Tag: Supertech Supernova

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SC Panel: All Supertech Realtors’ Deals Require Approval

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…

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SC Ruling on Supertech Supernova Offers Hope to Buyers

NEW DELHI: The Supreme Court’s recent order to appoint a new developer for the Supertech Supernova project in Noida, which is currently undergoing insolvency proceedings, has sparked renewed hope for countless homebuyers awaiting progress on stalled housing projects. As the construction of several projects has come to a halt during the insolvency process, the Supreme Court has stepped in to protect homebuyers’ interests by appointing a three-member committee to select another builder for the Supernova project, putting all entities under the Insolvency and Bankruptcy Code aside. The committee is tasked with appointing a new developer by evaluating proposals based on…

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Amicus Urges SC for Court-Monitored Resolution in Supertech Supernova

NEW DELHI: On Friday, the Supreme Court was recommended to consider a court-monitored hybrid resolution framework, similar to that used in the Amrapali and Unitech cases, led by former judge Navin Sinha to complete the Supertech Realtors’ ambitious ‘Supernova project’ in Noida. Supertech Realtors is a fully owned subsidiary of Supertech Ltd, which is currently undergoing insolvency proceedings. The ‘Supernova’ project encompasses a mixed-use development featuring residential, commercial spaces, studio apartments, service apartments, and shopping malls in Sector 94 of Noida. The structure is expected to rise to 80 floors, making it the tallest in the Delhi-NCR at a height…