Unitech Homebuyers Concerned Over Vacant CMD Post and Project Delays
· Business · Business Standard
Homebuyers of realty firm Unitech have expressed deep concern over the prolonged vacancy of the Chairman and Managing Director post and the persistent lack of funds for stalled housing projects. The delay in completing construction has left thousands of allottees in uncertainty for years without receiving their promised apartments. Buyers note that despite judicial interventions and oversight committees, the financial restructuring and execution of stalled projects remain severely sluggish. The government-appointed board managing the company has faced persistent capital constraints in restarting full-scale construction activities across multiple sites. Representatives of the aggrieved buyers plan to escalate their grievances before judicial authorities to push for accelerated project delivery and financial accountability.
Why it matters
Thousands of retail homebuyers who invested their life savings into Unitech residential projects remain stranded without possession or refunds due to ongoing financial constraints.
Read the original report — Business Standard
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