NEW DELHI: An empowered committee appointed by the Supreme Court has announced that prior permission is necessary for any real estate transactions involving Supertech Realtors at Noida.
Earlier this month, the empowered committee issued a public notice underlining restrictions on the sale or transfer of units within the Supertech Realtors Pvt Ltd (SRPL) project.
Supertech Realtors is developing ‘Supernova,’ a mixed-use real estate project in Sector 94, Noida, which includes residential, commercial, office spaces, studio apartments, service apartments, and shopping centers. Approximately 2,800 property buyers are currently affected by this project.
In the notice, the panel, established in December last year, advised all stakeholders—including homebuyers, allottees, prospective purchasers, and investors—that prior written consent is essential for any “sale, transfer, assignment, conveyance, or creation of third-party rights” concerning any units in SRPL projects.
Any previous resolutions from the Board of Directors approving the sale or transfer of units will become invalid as of December 16, 2025.
Transactions conducted without the panel’s prior written approval will be deemed null and void. The notice specified, “Any individual entering into such unauthorized transactions does so at their own risk, with no rights, title, interest, or claims enforceable against the project, developer, or any authority.”
The panel urged the public and prospective buyers to exercise due diligence and adhere to this requirement.
Previously, the panel appointed PwC as the Transaction Advisor to accelerate the revival of Noida’s stalled Supernova project. The committee, which is tasked with overseeing the resolution of the troubled Supernova Project, including the iconic Spira Tower, has initiated steps to expedite its revival. PwC will manage the process of identifying and onboarding a new developer.
The Committee is chaired by Justice M M Kumar, former Chief Justice of the Jammu & Kashmir High Court.
