Unitech
Mr Ashok Chawla, CCI or Competition Commission of India Chairman recently gave a statement saying that not all real estate sector problems can be solved by CCI and asked for a sector specific regulator. He further stated that CCI can play a role only when the entity in question is highly dominant and abusing its [...] Continue Reading »
The Delhi based real estate company Unitech Limited has been reported a total loss of Rs. 14.69 crore in the second quarter of the current financial year. For the last year’s corresponding quarter, the company has posted a total profit of Rs. 25.57 crore. Despite this, the Managing Director of Unitech, Mr.Sanjay Chandra said [...] Continue Reading »
On Sunday, over 150 home-buyers of Uni-tech Residences flats staged a peaceful protest against the delay in the possession of their flats. The flats at the Uni-tech residences project were scheduled to be delivered by the developer, Uni-tech, by 2011 end. With only 22 flats having been handed over by Uni-tech so far, and with [...] Continue Reading »
Real estate firm Unitech will sell non-core land parcels to reduce debt by 15-20 percent and improve cash-flows for faster execution of ongoing projects, company’s chairman Ramesh Chandra has said. Unitech currently has over 100 ongoing projects, totalling an area of 38.41 million sq ft. Its net debt stood at Rs 5,900 crore at the [...] Continue Reading »
Unitech Chairman Ramesh Chandra has said in a recent statement that the realty firm plans to sell its non-core land parcels. The move being mulled by the company is essentially aimed at reducing its debt. In addition to the sale of its non-core land parcels for reducing its debt, Unitech is also planning the monetisation [...] Continue Reading »
According to a recent statement made by Sanjeev Nandwani, Development Commissioner, SEZs (Eastern and North Eastern Zone), a total export income of Rs 15,000 crore was generated by the Special Economic Zones (SEZs) in West Bengal in FY 2013-14. The disclosure was made by Nandwani on the sidelines of a recent National IT Conclave organised [...] Continue Reading »
The telecom business of the Realty firm Unitech has resulted in huge losses and the consolidated balance sheet of the company is appearing red. Unitech had partnered with Telenor Group which is a Norwegian multinational telecommunications company. They had launched telecom services under the brand name of Uninor which never could capture the market share. Realty [...] Continue Reading »
Apparently there was an alleged land deal between Tata Realty and Unitech in 2007 which was supposed to fund the latter’s telecom project. The Supreme Court has been informed about the probe that was being conducted to ascertain the actual purpose of the land deal. Hence the CBI has registered a preliminary enquiry to probe [...] Continue Reading »
The Real estate developer Unitech is selling the 17.5 acres of land in Noida’s Sector 144 to the locak builer Gulshan Homz for a price of Rs 400 core as two people involved in the deal stated. The developer is hopefully going to use the money to reduce the debt that stood at Rs 6,316 [...] Continue Reading »
Over this past weekend, buyers in a number of housing condominiums in Gurgaon and Noida were up in protest against delayed projects. One of the most noteworthy demonstrations was carried out by nearly 50 home buyers who protested at Unitech Residencies in Sector 33, Gurgaon. The demonstration by these homebuyers marked a unique protest over [...] Continue Reading »
