Greater Noida News: Beginning in January, purchasers who are stranded in unfinished Unitech projects will be required to make the first installment payment. Within 24 to 36 months, all of the district’s purchasers will receive their apartments. The buyers were informed about their payment plan during a meeting on Sunday between the new Unitech board and the stranded buyers at the Sector-113 Unihomes-3 project.
Inventory Allocation through Drawing
Flats in inventory, or those that have not yet been reserved, have been distributed through drawing to purchasers whose tower’s foundation has not yet been poured. We would like to inform you that following Amrapali, Unitech projects will be undertaken under the Supreme Court‘s supervision.
Nationwide Project Kickoff
A work order has been issued to begin work on 39 projects across the nation following the recent conclusion of the tender process. These projects are scheduled to start construction in January. As a result, the buyers and the newly constituted board, which was overseen by the Supreme Court, met on Sunday.
Key Attendees at the Meeting
At this meeting, in addition to the buyer association and all of the buyers, Unitech’s new board CEO Ashok Yadav and senior consultant Nadeem Khan were present. Similar to how NBCC oversees work on Amrapali projects, Engineer India Ltd. oversees work on Unitech projects.
Government Oversight for Project Completion
The company will oversee the work that is completed. Similar to NBCC, this is a government construction company. This government agency has been tasked with overseeing the civil work being completed in these projects on the Supreme Court’s orders. In January, work will begin, and the house will be finished in a year or two. Because of this, starting in January, buyers will be required to pay the first installment. The information indicates that buyers will provide funds totaling approximately Rs 300 crore. The plan is for 6,000 buyers to pay within 24 to 36 months of the purchase.
Payment Structure for Buyers within a Year
Buyers who purchase an apartment within a year are required to pay for it in eight installments, with the first installment representing 15% of the total amount owed.Ten installments will be required of those who receive the flat in thirty months. 15% will be paid in the first installment, 10% will be paid in the next eight installments, and 5% will be paid in the final installment. Buyers who will get the flat in 36 months will have to pay the outstanding amount in total 12 installments. The first installment will be of 15 percent and the subsequent installments will be of 8 percent each.
Reserved Apartments in Unihomes-3 Project
Ninety buyers had reserved apartments in the Sector-113 Unihomes-3 project, but the tower’s foundation had not yet been set. In this project, 17 towers were originally planned, but only 16 are now. Through a draw on Sunday, 90 buyers were given apartments with inventory in the 16 towers that are currently under construction. These purchasers are no longer anxious about their tower not being constructed as a result.
Buyers’ Long-standing Challenges
Numerous buyers who attended the meeting stated that they had been having difficulties for years. Thus, it is appropriate to request money from them now that they have their flat. In response to this inquiry, the board members stated that funds are currently required to finish the unfinished projects, and that this is only possible if all of the buyers make their installment payments on schedule.
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