Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

Has anyone seen any "noticeable" change or is it just a marketing gyaan..
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  • Originally Posted by GurgaonBuyer
    Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

    I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

    Has anyone seen any "noticeable" change or is it just a marketing gyaan..


    i hope this news is true..
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  • I visited Unitech office two times during last week & there was almost no activity . When I visited same office 9 months back it was full of activities & long waiting time . Looks like investors / buyers have started to loose confidence in Unitech...
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  • Originally Posted by GurgaonBuyer
    Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

    I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

    Has anyone seen any "noticeable" change or is it just a marketing gyaan..


    I am buyer in Nirvana 2 villas and i can tell you that construction has picked up pace only in last couple of months. touchwood !

    I can sense activity picking up but this behaviour needs to last long to make us believe Unitech is changing for good.
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  • got it...there's some speculation in the western world (if you follow financial news closely) about a private equity fund named "Blackstone" which if news are to be believed are in an active stage of doing due diligence to buy Unitech's SEZ's in Gurgaon and Noida ...for anywhere between 0.5 to 0.75 billion dollars...

    Hope they buy and more importantly hope Unitech uses the funds to re-start projects rather than launching another land buying spree..
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  • Unitech has already denied this Blackstone news sometime back..

    So its was just a Rumour.
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  • too bad..lets hope its the classic "denial" and something is happening in the background...all assets sales, takeovers, mergers always start with a denial...because no one wants the news to hit the market..

    maybe hoping against hope
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  • Dont sound too pessimistic dear.

    Unitech is down but certainly not out. They have a big land bank to fall back on.

    Only thing is that the investors should see initiatives from unitech, demonstrating effort on its part to show progress and commitments towards finishing the projects.
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  • I truly hope this is true.

    Unfortunately my personal experience suggests otherwise. I am holding a unit in Unitech Harmony in sector 50. Until a few months back, posession for my tower was supposed to be in 4Q 2012 but now it has been postponed to 3/4Q 2013.

    Nevertheless, let us hope for the best.



    Originally Posted by GurgaonBuyer
    Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

    I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

    Has anyone seen any "noticeable" change or is it just a marketing gyaan..
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  • Agree..The person I spoke with mentioned 12-18 months of delay is a given because literally nothing was done over the last 12-18 months so there's going to be a cascading impact..time lost is lost...

    The important thing is to keep a close watch over Q3/Q4 12 that some insiders are describing as the turnaround period....it seems there's a clear realisation that they have lost faith of investors, ventured into non-core business (Wireless etc.) and have little funds..and it seems now they are trying to make amends..and make a clean exit from non-core areas..Chandra's flamboyance has come at the cost of reputation...

    Q3/Q4 progress will be the litmus test ..
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  • Unitech Projects

    Unitech Projects is very Affordable Housing Projects in Gurgaon
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  • Now when you READ all this about the So-called A -Class developer, I am just thinking, did people blindly put Crores, of Hard-Earned Money, without even basic due diligence.

    And something people need to learn for future investments.

    I mean, this company should be made to feel the pain that happens, when Investors shun their company.
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  • For the record I dont have any Unitech property..I'm a prospective buyer..considering multiple options..Unitech Exquisite in Sec 71 being one of them..

    I'm not sure if I understand your response..is it an emotional outburst or a well informed opinion that you are sharing...you have made a general statement that all Unitech buyers didnt do any due diligence and need to learn a lesson...i feel sorry for these chaps too who are suffering the pain but putting a certain label on them is unfortunate..a lot of them made bookings many years back..

    I live outside India and have been following this forum for the last 3-4 weeks..I see everyone singing praises of IREO and Tata.. and prices touching ridiculous levels..IREO skyon for which approvals have just come and excavation has not even started..available at 10,700 psft original bookings...Tata launching Primanti Phase II Exec Floors at ~ 10000 psft in Sec 72 (where even the roads are not yet defined)...but everyone seems to be delighted..is there any level of objectivity being applied..

    IREO is launching project after project and it's today where Unitech and DLF were 3 years back...everyone is following a herd mentality ..lets just buy them ....when you can have a property in Park Place (GFC road) at ~ 11500 psft or Parsvanath Exotica at 10,000 to 11,000 psft...

    I wish anyone had a crystal ball to predict which builder will go which way in future..if anyone has a fool proof way of due diligence please share with me too as I would love to use it in my decision making process..as I want to make a purchase in a month or two..
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  • I feel that investors are still coming to Unitech but the bigger issue is that Unitech has lost faith of end users. However, I agree with you in the sense that if Unitech stops being relevant to end-users, then eventually it will stop being relevant to investors as well.

    Case in point is SPR projects where there are quite a few investors and many have already exited with decent returns in 1 to 2 yrs period.

    From end-users perspective, Unitech has rightly earned fame as 'Ponzi' builder in NCR. I have no doubt in my mind that Unitech will speed-up construction of under-construction projects over coming months as it will help them collect 95% money. To me litmus test is, will it give posession of its projects to end-users in the next 12-18 months or will it continue to halt construction indefinitely after collecting 95% money. GCX project such as Close South, Fresco, Escape, Harmony were launched in 2005/06, and are yet to be fully delivered.

    BTW, Unitech is not the only one doing this, there are many others competing with Unitech to earn their way to ponzi category. However, since other builders are indulging in unethical practices is no excuse to justify one's acts.


    Originally Posted by GurgaonBuyer
    Agree..The person I spoke with mentioned 12-18 months of delay is a given because literally nothing was done over the last 12-18 months so there's going to be a cascading impact..time lost is lost...

    The important thing is to keep a close watch over Q3/Q4 12 that some insiders are describing as the turnaround period....it seems there's a clear realisation that they have lost faith of investors, ventured into non-core business (Wireless etc.) and have little funds..and it seems now they are trying to make amends..and make a clean exit from non-core areas..Chandra's flamboyance has come at the cost of reputation...

    Q3/Q4 progress will be the litmus test ..
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  • Rightly said, handing over the posession will be the real test..I assumed that once they complete 95% they'll make it 100% but agree that it will be the real test and not just leaving at 95%..
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  • My friend never have this assumption.

    Collecting 95% payment and stopping construction is proven and widely practiced practice in real estate. And in this game, seasoned investors exit after making quick profits and end-users get stuck..............

    Anyways to not want to dwell on this any further, this forum if full of very valuable insigths on real estate do's and dont's both from investor and end-user perspective.

    Originally Posted by GurgaonBuyer
    Rightly said, handing over the posession will be the real test..I assumed that once they complete 95% they'll make it 100% but agree that it will be the real test and not just leaving at 95%..
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