Message from a Broker
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Unitech Launch Floors in Nirvana Country -3 Sec -70 Gurgaon, in 1st week of June.

Tentative Area – 180, 240,360,400 and 500 sqyd.

Cheque Amount – 6lac and 10 lac.

In favour of “Unitech Ltd”.
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  • what you hear and what you see are entirely different in Unitech case. i will encourage you to go to the site and see yourself.

    can someone share any link from this forum regarding latest development in realty space in India? there was a new law passed that would allow investors to get the money back from the builder if construction progress fails to meet expectations.

    anyone thinking of taking that route?
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  • File a consumer case against unitech. i did that around sep'14. Both parties (my advocate ann Unitech advocate) have filled the reply and hopefully we are expecting a final decision on 1st June (date given by court). There was another recent verdict (google "consumer case no 282 of 2012") where unitech has been asked to refund the money @18% interest for extreme delay i.e. 9 years.
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  • Originally Posted by pdinvestment
    File a consumer case against unitech. i did that around sep'14. Both parties (my advocate ann Unitech advocate) have filled the reply and hopefully we are expecting a final decision on 1st June (date given by court). There was another recent verdict (google "consumer case no 282 of 2012") where unitech has been asked to refund the money @18% interest for extreme delay i.e. 9 years.



    Let us know about the final decision of 1st june..

    Now i want to sell my unit of 2nd floor 2 bhk Anthea.
    I want to know the price i can get if i sell mine.
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  • Originally Posted by pdinvestment
    File a consumer case against unitech. i did that around sep'14. Both parties (my advocate ann Unitech advocate) have filled the reply and hopefully we are expecting a final decision on 1st June (date given by court). There was another recent verdict (google "consumer case no 282 of 2012") where unitech has been asked to refund the money @18% interest for extreme delay i.e. 9 years.


    Can you please check your PM and respond to that.
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  • Those in India can collectively come together to file a case in consumer court. interested people may contact me through PM or post it here to discuss/agree on way forward.
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  • hi all , i have also been an unfortunate investor in unitech anthea floors and now have lost any hope of seeing this project completed state.
    i have tried selling it in the market but no luck. this forum has helped a lot to keep myself updated on what is happening though hardly anything positive. i am willing to file a consumer case but difficult bit is that i do not live in india. senior guys such as @pdinvestment and @smart111 have been great help to others in past. i would appreciate if they can help out to me on how to file consumer court case. i would be too happy to secure my money back with interest.
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  • if anyone has any doubt left on how bad this builder has become please try using its customer complaint page:

    Customer Relations - Customer Complaints

    you cnt even submit an application. they have just disabled the submit button.
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  • read TOI, Gurgaon edition, page no 2, dated 2nd Jun'15 report "Consumer Court says "unfair" builder contracts not binding"
    Its for Unitech Vista where group of approx 40 people have filled the case against Unitech due to delay in possession.
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  • Originally Posted by msahai
    hi all , i have also been an unfortunate investor in unitech anthea floors and now have lost any hope of seeing this project completed state.
    i have tried selling it in the market but no luck. this forum has helped a lot to keep myself updated on what is happening though hardly anything positive. i am willing to file a consumer case but difficult bit is that i do not live in india. senior guys such as @pdinvestment and @smart111 have been great help to others in past. i would appreciate if they can help out to me on how to file consumer court case. i would be too happy to secure my money back with interest.


    please check your PM.
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  • Originally Posted by akhgpt1979
    Hi Smart111, I am interested in filing a case against Unitech. Please share your cell number to take this forward.

    Cheetu - did you get hearing from consumer court yesterday. Any update


    your PM is not activated as the number of your posts are less than 10, same is the case with msahai.
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  • Originally Posted by smart111
    please check your PM.


    hi smart111 , i did not receive any message.
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  • Consumer court says 'unfair' builder contracts not binding
    TNN | Jun 2, 2015, 02.18AM IST

    GURGAON: In an observation that may have far-reaching impact, the National Consumer Disputes Redressal Commission (NCDRC) on Monday rejected the arguments of a real estate company that provisions mutually agreed upon in a builder-buyer agreement (BBA) are sacrosanct.

    The apex consumer court was hearing an array of cases filed by 26 buyers who, in 2009-10, had invested in Unitech's Vistas project in Sector 70. Possession of flats was not handed over by December 2012 as promised, not an uncommon problem in the realty sector. Forty buyers then moved NCDRC in November 2014. Of them, cases of 26 complainants were listed for their final hearing on Monday, after a series of hearings over the past six months. The commission's verdict, though, is still reserved.

    "The agreement clearly mentions the developer would pay 1.8% of the amount paid as penalty, in case of delay in handing over flats. When the same agreement was signed by each buyer, the court doesn't have jurisdiction to surpass that," said advocate Sunil Goel, who represented Unitech.

    But the NCDRC rejected the argument on grounds that any unfair trade practice can be challenged by it, even if there is a prior agreement between the parties. "When the buyer is made to pay 18% penalty for default, is it fair on the developer's part to pay a mere 1.8%?" said Justice V K Jain, who heard the matter.

    The judge also told Unitech's counsel that a 15% penalty can be levied on the firm during the interim period — from the promised date of delivery to the actual delivery date — but the lawyer pleaded inability to take an impromptu decision. Following this, the commission postponed the final verdict.

    Unitech's counsel cited several factors like slowdown in economy, shortage in availability of labour and scarcity of raw materials, all of which were dismissed by the NCDRC. "When the company has already collected over 90% of the cost, why is it affected by the state of the economy? Most delays happen because developers transfer money collected in lieu of one project into another. This is a very common practice," said Justice Jain.

    "As of now, the judgment is reserved. We can't rejoice until NCDRC gives its final decision. We're hopeful of a positive outcome, though," said Sushil Kaushik, advocate for the petitioners.
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  • Originally Posted by msahai
    hi smart111 , i did not receive any message.


    your PM is not working as the number of posts are quite less.
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  • Unitech share took a hammering today, it is at almost half the price, current low 7.40, is there something going on that we don't know?
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  • Originally Posted by smart111
    please check your PM.


    Originally Posted by rickysh
    Unitech share took a hammering today, it is at almost half the price, current low 7.40, is there something going on that we don't know?




    Guys Look like Unitech Position is very critical ..... debt on rise with no or zero income from projects ........loss was 154cr for last quarter ............Seniors any comment ....how safe our money with dem .........forget about const nd all...........
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