+
NBCC Eyes Complete Takeover of Supertech's Pending Projects
ECONOMY & POLICY

NBCC Eyes Complete Takeover of Supertech's Pending Projects

The National Buildings Construction Corporation (NBCC) has expressed interest in assuming responsibility for all pending projects of Supertech, aiming to facilitate their completion and alleviate concerns among homebuyers. This move comes amid ongoing efforts to resolve the challenges faced by Supertech in delivering its real estate projects.

Supertech, a prominent real estate developer, has encountered difficulties in completing several projects, leaving many homebuyers in limbo. NBCC's proposal to take over these projects seeks to bring clarity and reassurance to affected stakeholders, including homebuyers and creditors.

According to sources familiar with the matter, NBCC is evaluating the feasibility of acquiring Supertech's pending projects as part of a structured resolution process. The corporation aims to leverage its expertise in project management and construction to expedite completion and deliver promised homes to buyers.

The potential takeover by NBCC is viewed as a proactive step towards mitigating risks associated with stalled projects and restoring confidence in the real estate sector. It reflects efforts to safeguard the interests of homebuyers while ensuring that unfinished projects are brought to fruition without further delays.

NBCC's interest in assuming control over Supertech's pending ventures underscores a commitment to addressing challenges in the real estate market and upholding accountability in project execution. The corporation's proposed intervention could pave the way for resolving long-standing issues and revitalising stalled construction activities, thereby benefiting both buyers and the broader real estate ecosystem.

The National Buildings Construction Corporation (NBCC) has expressed interest in assuming responsibility for all pending projects of Supertech, aiming to facilitate their completion and alleviate concerns among homebuyers. This move comes amid ongoing efforts to resolve the challenges faced by Supertech in delivering its real estate projects. Supertech, a prominent real estate developer, has encountered difficulties in completing several projects, leaving many homebuyers in limbo. NBCC's proposal to take over these projects seeks to bring clarity and reassurance to affected stakeholders, including homebuyers and creditors. According to sources familiar with the matter, NBCC is evaluating the feasibility of acquiring Supertech's pending projects as part of a structured resolution process. The corporation aims to leverage its expertise in project management and construction to expedite completion and deliver promised homes to buyers. The potential takeover by NBCC is viewed as a proactive step towards mitigating risks associated with stalled projects and restoring confidence in the real estate sector. It reflects efforts to safeguard the interests of homebuyers while ensuring that unfinished projects are brought to fruition without further delays. NBCC's interest in assuming control over Supertech's pending ventures underscores a commitment to addressing challenges in the real estate market and upholding accountability in project execution. The corporation's proposed intervention could pave the way for resolving long-standing issues and revitalising stalled construction activities, thereby benefiting both buyers and the broader real estate ecosystem.

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?