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Unitech projects don't need Rera registration: SC
Hindustan Times Gurugram
|January 17, 2025
The Supreme Court on Thursday exempted Unitech projects from complying with the Real Estate (Regulation and Development) Act, 2016, paving the way for thousands of distressed homebuyers to secure fresh loans from banks and allowing the board of directors managing Unitech to engage with banks for release of pending loans.
NEW DELHI:
The government-appointed board that manages Unitech approached the top court, citing practical difficulties faced by homebuyers in getting loans sanctioned from banks. One of the key objections cited by the banks was the non-renewal of Rera registration of Unitech projects after it lapsed in 2022.
A bench of justices Surya Kant and N Kotiswar Singh said, "We direct that all ongoing projects of Unitech will be exempt from registration under the Rera until further orders."
This story is from the January 17, 2025 edition of Hindustan Times Gurugram.
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