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Unitech to lay off assets for clearing debts

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Realty major Unitech has started to put down their assets to cope with the harsh realty times. According to the source of www.propertykhazana.com Unitech has recently laid down few of its assets for around Rs. 2500 crore and other few equity which will be adjusted for the total debts of Rs. 8000 crore by the mid of next year.
Chirman of Unitech group – Ramesh Chandra reveals that the company making way to unlock few more doors to through selling of some recently completed projects too to bit the debt as soon as possible. He further adds that company will be working for another 4 to 6 months on this issue to clarify debts to approximately half of the current status. Sources of www.propertykhazana.com also reveals that disposal of the possessions may cover up around Rs. 1000 crore and the other transfer of the loan to the telecom trade might reduce the burden with Rs. 2000 crore.
Unitech stands on the second place in Indian realty and has initiated telecom business recently with a partnership of Telenor – a Norway based mobile firm. Unitech chairman also points that it was long plan of the company to lay of some of the assets including hotels, residential and commercial space across many major location of the company, but only difference is that it is been done six months earlier than estimated earlier by the core team. For more and latest updates visit www.propertykhazana.com.
Source: NBTVLIVE

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