In a significant relief to hundreds of homebuyers who have been waiting for almost a decade, construction on Unitech's stalled residential project, South Park, located in Sector 70, has finally resumed.
The project, which was halted in 2013, is now expected to move forward and be completed within the next three years. Originally, the South Park project aimed to deliver 832 flats across 27.4 acres, but only 672 units were sold before the project came to a standstill.
Ashok Yadav, the CEO of Unitech, mentioned that they expect 8 to 9 towers to be completed within 24 months, but the entire project, including the basements for parking and other infrastructure, would take around 36 months to finish.
Launched in 2008, construction had begun in 2011 after the approval of building plans, but the work came to a halt in 2013 due to financial issues and internal company conflicts. However, the newly appointed management, which took charge following a Supreme Court order, proposed a resolution framework in July 2020 to revive the project. This framework, which involved engaging Project Management Consultants (PMCs), outlined a plan to complete the unfinished housing units across Unitech's projects throughout India.
Despite these renewed efforts, on-ground construction did not start until July 2024 due to pending clearances from the Ministry of Environment, Forest and Climate Change (MoEF&CC) and approvals from the Haryana State Pollution Control Board.
Officials have now confirmed that all necessary clearances have been obtained. To enhance the project's financial viability, the new management also plans to expand the development by acquiring an additional 4.31 acres of land adjacent to the existing site, increasing the total project area to approximately 31.7 acres. A 66 kV overhead line running through the site will also be relocated to improve the project's safety and aesthetics.
One of the homebuyers, SL Juneja, who booked a flat in 2012, expressed cautious optimism about the progress. He stated that they have been waiting for over 12 years, and it has been a long and painful struggle. While seeing the work finally restart gives them some hope, he added that the next six months will be crucial in determining whether the project adheres to the timeline.
