Unitech is on the brink of securing environmental clearance for its major real estate projects in Noida’s Sectors 96, 97, and 98, with the approval anticipated as early as Thursday, September 5, 2024, according to sources familiar with the matter.
This clearance, known as the Consent to Establish (CTE), is a crucial regulatory step that must be completed before construction can commence. The Uttar Pradesh State Pollution Control Board is expected to issue the final CTE within the next two to three weeks. Once received, Unitech plans to initiate construction activities, beginning with Sector 96. The development of these Noida projects will be a significant milestone, providing long-awaited homes to over 6,000 buyers who have been awaiting delivery for more than a decade.
Unitech holds approximately 471 acres of land across its three major projects in Noida, including 343 acres in Sectors 96, 97, and 98. Of this, the Noida Authority has approved plans for 166 acres in the initial phase. Additionally, in Sector 113, Unitech has been allocated 53.53 acres, with about 34 acres handed over. However, approvals for building plans on around 9 acres remain pending. In Sector 117, Unitech possesses 65 acres, but building plans for Phase 7, spanning approximately 10 acres, are still under review by the Noida Authority.
Under the leadership of retired IAS officer, Unitech has already commenced construction in Sector 113 following the receipt of necessary environmental clearances. The Terms of Reference (ToRs) for projects in Sector 117 have been approved by the State Environment Impact Assessment Authority (SEIAA). Regarding the remaining 196 acres in Sectors 96-98, 113, and 117, where only partial approvals have been granted, Unitech plans to approach the Supreme Court for further directions.  Unitech reported a consolidated net loss of ₹1,206 crore for the first quarter of FY25, a significant increase from the ₹702.97 crore loss recorded in the same period last year. Total income also fell to ₹84.04 crore from ₹91.09 crore in the corresponding quarter of the previous fiscal year, as per regulatory filings.
