SC releases Rs 21 crore to complete 514 flats of Unitech
The Supreme Court has released Rs 21 crore, submitted by Unitech, to the justice SN Dhingra committee for the construction of 514 flats in five residential projects. The five residential projects include Uni Homes (Mohali), Verve and Horizon (Greater Noida), Vistas (Gurugram) and Uni Homes (Noida). The developer has proposed to complete these projects in 3-6 months period. The committee initially formed to identify and auction the unencumbered properties of the company, will now monitor the construction status as well. Apart from this, Candor Investment submitted Rs 29 crore (approx) for buying two unencumbered land parcels of Unitech situated in Kolkata. The SC in its previous direction had ordered Dhingra committee to auction the land parcels. The total deal is worth Rs 116 crore, Ranjit Kumar Sinha and Abhinav Agrawal, counsels of Unitech had informed the court in the previous hearing. Rest of the money will be submitted in coming days.
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