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Unitech no more interested in Orissa

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Going through the tough phase of realty in collaboration with economic downfall has result many realtors to step down from their projects at many prime locations across the nation. Source reported at www.propertykhazana.com reveals that realty major Unitech has recently made a halt for their upcoming site at a prime location in Bhubaneswar – Orissa for the reason of crunch of the liquidity. But the after the application the Bhubaneswar Development Authority has put down their plea and hence forced the Delhi realty team to rethink for the project occupying a carpet area of 11 acres.
The proposed project is of around Rs 211 crore consisting of both commercial and residential structure at some prime locality of the Orissa capital as added on www.propertykhazana.com. Apart from this DLF also had pulled out from its earlier stand on Rs 1000 crore for the project of Infopark. But commenting on the pull out issue a govt. official states that “the applications are yet to decide and probably will put the final verdict after the election.
It was also came to focus that the Unitech has already made a payment of Rs 52.7 crore for the plot of the project and is asking for a gap of three months and will pay the rest soon. However no deadline has been posed for the company from the govt. end to complete the pending amount but even though the company is making way to get rid of the project. The project was supposed get completed by 2010 where Unitech won the bid leaving behind DLF. For more updates visit www.propertykhazana.com.
Source: NBTVLIVE

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