Indian tribunal appoints NBCC to manage stalled Supertech projects, affecting 49,748 homes.

The National Company Law Appellate Tribunal has appointed state-owned NBCC to manage and complete 16 stalled Supertech housing projects worth Rs 9,445 crore. These projects, spread across four states, include 49,748 housing units. NBCC will earn an 8% consultancy fee, including a 1% marketing fee, and aims to start construction by May 1, 2025. This move aims to provide relief to thousands of homebuyers affected by stalled constructions.

3 months ago
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