Unitech delays project delivery; homebuyers see red

Even though Unitech succesfully raised nearly USD 900 million via two qualified institutional placement (QIP) issues, the country's second largest realty firm is lagging behind in construction. This resulted in nearly 250 angry home-buyers of the Unitech Habitat in Greater Noida gathered today outside the company's headquarters to protest against late delivery. Unitech Habitat, a residential development, was supposed to be delivered by June 2009. Construction is still on and will take some time before apartments here are handed over to the buyers.