Architects/ Designers:


Total Articles:44   |   Page 1 of 3   

Unitech to raise funds to speed up housing projects

Posted on Sep 13, 2016
New Delhi: Facing consumer complaints over delay in project completion, realty firm Unitech today said it will raise about Rs 300 crore from financial institutions and sale of land parcels to complete over 40 housing projects comprising 13,000 flats within the next two years.

Unitech said it requires Rs 2,700 crore to complete these 41 pending projects while the receivables from the customers is about Rs 4,000 crore. The company is opening an escrow account for each project to speed up construction work.

Home buyers have filed cases in courts against Unitech for significant delay in execution of housing projects.

"Lately, Unitech, along with the resident welfare associations (RWAs) of projects have worked on a plan to expedite the process at various sites. We have opened escrow accounts with members nominated by RWAs also as signatories," the company spokesperson said.

The RWA members are monitoring the progress of the projects and holding regular meetings, he said.

"In our case, in the pending projects to be delivered, the value of the receivables is in excess of balance construction cost to be incurred. The worker strength on our sites has more than doubled in the last two months itself," the spokesperson said.

"With some additional working capital, which we will be raising either from financial institutions and/or sale of surplus properties, we will be able to expedite construction of projects across the country and deliver the same faster."

The company will be raising about Rs 300 crore for the initial working capital requirement and the remaining construction cost will be met through receivables from customers, the spokesperson said.

The pending projects are largely in Gurgaon, Noida and Greater Noida.

"Recently, the Delhi High Court has passed an order directing the company to open escrow accounts to focus on construction. These accounts will be monitored by the Delhi High Court," the spokesperson said.

In the escrow account, the company will have to keep 100 per cent of customer receivables, which is higher than 70 percent in the real estate regulatory law, the company said.

Unitech had posted a net loss of Rs 902 crore in the last fiscal. Its net debt stood at Rs 7,165.70 crore as on March 31, 2016.

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Glass: Preferred a lot by new age architects

Posted on Jun 29, 2016
AhmedabadGlass is strongly influencing the modern day architecture; its multifunctional nature is making its way to varied sections from house construction to decor.More commercial buildings are seen these days made of glass then just concrete. The glazed façade seems to be more in favour than concrete giants nowadays. Not just commercial, glass ha ...
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An elegant abode is all about stylish interiors

Posted on May 06, 2016
BangaloreHome decor is a personal and unique way to create stylised interiors. Wall colours, furnishings and accessories woven around themes that match one's taste and personality lend each space a distinctive look and character. The basic tenet for perfect home decor is, of course, little more than one's comfort level with a certain style. The out ...
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Eco friendly residential architecture, an indispensible paradigm of change

Posted on Jan 17, 2015
A huge amount of resources go into constructing and maintaining buildings. This is even more so for green buildings, given that there is a premium for having green features. Mumbai consists of 20% of green buildings in India and in fact the number is increasing at a faster rate. The government and the construction industry are proactive and are rea ...
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Supertech ties up with Armani group for luxury residences

Posted on Mar 29, 2013
Real estate firm Supertech today announced a tie-up with Italian fashion brand Armani group for interior designing of 100 super luxury residences in one of its project at Noida to be sold through invitation. Supertech has entered into partnership with Armani/Casa, the home and interior design division of the Armani Group. "We have signed contract w ...
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Using fabric to decorate your home

Posted on Nov 27, 2012
Transform your living space into a beautiful home with the right fabric. Fabrics no matter how insignificant to the common man can create a lot of difference to how your house looks.  So, if you are ready to invest in sprucing up your home then I would suggest that you find some time to do some research before deciding on which fabric works best fo ...
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Ready to assemble furniture is the way forward

Posted on Nov 27, 2012
Not so long ago, the only choice available when you selected your furniture was the material used. Now you also have the choice of either picking up ready-to-use furniture or ready-to-assemble furniture. Over the last few years, ready-to-assemble furniture is steadily increasing in popularity not only in India but the rest of the world as well.Some ...
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How to buy the right outdoor furniture

Posted on Nov 21, 2012
Our country is spread across a very large area and hence experiences a vast variety of climatic conditions. Winters are colder in the northern regions as compared to the southern part of India. The conditions can be different in coastal and hilly regions. People may prefer to stay indoors or outdoors depending on the local weather conditions. Howev ...
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Ethnic designs find their way into modern homes

Posted on Nov 07, 2012
Ethnic decor is embedded in our roots, and will never go out of fashion, even in contemporary homes.While designing their dream home, many Indians are incorporating modern aesthetic sensibilities which are inspired by the west. However, though there is a demand for elegant minimalism, they dont want to do away with traditional designs completely.“ ...
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Developers in Mumbai launch projects to attract buyers

Posted on Nov 07, 2012
The month of Diwali is here and as the festival of light comes calling, the realty market is all abuzz with a host of tempting project offers and deals to watch out for. For the buyer who has been on the lookout for a desired property, this makes for an apt time as one can walk away with not only a home but also take advantage of the festive scheme ...
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Feng Shui for your living room

Posted on Nov 02, 2012
If youve been wondering how to Feng Shui your living room. Here are some ways.The living room of any house is where all the occupants of the home gather, thus the atmosphere of the living room should be peaceful and calm.Follow these points to maximise the positive influences in your home.Paintings for your living roomLandscapes depicting sunrise, ...
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Decor for your floor

Posted on Oct 09, 2012
Choosing an appropriate flooring option is essential to lend the right note to an interior. The sheer expanse of space that the floor occupies in a large room can change the ambience of the decor. Depending on the nature of the room, the function it is put to, flooring options need to be decided. Thus, a living room would have an entirely different ...
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Style quotient in real estate

Posted on Oct 08, 2012
With the average income of Indians going up every year it comes as no surprise that we are now demanding world-class amenities within the comfort of our own city. Chennai is now home to many luxury properties, but how far are customers relying on high-end amenities while purchasing property?“We were looking to move to an independent house and found ...
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Lifestyle brand arttd'inox unveils second store in Delhi-NCR

Posted on Oct 01, 2012
JSL Lifestyle's brand 'arttd'inox' has opened its second store in the Delhi-NCR region at Sector 43, Gurgaon. Spread over 2,155.69 square feet, the new outlet showcases stainless steel modular kitchens; home decor products for bar, beverage, dining, kitchenware; and accessories.Speaking on the occasion, Deepikaa Jindal, managing director, JSL Lifes ...
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Manish Arora to design for real estate firm

Posted on Sep 20, 2012
New Delhi, Sep 20 (IANS) After marking his presence in the Indian and international fashion world, ace designer Manish Arora has tied up with real estate firm AMR Group, and will design for their forthcoming presidential suites and luxury residential projects.This is a strategic tie-up, whereby AMR will be the principal sponsor for Arora's Paris Fa ...
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Dewan moves into India; two offices to open soon

Posted on Mar 23, 2012
UAE-based Dewan Architects & Engineers is moving into the Indian market with the announcement that it will open two new offices in the country.The architecture and engineering consultancy firm is currently setting up its first office in the Indian capital of New Delhi, which is expected to be operational by the second quarter of 2012, with a se ...
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BMC commissioner simplifies process of getting NoCs from civic agency for high-rises, announces annulment of High Rise Committee

Posted on Mar 09, 2012
With little room for horizontal growth, Mumbai's aspirations to touch the sky got a boost on Tuesday, when BMC commissioner Subodh Kumar disencumbered the process of developing tall buildings in the city by announcing that the High Rise Committee of the civic agency will no longer exist. Instead, buildings beyond 40 floors (121m) would have to be d ...
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Quick makeover tips for your home

Posted on Mar 02, 2012
Tired of the same old room and want to change the look and feel of your home super fast and budget lite? Try these for size:Quickly make a trip to the nearest nursery and pick up a clutch of indoor plants. Greens bring immediate freshness to a room. Alternatively, if you dont have a green thumb, the market is flush with synthetic plants. You could ...
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Wall stylers provide an elegant touch to your home

Posted on Mar 02, 2012
There are numerous innovative ways with which one can decorate the entire house with wall stylers, a more decorative variant of wall tiles.LIVING ROOMIt is essential to make the living room bright and attractive. The design used and the colour is very important because colours can greatly affect the mood to a large extent, making you feel calm and ...
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Home decor for a cool summer

Posted on Feb 27, 2012
Get ready to face the hot summer heat as the climate changes in the coming weeks. Summer is a time when you want to chill out and relax indoors. It isnot always that you would experiment with things like furniture, windows, lighting fixtures and curtains. So search for innovative and simple solutions to make the interior of the home cool during the ...
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