Real Estate Maharashtra
NCLAT Upholds NCLT Order, Paves Way for Supertech Realtors' Insolvency Proceedings
The National Company Law Appellate Tribunal (NCLAT) has upheld the National Company Law Tribunal (NCLT) order, clearing the way for insolvency proceedings against Supertech Realtors, the developer of the Supernova project in Noida. The decision follows a petition filed by Bank of Maharashtra over a default claim.
Real Estate
CBI Registers FIR Against Supertech and RK Arora for Rs 126 Crore Fraud
The Central Bureau of Investigation (CBI) has filed an FIR against Supertech Limited and its promoter, RK Arora, for allegedly defrauding IDBI Bank of Rs 126.07 crore. The case involves multiple individuals and fraudulent activities.
real estate news
Supreme Court Orders CBI Investigation into Builders-Banks Nexus in Delhi-NCR
The Supreme Court has directed the Central Bureau of Investigation (CBI) to probe the alleged nexus between builders and banks in real estate projects in the National Capital Region (NCR), particularly focusing on Supertech Limited's projects.
Real Estate
SC Orders CBI Probe into Supertech Limited's NCR Projects to Unveil Builder-Banks Nexus
The Supreme Court has directed the Central Bureau of Investigation (CBI) to probe the real estate projects of Supertech Limited in the National Capital Region (NCR). The court has expressed concern over the alleged nexus between builders and banks, which could have far-reaching implications for the real estate sector in the region.
real estate news
Supreme Court Orders CBI Investigation into Supertech Limited Projects in NCR
The Supreme Court of India has ordered the Central Bureau of Investigation (CBI) to probe the real estate projects of Supertech Limited in the National Capital Region (NCR) to uncover a potential 'builder-banks' nexus.
real estate news
Supreme Court Halts NCLAT Order, NBCC Stalled Housing Projects Transfer on Hold
The Supreme Court has stayed an NCLAT order that allowed NBCC to take over stalled housing projects. Supertech Limited, a prominent real-estate company, has been involved in the development of various housing projects in Noida, Greater Noida, and other ci
real estate news
NCLAT Appoints NBCC to Complete 16 Supertech Housing Projects in UP and Other States
NBCC will take over and complete 16 housing projects with a total of 49,748 units in Uttar Pradesh, Uttarakhand, Haryana, and Karnataka. The tentative construction cost is significant, and the move aims to ensure timely completion and delivery to affected
Real Estate
NCLAT Appoints NBCC as Consultant for Supertech's Housing Projects
State-owned NBCC has been appointed as a project management consultant to complete Supertech Ltd's 16 real estate projects at a cost of nearly Rs 1,000 crore.
Real Estate
Noida's Rise to Prominence: Can it Surpass Delhi and Gurugram as the Top Real Estate Hub?
Noida's real estate market is witnessing a significant transformation, with developers launching high-end projects worth over Rs 5 crore. This shift is driven by the city's growing popularity among homebuyers and investors.
Real Estate
Supertech Township Gets Two Weeks to Finalize Settlement Proposal
NCLAT grants two weeks time for Supertech Township's settlement proposal. Asks firm to publish it on its website so that it can be accessed by all stakeholders.
Real Estate
NBCC Moves to Complete Stalled Supertech Projects, Affecting 27,000 Homebuyers
India's stalled real estate projects have left around 500,000 housing units in limbo. NBCC's proposal to complete Supertech's projects could bring relief to 27,000 homebuyers.
Real Estate
NBCC Proposes to Complete 17 Stalled Supertech Projects, Aiding 27,000 Home Buyers
NBCC moves to develop and complete 17 stalled Supertech projects, benefiting 27,000 home buyers. The state-owned company has filed an intervention application in the Supreme Court, proposing to take over the projects.
Real Estate
NBCC India: A Multibagger Stock with a Strong Order Book and Real Estate Monetisation Opportunities
NBCC India has proposed a three-phase construction plan to complete 50,000 Supertech apartments across 17 projects over the next three years. The company is also executing the Amrapali project, which is expected to be completed by end-FY25.
Real Estate
Stuck in Limbo: Will Homebuyers Ever Get Their Dream Homes?
Thousands of homebuyers are still waiting to receive their apartments from stressed real estate projects. Despite the boom in the sector, resolution and execution remain the biggest roadblocks.
real estate news
Stressed Real Estate Projects: Will Homebuyers Finally Get Relief?
Despite the real estate market's sharp turnaround since 2021, stressed projects continue to pose problems. With the government and private players taking steps to revive stuck projects, will homebuyers finally get relief?
Real Estate Maharashtra
Supertech Realtors Insolvency Case: NCLAT Delays Proceedings Pending Lenders' Decision
Supertech Realtors, NCLAT, insolvency, Supernova project, lenders, settlement offer, real estate, construction, Delhi-NCR, Bank of Maharashtra, Kotak Advisors
real estate news
Supertech Realtors Faces Bankruptcy: What's Next for Supernova Buyers?
The National Company Law Tribunal (NCLT) has initiated bankruptcy proceedings against Supertech Realtors, the developer of the Supernova project in Noida.
real estate news
Supertech Realtors Insolvency Crisis: What's Next for Homebuyers?
Supertech Realtors, a leading Indian real estate developer, faces insolvency proceedings. What does this mean for homebuyers and the construction industry?
Real Estate Maharashtra
NCLT Orders Insolvency Proceedings Against Supertech Realtors' Supernova Project
Supertech Realtors, the developer of the prestigious Supernova project, has been ordered to undergo insolvency proceedings by the National Company Law Tribunal (NCLT) due to a default of Rs 168.04 crore.