Noida and Greater Noida authorities are considering Supertech’s request to register around 2,000 ready flats, offering a potential ray of hope for homebuyers awaiting their dream homes.
Homebuyers in Noida and Greater Noida might see hope as authorities in both cities are set to discuss a proposal submitted by real estate developer Supertech Ltd. The company is seeking permission to execute registries for around 2,000 ready-to-occupy flats across three projects – Ecovillage 1 & 3 and Czar Suites – for which occupancy certificates have already been issued.
This move comes amidst insolvency proceedings initiated by the National Company Law Tribunal (NCLT) against Supertech in March 2022. Supertech has challenged the NCLT order, but in a recent development, the National Company Law Appellate Tribunal (NCLAT) allowed project-wise resolutions in May 2024.
A meeting between Supertech representatives and Noida and Greater Noida officials, including Saumya Srivastava, Additional Chief Executive Officer of Greater Noida Authority, took place on July 9th, 2024, to discuss the registry issue. Thousands of homebuyers have been waiting for over a decade to receive their flats in these projects.
