Unitech housing projects, named Amber, Burgundy, and Willows, have faced delays of over 15 years as the company ran out of funds. Amber has seven towers with 422 apartments, Burgundy features seven towers with 395 apartments, and Willows has 397 bungalow plots. In all, 5,586 homebuyers are waiting for their properties across these projects.
Noida: The Unitech board, appointed by the Supreme Court, held a groundbreaking ceremony (bhumipoojan) on Sunday to mark the start of construction for three long-delayed projects at the Unitech Golf and Country Club in Noida Sectors 96, 97, and 98. The event was also attended by 400 homebuyers who had invested in these projects. The housing projects, named Amber, Burgundy, and Willows, have faced delays of over 15 years as the company ran out of funds and failed to meet its obligations.
Unitech Golf and Country Club’s Amber and Burgundy are luxury apartment towers, while Willows is a project with bungalow plots. The housing projects are located in Sectors 96, 97, and 98, near the Noida-Greater Noida Expressway. Unitech housing projects: New timeline YS Malik, chairman and managing director of the Unitech board, said that Amber and Burgundy will be completed and delivered to the homebuyers after June 30, 2026.
Meanwhile, plots in Willows would be handed over to buyers within six months, Malik added. He further said that the plots will be delivered on time if everything goes as planned and the development works face no other disruptions, such as GRAP restriction during winters. The plan includes creating a 5-meter-wide walkway that stretches 3.
4 kilometers around the Unitech Golf Course. To help expedite the entire process, the company plans to sell unsold plots starting January 2025 to raise funds for construction. The Noida Authority gave a green signal to new building maps for Amber and Burgundy in June this year, as per the Supreme Court’s directive.
These projects, which have already been partially built, include 818 apartments across 164 acres. At present, 638 buyers are waiting for their houses, with the remaining 180 apartments to be sold in the future. Long wait of 5,586 homebuyers to end soon Amber has seven towers with 422 apartments, Burgundy features seven towers with 395 apartments, and Willows has 397 bungalow plots.
In all, 5,586 homebuyers are waiting for their properties across these projects. Unitech struggled to complete these projects due to a lack of funds. The developer failed to pay about Rs 11,000 crore in land dues to the Noida Authority and being unable to secure money to expedite construction.
Probe is still on by by the Enforcement Directorate (ED) and other agencies regarding the misuse of funds by Unitech’s promoters. In 2020, the apex court appointed a new board to replace Unitech’s promoters, who were unable to deliver on their commitments. Following the court’s order on April 26, 2024, the revised building plans were approved on May 30, and construction resumed on June 25.
Funds requirement The Unitech chairman said that Rs 60 crore is needed to complete the basic development work and another Rs 5 crore for the walkway around the golf course. To finance these efforts, Unitech plans to collect Rs 70 crore from plot buyers and spend Rs 65 crore on developing the plots. The board hopes to raise Rs 300-Rs 400 crore through the sale of additional plots to support construction and expedite the delivery of apartments.
Malik plans to request the Supreme Court to encourage banks to fund the projects, like they supported Amrapali projects, aiming to ensure timely delivery to homebuyers. Meanwhile, buyers have expressed hope and relief following the ceremony..
