The group was founded in 2004 by visionary and flamboyant entrepreneur trio Mr. Gaurav Gupta, Mr. Shaleen Singh and Mr. Sunil Kumar with their exemplary expertise in Marketing & Finance. The company has its headquarters in Delhi (NCR).
The Noida, Gr. Noida, Ghaziabd is the part of National Capital Region and a central planning region centred upon the National Capital Territory in India. It encompasses the entire NCT of Delhi and several districts surrounding it from the state of Uttar Pradesh.
posted on October 31, 2019
NOIDA: The Noida Authority on Wednesday said it has cancelled the allotment of a group housing property to crisis-hit realtor Unitech over non-payment of dues worth Rs 1,203
The property concerned is located in Sector 113 where the real estate group had also come up with 17 towers without getting the map cleared by the authority, in violation
of the Noida Building Regulation, 2010, it said.
"The allotment was cancelled on October 21 on instructions of Noida Authority CEO Ritu Maheshwari who has directed officials to reclaim possession of the property within 15
days," the authority said in a statement.
"The non-payment of dues includes those accruing from EMIs, interest, lease rent, construction delay by Unitech worth Rs 1,203 crore," it added.
"The allottee (Unitech) was served a notice on August 24 and multiple other notices prior to that, in which it was asked to clear the pending dues. It could not present any
satisfactory explanation within the stipulated time limit and hence the action," the authority said.
The group is also accused of trying to have an agreement to sell 19,181.50 sq metre of land to M/s Sethi Residents and M/s GMA Developers, making them third-party, without seeking
the authority's permission.
Unitech representatives could not be contacted immediately for a response.