NOIDA: After the Supreme Court’s order, Noida Authority has approved layouts of all Unitech projects in the city.
The court had originally directed Noida Authority to grant approvals for revised layout plans on the entire land allotted to Unitech without insisting on recovery of its dues, which amount to nearly Rs 11,000 crore. But in a revised order on Apr 26 this year, it directed that the allotted land should be categorised into two parts – where homebuyers have been allotted flats and plots, and where projects are yet to be launched.
Layout approvals pertain to sections where projects have been launched.
Unitech is now run by a govt-appointed board, which has been tasked with delivering its incomplete flats to homebuyers.
Noida Authority data shows Unitech possesses 443 acres of land across three parcels. Layout approval for projects has been granted on 246 acres, while 197 acres in the second segment remain vacant.
Around 5,500 homebuyers have bought flats and villas in these projects and are awaiting possession for 10 years now. With the approvals now given, construction work can resume on the projects.
YS Malik, a former IAS officer and chairman of the Unitech board since 2020, said contractors have been finalised for several batches of tenders and construction will start once environmental clearances for the projects are obtained.
Regarding land in the second segment, Malik said they plan to present the layouts to the Supreme Court and seek guidance on developing the necessary civic amenities. He also expressed concern about the way this would be done because amenity development should have continuity. “The facilities need to be developed in a continuous manner. However, the manner in which the sanction has been granted may pose challenges in developing these facilities,” he added.
In Sectors 96, 97 and 98, Unitech had launched three projects: Amber, Burgundy and Willows 1 and 2. There are 638 homebuyers in these projects, of whom 178 have sought refunds. Noida Authority has sanctioned 818 units on 164 acres of land while 180 acres remain vacant in the second segment. The total dues up to April 30, 2024 (including land premium and lease rent) amount to Rs 7,747.84 crore.
In Sector 113, the developer launched Unihomes 3, which has 1,621 homebuyers. Of these, 941 have sought refunds. Noida Authority has sanctioned 1,751 units on 26.5 acres, with about 9 acres of land lying vacant. The total dues on this project is Rs 900 crore.
In Sector 117, the developer launched Exquisite, The Residences, Unihomes 1 and 2, Uniworld, and Gardens, comprising 3,327 homebuyers, of whom 1,036 have sought refunds. Noida Authority has sanctioned 3,728 units on 56 acres, with 8.7 acres left vacant in the second segment. The total dues up to April 30, 2024 are Rs 2,066 crore.
In its April order, Supreme Court considered Noida Authority’s concerns about vacant land parcels. The Noida Authority wanted the Unitech board to return the vacant land to it. However, the court said a decision on vacant land would be taken later and reiterated the issue of dues would be decided in due course. Unitech has proposed constructing new towers and plotted houses in vacant areas to generate capital and resources to complete its existing projects.
Source Homevior.in
