Construction Resumes on Unitech’s Stalled Residential Project in Delhi Sector 70
After nearly a decade of waiting, construction on Unitech’s residential project, South Park, located in Sector 70, Delhi, has finally resumed. This development comes as a huge relief to the hundreds of homebuyers who have been eagerly awaiting the completion of their dream homes.
The Project:
The South Park project, which began in 2008 with the aim of delivering 832 flats across 27.4 acres, unfortunately faced numerous issues during its development. Only 672 units were sold before construction came to a halt in 2013 due to financial troubles and internal conflicts within the company.
Now, under the guidance of the newly-appointed management following a Supreme Court order, Unitech plans to complete the remaining portions of the project. The CEO, Ashok Yadav, has indicated that they expect 8 to 9 towers to be completed within 24 months. However, completing the entire project, including basements for parking and other infrastructure, will likely take around 36 months.
Challenges:
Key challenges have stood in the way of the project’s revival. Various clearances, including those from the Ministry of Environment, Forest and Climate Change (MoEF&CC) and the Haryana State Pollution Control Board, were pending, causing delays in on-ground construction. However, the news now confirms that all necessary clearances have been obtained.
Path to Revival:
To enhance the project’s financial viability, Unitech’s new management is planning to acquire an additional 4.31 acres of land adjacent to the existing site. This expansion will increase the total project area to approximately 31.7 acres, providing a more comprehensive and attractive development.
Furthermore, to improve safety and aesthetics, a 66 kV overhead line running through the site will be relocated.
Homebuyers’ Perspective:
Homebuyer SL Juneja, who previously booked a flat in 2012, cautiously expressed his optimism about the progress. He acknowledged the long and painful struggle they have endured and how the recent restart gives them a glimmer of hope. However, Juneja emphasized that the next six months will be crucial in determining whether the project adheres to the projected timeline.
After years of disillusionment, the resumption of construction at Unitech’s South Park project brings a sense of renewed hope for the homebuyers. While challenges lie ahead, with the support of a revived management team and securing the necessary clearances, this marks a milestone towards fulfilling promises made to the eager residents. As the development progresses, it is important to monitor the project’s timeline closely and ensure transparency and accountability at every stage.
