NBCC Plans To Complete Supetech's 50,000 Flats In Noida And Greater Noida In 3 Years

There is relief news for the people who are stuck after buying houses in Supertech Limited’s housing projects in Noida and Greater Noida. NBCC has recently made a big announcement on the pending projects of the developer.

According to the report of TOI, the government company National Buildings Construction Corporation (NBCC) has offered to complete the construction of 50,000 flats of 17 housing projects of Supertech Limited in 3 years. All these flats will be constructed in 3 phases. The promoter of bankrupt Supertech Limited has many allegations, including fund diversion and money laundering.

Due to this, the construction of the company’s housing projects has stopped. To complete these pending housing projects, NBCC has sought permission from the National Company Law Appellate Tribunal (NCLT) to enter as a project management consultant. NBCC is also working on Amrapali’s stuck housing projects.

As per the latest report, NBCC has set a target of building 26,000 flats in the first phase. These include 7 projects spread across Noida and Greater Noida.

Eco Village, 2 Greater Noida, 7135 flats

2. Romano, Noida, 2130 flats

3. Capetown, Noida, 4932 flats

4. Kezar Suite, Greater Noida, 2102 flats

5. Eco Village-3, Greater Noida, 3917 flats

6. Sports Village, Greater Noida, 365 flats

7. Eco City, Noida, 2151 flats

Projects in Gurugram and Bangalore

In Phase 2, as many as 19,559 flats will be constructed in Noida, Yamuna Expressway, Greater Noida and Meerut. In the third phase, 4773 flats will be completed in Gurugram, Rudrapur, Dehradun and Bengaluru.

NBCC lan

NBCC said in its offer that the likely period for completion of various projects would range from 12 to 36 months from ‘Day Zero’. Day Zero includes everything from obtaining land approval to the availability of funds. For this, NBCC has sought cooperation from local authorities and Supertech as well as home buyers.

NBCC has estimated the cost of completion of all the projects at around Rs 9,500 crore and receipts are pegged at Rs 16,000 crore, including Rs 14,000 crore that may be generated from unsold inventory of 10,000 apartments.