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LIC plans to take possession of Unitech’s assets in case of debt default

12 Mar 2014 Evaluate

Life Insurance Corporation of India (LIC) is planning to take physical possession of a 350-acre land parcel owned by Unitech in Noida and Gurgaon if the real estate firm fails to clear its debt of Rs 150 crore to the Government-owned insurance major. Meanwhile, in a bid to repay its debt, realty major Unitech sold almost 10 acres of land in Bangalore and Mysore for about Rs 100-130 crore.

Also, on the cards is the sale of hotels in Noida and Gurgaon. The company hopes to raise Rs 1,000 crore in the short term through these sales.

Unitech, being one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.

Unitech Share Price

5.06 0.02 (0.40%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 871.70
Dilip Buildcon 457.55
DLF 601.80
Oberoi Realty 1710.00
Ahluwalia Contract(I 832.90
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