In view of the surging business avenues in the country's real estate sector, Unitech has recently decided to revive its Gurgaon realty project and in this connection, it has submitted a revival plan to the Haryana government. The housing project, Vistas, which was launched way back in 2009, is still lying in limbo. The real estate company, which is going through a funds crunch, has promised to complete the project in Sector 70 over the next two-three years and start giving phased possession of flats over the next few months. In Vistas Housing Project, the builder has planned 23 14-storey towers with 1,512 flats of two, three and four-bedroom types. Possession was due in 2012 but construction in seven of those towers is at an initial stage while five others have been built only upto the fifth floor. Unitech, according to sources, needs Rs. 195-cr to complete the remaining portion of the construction work, which is less than Rs. 211-cr due from Vistas buyers as balance payment and to ensure this money is used to complete Vistas, Haryana's Town and Country Planning Department has directed Unitech to open an escrow account, which will be jointly managed by representatives of the RWA and the firm under the supervision of the city administration and that the rider prompted the builder to revive the project.
📅Published on:
05 September 2016
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Allcargo Logistics Limited has announced its initiative to enable FMCG companies to navigate increasingly fragmented inventory flows through integrated,
GHV Infra Projects Limited has secured a road construction and civil works contract worth Rs 815 crore from APCO Infratech Private Limited in Maharashtra.
JCB India announced the inauguration of a new facility of its dealer, Caculo Earthmovers in Karaswada, North Goa, further strengthening its presence in the
The Godhra–Vadodara section of the Delhi–Mumbai Expressway has been completed and opened for traffic on a trial basis from April 13, 2026, according to the
The Rajasthan State Industrial Development and Investment Corporation will invest Rs 1,200 crore to upgrade infrastructure across more than 450 industrial
Dubai has completed its first air taxi station near Dubai International Airport, marking a major step toward launching electric air mobility services later
Informa Markets in India is gearing up to host the 23rd edition of Roof India, Asia’s premier exhibition for roofing and allied products, from 23–25 April 2026
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
