Supertech says will deliver over 8,000 flats to homebuyers by this December

Real estate developer Supertech said it will hand over to homebuyers 8,463 flats by December this year and a total of over 16,000 units by 2023 in delayed projects in Noida, Greater Noida and Meerut

Real estate developer Supertech on Friday said it will hand over to homebuyers 8,463 flats by December this year and a total of over 16,000 units by 2023 in delayed projects in Noida, Greater Noida and Meerut.

There are 13 projects in total five in Noida, four in Greater Noida, two each on Yamuna Expressway and in Meerut, with 16,041 units that would be handed over from December 2021 till June 2023, the realty group said.

The announcement comes within two days of a meeting of Supertech representatives with officials of the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA), which had reviewed the delayed projects of the developer.

"Supertech Group in the meeting with UP RERA said it will complete construction and give delivery of 8,463 units by December 2021, 7,347 units by December 2022 and 231 units subsequently in its various projects in Uttar Pradesh," it said in a statement.

Supertech Group Chairman R K Arora said the delay has been on account of the unprecedented two waves of the COVID-19 pandemic which hit all the realty projects.

Supertech Group will complete these projects from internal accruals and the Group has positive net worth to meet the funds requirements, Arora said.

The projects for hand-over include Romano, Crown Towers, ORB, North Eye and Supernova in Noida, Eco Village I, Eco Village II (Phase I), Eco Village II (Phase II) and Eco Village III in Greater Noida besides Upcountry and Golf Country along the Yamuna Expressway, Meerut Sports City and Green Village Meerut, according to the statement.

"RERA's objective is to see that every homebuyer gets their home. We review the situation of all projects time to time and have met with 60 promoters involved in around 150 projects in the state this month," UP RERA chairman Rajive Kumar told PTI.

"Supertech's projects have also been reviewed and checked for compliance of RERA orders. This (announcement by the group) has come as part of the RERA's exercise," Kumar added.

According to the schedule shared by the real estate major, 8,463 units are to be handed over by December 2021, 2,308 by March 2022, 1,132 by June 2022, 3,907 by December 2022 and 231 in 2023.

Many of these projects in Noida and Greater Noida are long delayed with Supertech often facing protests by homebuyers and scathing court directions.