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Dear Unitech Investors,
I wish to congratulate all the Unitech Investors who seem to be happy with their new investments in Gurgaon region.However,this is not the case which is true with the old investors especially Unihomes,Noida,the flagship affordable project.This project was launched in July 2009 with promise of delivery in two years time but the work stopped totally at the site 6 months back due to which the structure of most of towers is not ready.Repeated complaints to customer care are not answered and no definite reply as to when work will resume are not given.The owners have formed an association and they have met managemrnt two times in last 2 months but still only false assurances are given.It is a general understanding among all the buyers now that Unitech is in a big financial mess and is not in a position to complete its existing projects.The only thing it seems to b doing is the launch of flashy projects in Gurgaon because it can easily raise money to repay its huge loan and interests.Soon you will hear in press about this story and some legal action is also being sought to safegaurd the interests of buyers most of them end users having paid 90% payment till now.
I know that Gurgaon and Noida are different segments as regards to pricing but the executing company Unitech is same and sooner or later Gurgaon customers may feel the pinch after the first 30-40 % payment has gone even before the construction begins.It may be beyond Unitech's ability to really deliver what they have promised seeing the present and past record.
I wish to congratulate all the Unitech Investors who seem to be happy with their new investments in Gurgaon region.However,this is not the case which is true with the old investors especially Unihomes,Noida,the flagship affordable project.This project was launched in July 2009 with promise of delivery in two years time but the work stopped totally at the site 6 months back due to which the structure of most of towers is not ready.Repeated complaints to customer care are not answered and no definite reply as to when work will resume are not given.The owners have formed an association and they have met managemrnt two times in last 2 months but still only false assurances are given.It is a general understanding among all the buyers now that Unitech is in a big financial mess and is not in a position to complete its existing projects.The only thing it seems to b doing is the launch of flashy projects in Gurgaon because it can easily raise money to repay its huge loan and interests.Soon you will hear in press about this story and some legal action is also being sought to safegaurd the interests of buyers most of them end users having paid 90% payment till now.
I know that Gurgaon and Noida are different segments as regards to pricing but the executing company Unitech is same and sooner or later Gurgaon customers may feel the pinch after the first 30-40 % payment has gone even before the construction begins.It may be beyond Unitech's ability to really deliver what they have promised seeing the present and past record.
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