 to 9 towers to be completed in 24 months, but the completion of the entire project, with basements for parking and other infrastructure facilities, will take around 36 months,” said Ashok Yadav, CEO of Unitech Ltd.
Source : Times of India
Source : Hindustan Times
