Real estate firm, Unitech declared on Monday that we would pay the penalty to the buyers for delay in the possession of the apartments in its project Residences’ at Gurgaon. It would pay the penalty according to the buyer’s agreement. This has come into the light, while buyers have filed the FIR against this real estate company. All approvals under the law have been obtained by it and now it opens for buyers.
Unitech assumed in a filing to BSE, “Due to various reasons like lack of labour and market recession prohibition imposed by High court taking the issues of using the ground water for construction purposes and delay in the clearness from the regulatory authorities and delay in the possession of the flats to allotters. This builder is fully concentrated in developing over 1,300 flats in this project, which has been delayed more by two –three years. The process of possession of the apartments is yet now continuing.
We trust on this company because it is the most reliable firm in the country and are in the obedience with the laws of the land. It is loyally committed to handle over the apartments. The company said that the delay in the possession of the apartments, it would pay the penalty according to the buyer’s agreement.
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