Lack of Professionalism in Unitech Noida Projects

Review On Unitech, Gurgaon

I would like to share my views on the Unitech as a Builder for Real Estate Development in Noida. It may be noted that I have a booked a 2bhk flat in Sept 2012 in their Sector 113 Project named as Unihomes 3(Tower C6).

Unitech started very fast in the beginning in sending demand notes seeking funds on reaching different milestones. However when they seemed to collect at least the land cost or more, they got slowed down or virtually stopped construction in some of the towers. The way they are working, I am sure that they would not be able to complete the construction in expected time frame of 30 months. It looks like they would need at least 10 years to deliver the project.

It is very rediculous that despite having funds at their disposal by collecting in lump sum or milestone based payments from the customers, they do not show efficiency at the construction site. Are they siphoning this project funds to other activities?

Their penalty clause in the agreement has also not any practicality. Unitech wants to charge(and is charging)~18% interest on delayed payments which may be due to last minute dispatch of demand notes. On the other hand,   they want to pay only Rs. 5 per sq ft on delayed offer of possession, which is nothing. Consider the situation of those who have availed home loan facility at 10-11% per annum. Without any clarity on possession of their homes, customers are under unnecessary stress and difficulties.

I do not think even Unitech staff and Management would themselves like to have bookings in their own projects with the current level of irresponsible attitude being demonstrated by Unitech. It is high time that they pull up their socks and show their capability of doing quality construction in stipulated time frame. They should note that some of the small builders are way ahead of them in construction business.

Sincerely

JC Gupta

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