Supertech homebuyers move SC as 17 stalled projects remain stuck, Rs 30 crore
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Homebuyers of Supertech Limited have raised significant concerns regarding the lack of progress on stalled housing projects. The Homebuyers’ Association alleges that funding for the projects has been repeatedly declined, despite available proposals. The Association urges the Supreme Court to appoint a One-Man Committee for project completion. They emphasize the financial burden on homebuyers due to growing expenses without any delivered units.
New Delhi: Homebuyers of Supertech Limited and the Supernova project have raised serious concerns before the Supreme Court over the lack of progress in the resolution of 16 stalled projects of Supertech and the Supernova project, alleging that the mechanism put in place to protect their interests has failed to deliver the desired results.The Homebuyers’ Association submitted that NBCC had assured the Court that it would work on a war footing to complete the projects.
Also Read: NBCC sets Rs 9,620 crore plan to revive 16 stalled Supertech projects
However, the Association alleged that the situation on the ground remained deeply disappointing, with progress falling far short of the assurances given to the Court.
“The Applicants respectfully submit that the present arrangement has completely failed, as there has been no substantive progress on the ground and, more importantly, there is no funding in place, which alone can bring about completion. At the same time, funding proposals from financial institutions are available on record and have been declined by the Ld. ACC only on the ground that they are expensive. Meanwhile the cost of the process, borne entirely out of the monies of the homebuyers, continues to mount,” the association has said in a petition.
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The Association also strongly opposed NBCC’s request for exemption from the requirements of RERA, submitting that if NBCC insisted on such exemption, it should be removed from the projects.
The homebuyers emphasised that their primary concern was the timely completion of their homes and the protection of their interests.
Highlighting the financial burden on homebuyers, the Association submitted that more than Rs 30 crore had already been spent by the committees and consultants on fees and related expenses, without a single unit being delivered or even a single brick being laid, as alleged before the Court.
The Association further pointed out that NBCC has failed to fulfil its obligation to arrange a minimum seed fund of Rs 100 crore.
The Association also brought to the Court’s attention a substantial funding proposal reportedly made by a reputed fund, which, according to the Association, was being obstructed for reasons that remained unexplained. It submitted that the delay in taking the funding proposal forward was further hampering the progress of the projects.
“The Applicants therefore pray that a One-Man Committee consisting of a former Judge of this Court or a real estate expert, as this Court may deem fit, be constituted for all the 17 Projects, and that the said One-Man Committee and the Ex-Management be made responsible, under the supervision of this Court, for the completion and delivery of the 17 Projects, such completion being always the primary obligation of the Ex-Management, within a time schedule fixed by this Court, with all monies routed through an escrow under the control of the One-Man Committee and with no additional cost to the homebuyers,” the association has said.
The Court also indicated that the Homebuyers’ Association and other stakeholders should submit a one-page proposal setting out a viable way forward. The Court observed that if the funding proposal was found to be genuine, it would consider the same.
Also Read: Homebuyers of Supertech projects worried over constant delay to approach Supreme Court
The matter has been renotified for November 16, 2026, giving the stakeholders an opportunity to place a concrete proposal before the Court.
NBCC (India) Limited had earlier floated 25 tenders for Rs 9,620.33 crore for construction and related works across the project portfolio.
NBCC was appointed as the Project Management Consultant (PMC) for completion of these projects by the National Company Law Appellate Tribunal (NCLAT) in December 2024 but there has been no progress since then.
The 16 projects, spread across Uttar Pradesh, Haryana, Uttarakhand and Karnataka, comprise nearly 50,000 stalled housing units.
The Supreme Court, in February 2026, upheld NBCC’s mandate, providing the necessary legal certainty for implementation of the completion plan.
These 16 projects comprise 50,962 homes, of which 39,870 were sold. Of the homes that were sold, 24,871 were already handed over to buyers, while 14,999 are yet to be delivered.
Completion of work on the sold apartments requires an investment of Rs 1,700 crore. Receivables from these units are estimated to be Rs 2,200 crore.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
