NBCC Eyes Complete Takeover of Supertech's Pending Projects

18 Jul 2024 CW Team

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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..