Unitech Ltd
Close on the heels of real estate firm Unitech recently reported consolidated loss of Rs 51.55 crore for the January-March quarter, the shares of the company plunged by over 3 percent on Thursday. As an apparent result of the consolidated loss posted by Unitech, the company’s scrip closed at Rs 27 on Thursday, underscoring a [...] Continue Reading »
Unitech, Real Estate Company, is set to deliver at least six million sq ft of developed area this financial year by increasing its construction spending, a jump from its rate of four million sq ft annually in the past few years. Prior to 2009, when the economy started slowing, the company had nine million sq [...] Continue Reading »
There has been an effort to regulate the real estate sector in India. The recent bills such as Land Acquisition, Rehabilitation and Resettlement Bill, 2011 and Draft Real Estate Bill, 2011 are testimony to that effort. While, the need to regulate the sector has been discussed at length, there are fears that the bills may [...] Continue Reading »
Telenor Group has approached Delhi High Court seeking that its Joint Venture partner Unitech Ltd be asked to set aside Rs 6,400 crore, or be directed to provide guarantees for the amount through a deposit. The Norwegian company moved the court as it fears the real estate company may not be able to pay the [...] Continue Reading »
Real estate major Unitech Ltd registered decrease in sales by 31 per cent in Q1 as compared to the year-ago period. While the company sold properties worth Rs 701 crore during the first quarter of this fiscal, they had registered a sales booking of Rs 1,020 crore during April-June quarter of last fiscal. Unitech sold [...] Continue Reading »
Delhi district consumer forum came up to stand for the rights of a consumer and directed leading real estate company Unitech Ltd. to pay back the booking amount and also imposed a fine of Rs. 15,000 on the company. The complainant alleged that he had paid Rs. 6.5 lakh as an installment amount to the [...] Continue Reading »
From December 1, 2011 RWA of World Spa had refrained themselves from paying maintenance charges for the project in Gurgaon. Unitech Ltd and Unitech Property Management Ltd had filed a case against RWA of the project in Sector 30 and 41 and sought injunction against residents who refrained from paying maintenance charges to the association. [...] Continue Reading »
The debt list of the builders is pretty huge! With a drastic slowdown in the realty sector sales for past over a year, building construction, sale had been paused by 70 percent! Now, its high time that the unsold flats and apartments need to be pushed! The only aim of real estate companies across India [...] Continue Reading »
