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Cheated Buyers 12th Feb

have entered into development management contract with Gold Souk

Source : http://www.livemint.com/Companies/lOmSEtbHyd7tEIOBMHR30N/Supertech-to-develop-stuck-projects-of-other-builders.html

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Cheated Buyers 4th Jan

ORB project in Noida; flat-buyers had deposited money since 2012 but construction up to only 12 floors had been completed in the last four years in the 50-floor project‬\r\n\r\n

Source : https://realty.economictimes.indiatimes.com/news/regulatory/ncdrc-sends-notice-to-twinkle-khanna-for-promoting-supertechs-noida-project/62359712?

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CHETAN SHARMA 7th Dec

InCZAR Project, Greater Noida Omicron sector, Supertechbuilt more than 1000 excess flatswithout approval of Gr.Noida Authority.

I booked a Service Apartment inCZAR S-3 tower. Inviewof illegal construction and court case against Supertechby residentsofother towers, IWANT MY MONEY WITH INTEREST TOBE REFUNDED.

CHETAN PRAKASH SHARMA
chetan150751@gmail.com

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Kuldip Goyle Reply 4wk
I have been cheated by Supertech. I WANT MY MONEY WITH INTEREST TO BE REFUNDED. Need help. Kuldip From kgoyle@aol.com
Shaurya Krishna Reply 5mth
Hey, I can help you with this. Our team constantly works to resolve such builder-buyer issues. Feel free to contact me at +91-8521228202 Happy to help! :) Regards, Shaurya
Cheated Buyers 1st Dec

Complainant bought shop in commercial complex, Vaishali in Ghaziabad but later found out that the land did not belong to the realtor; was earmarked as a green belt

Source : https://realty.economictimes.indiatimes.com/news/regulatory/non-bailable-warrants-issued-against-supertechs-chairman-and-three-other-officials/61873049

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CHETAN SHARMA Reply 7mth
CZAR Project in Omicron Sector, Greater Noida. All Supertech Directors to be put behind bars.
Cheated Buyers 1st Dec

Complainant bought shop in commercial complex, Vaishali in Ghaziabad but later found out that the land did not belong to the realtor; was earmarked as a green belt

Source : https://realty.economictimes.indiatimes.com/news/regulatory/non-bailable-warrants-issued-against-supertechs-chairman-and-three-other-officials/61873049

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Mayursinh Kumpavat 30th Nov

NEW DELHI: It was the turn of real estate major Supertech to face the music in Supreme Court on Friday after the court told developers Jaypee Infratech and Unitech earlier this week that they could not escape either refunding money or giving possession of flats to homebuyers.

A bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud appointed advocate Gaurav Agrawal as amicus curiae and asked him to create a web portal on which the 600-odd homebuyers in Emerald Court housing complex in Noida could indicate whether they wanted refund of their money.

When some lawyers, who have invested in Supertech’s 40-storey twin towers in Emerald Court, said they would prefer to take flats instead of refund, the bench said a clear choice will have to be made and those who do not opt for refund now would not be permitted to do so in future.

The SC asked the amicus curiae to prepare a list of homebuyers who preferred refund and asked Supertech to see that all of them were returned their principal investment amount with 14% interest.

Supertech’s counsel Salman Khurshid and Keshav Mohan informed the court that nearly Rs 110 crore had been refunded to homebuyers and said the realtor was ready to return money to all those who wanted to reclaim their investment. The court asked Supertech to give details of refund to the amicus, who was asked to submit a report on October 23.

On April 12, 2014, the Allahabad High Court had ordered authorities to demolish the 40-storey ‘Apex’ and ‘Ceyane’ towers in ‘Emerald Court’ complex in Noida’s Sector 93A on finding that the builder had “by joining hands with officers of the development authorities flouted every conceivable rule, including building regulations”. On appeal by Supertech, the SC stayed the demolition but asked the builder to refund money to homebuyers with 14% interest.

A petition by ‘Emerald Court Owner Resident Welfare Association’ had alleged that construction of the two towers was “in complete violation of UP Apartment Act, 2010”. The association had also challenged the reviewed plan for construction of the two towers in violation of Noida Building Regulation and Directions, 2010.

The petitioners had alleged that the Noida Authority had given permission for raising the height of the two towers, which were earlier supposed to have only 24 floors, “without maintaining the mandatory distance of 16 metres from an adjoining building block, making it unsafe, apart from blocking air and light”. Through a sanction order of March 2, 2012, Noida authorities had permitted raising of the towers\\\' height from the sanctioned 66 metres to 121 metres.

https://timesofindia.indiatimes.com/india/sc-to-supertech-give-flats-or-refund-money-with-14-interest/articleshow/60801869.cms

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Kuldip Goyle Reply 4wk
I have been cheated by Supertech. I WANT MY MONEY WITH INTEREST TO BE REFUNDED. Need help. Kuldip From kgoyle@aol.com
Mayursinh Kumpavat 30th Nov

The Noida-based firm also plans to launch next month a sports-centric housing project in Noida Extension (Greater Noida - West) where it would develop over 4,500 flats/villas at a cost of Rs 1,100 crore

NEW DELHI: Realty firm Supertech has raised Rs 350 crore from L&T Finance to fund an ongoing housing project in Greater Noida.

The Noida-based firm also plans to launch next month a sports-centric housing project in Noida Extension (Greater Noida - West) where it would develop over 4,500 flats/villas at a cost of Rs 1,100 crore.

\\\"We have raised Rs 350 crore from L&T Finance for our Eco Village-I project at Noida Extension,\\\" Supertech Managing Director Mohit Arora told .

The company is developing 7,500 flats in this project, he added.

Supertech Chairman R K Arora said the money raised is in the form of debt.

The company has already delivered 2,000 flats in the Eco Village-I project and the funds will be utilised towards completing the remaining 5,500 apartments, he added.

In view of the slowdown in the property market, real estate developers are raising funds from private equity players and other financial institutions to complete their projects.

Supertech has two more projects in Noida Extension -- Eco Village II and Eco Village III comprising 7,500 and 5,000 apartments, respectively. In these three projects, the company is developing around 20,000 flats, of which 16,000 units have been already sold.

Managing Director Mohit Arora said the company is focusing on delivery of existing projects and has targeted to complete 10,000 flats annually for the next 4-5 years.

He said the company has delivered 20,000 units in the last three financial years.

On sales, he said the company expects bookings to bounce back this year on the back of increased demand for affordable homes in the Delhi-NCR market after many incentives announced by the government for low-cost homes.

Its sales had fallen to about Rs 1,500 crore last fiscal from around Rs 3,000 crore in the previous year.

Supertech has projects in Noida, Greater Noida, Ghaziabad, Gurugram, Meerut, Muradabad, Dehradun, Haridwar, Rudrapur and Bengaluru.

L&T Finance is the financial services arm of engineering major L&T.

http://profit.ndtv.com/news/property/article-supertech-raises-rs-350-crore-from-l-t-finance-1754533

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Mayursinh Kumpavat 30th Nov

In a breather to flat buyers, the Supreme Court on Friday directed that an online portal be set up for those seeking a refund of their money invested in the Supertech’s Emerald Court project in Noida.

In a breather to flat buyers, the Supreme Court on Friday directed that an online portal be set up for those seeking a refund of their money invested in the Supertech’s Emerald Court project in Noida. While appointing advocate Gaurav Aggarwal as the amicus curiae in the case, a bench headed by Chief Justice Dipak Misra said that the flat buyers should register their claims for refund on the portal and also asked the builder to refund the principal amount with interest at the rate of 14%, as directed by the Allahabad High Court. Supertech has so far deposited `20 crore with the Supreme Court registry.
The twin towers — Apex and Ceyane — in its Emerald Court residential project on Noida Expressway have 857 apartments, out of which 600 have been sold. The Emerald Court House on the outskirts of the capital has 15 other towers, fully built with residents living there. There are around 53 allottees out of around 600, who had sought refund of their amount after the HC had in April 2014 ordered the demolition of the two 40-storey residential twin towers and directed Supertech to refund money to home buyers with 14% interest in three months.
To safeguard the interests of home buyers, the apex court had last week issued similar directions to the buyers of real estate developer Unitech. Buyers were asked to specify on the website whether they wanted possession of their flats or refund of the money paid to the builder. Earlier, the Supreme Court had appointed state-owned construction company NBCC India to verify compliance of safety norms by real estate firm Supertech Builders in constructing the twin towers. The NBCC in its report had said, “The open space available between the two towers Tower 1 (Aster 2) and Tower 17 is less than 20.45 metres as prescribed in the NBC rules.
Thus from the above observations and inferences, NBCC concludes the opinion that the two towers, Tower 1 (Aster 2) and Tower 17 is not compliant with the REG 24.2.1(6)of Noida Building Regulations 2010.” The apex court had in July 2014 directed Supertech to refund within a month around Rs 35 crore to the allottees of the two towers, which have been held illegal by the HC. The HC had also asked Supertech to allot alternative flats within a month to those allottees who did not want a refund and had agreed to accept builder’s offer to opt for a flat in any other Supertech project.
The high court order had come on a petition of the Emerald Court Owner Residents Welfare Association, which had alleged that the approval and construction of the two towers was “in complete violation of the Uttar Pradesh Apartment (Promotion of Construction, Ownership and Maintenance) Act”. The association has also claimed the authority had given permission to raise the height of the two towers, which was earlier supposed to have only 24 floors each, “without maintaining the mandatory distance of 16 metre from an adjoining building block”, making it “unsafe, apart from blocking air and light”.

http://www.financialexpress.com/industry/supertech-homebuyers-row-sc-says-those-who-want-their-money-back-will-be-refunded-wants-grievance-redressal-portal-in-place/867080/

http://www.financialexpress.com/industry/supertech-homebuyers-row-sc-says-those-who-want-their-money-back-will-be-refunded-wants-grievance-redressal-portal-in-place/867080/

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Kuldip Goyle Reply 4wk
I have been cheated by Supertech. I WANT MY MONEY WITH INTEREST TO BE REFUNDED. Need help. Kuldip From kgoyle@aol.com
Mayursinh Kumpavat 29th Nov

Residents had petitioned in the Allahabad high court that the realty company has built 1,904 units instead of the sanctioned 844 units at the Czar housing project.

Greater Noida: The Uttar Pradesh government has directed the Greater Noida authority to decide if it wants to legalise or demolish Supertech’s 1,060 illegal flats in the Czar housing project.

A group of residents had petitioned in the Allahabad high court that the realty company of building 1,904 units instead of the sanctioned 844 units at the Czar.

“We have directed the Greater Noida authority to look into the issue. The Greater Noida authority chief executive officer has to decide if the 1,060 flats are legal or illegal as per the city’s building bylaws. Since the flats were built without requisite approvals, I do not think such a large number of flats can be approved now. But it is up to the Greater Noida CEO to take a call,” said Alok Sinha, principal secretary, infrastructure and industrial development department, Uttar Pradesh.

Earlier, the Greater Noida authority had submitted an affidavit in the Allahabad high court admitting that 1,060 flats are illegal because these are built without the requisite approvals. Following the high court’s orders, the Greater Noida authority, on April 27 this year, had sealed 1,060 illegal flats in Czar housing project located in sector Omicron-1.

After the sealing, Supertech pleaded before the high court for the state government to hear their plea, which was allowed by the court. Subsequently, UP government asked the principal secretary to hear Supertech’s plea.

Over the next week, Greater Noida authority CEO Debasish Panda is likely to decide the fate of these 1,060 flats.

“The CEO is expected to look into this case on Monday. CEO will look into the case and then decide whether these flats can be approved or not as per the building bylaws,” said Bal Krishan Tripathi, additional CEO of the Greater Noida authority.

On January 11, 2017, the Allahabad high court had stayed allotment of flats in Supertech’s Czar project after it took cognizance of a plea by home owners, including one VK Sharma. They submitted that the real estate major had built the residential units in violation of the sanctioned building plans.

“In 2016, the Greater Noida authority had ordered demolition of the illegal flats. It admitted in the court that 1,060 flats are illegal. Therefore, the authority cannot reverse its earlier order,” Sharma, a petitioner, said.

Supertech has denied charges leveled by the petitioner.

“We constructed more flats because we increased the population density in keeping with the law. All allegations by petitioners are untrue. The government has given directions to the authority to decide as per the building bylaws applicable,” said RK Arora, CMD of the Supertech Group.

Box: Background

The Greater Noida authority had allotted 20 acres to Supertech in 2006 in Sector Omicron-1. The realty firm has built group housing towers and named the project Czar. Some 450-odd families live in the society.

On January 11, 2017, the Allahabad high court stayed the allotment of illegally constructed flats in Supertech Czar Suites on plot number GH-2, Sector-Omicron-1 of Greater Noida. HC order came in response to a plea filed by nine residents, who demanded demolition of the illegally built flats.

Residents went to court because construction of additional flats will overburden the project’s supporting facilities.

http://www.hindustantimes.com/noida/decide-whether-to-legalise-or-demolish-supertech-s-1-060-flats-up-govt-tells-g-noida-authority/story-G5UmjygeXEgMpXuKbeH8BM.html

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Mayursinh Kumpavat 28th Nov

NEW DELHI: Holding that real estate companies must fulfil their obligation to hand over flats to buyers on time, the Supreme Court has directed Supertech Ltd to refund around Rs 1 crore to a buyer for delay in giving possession of a flat in its Noida project.

A bench of Justices A K Goel and U U Lalit turned down the plea of the company that it could not complete the project on time as construction was stayed because of adverse order from NGT and held that the buyer should not suffer because of delay in the project.

In this case, the buyer, Ankur Goswami, had booked a flat worth of Rs 1.1 crore in Supertech’s Capetown project in Sector 74 Noida in October 2012 and was assured by the company that it would be handed over by October, 2013. As construction was not complete even three years after the deadline, Goswami initiated legal proceedings against the company in 2016 and filed a complaint before the National Consumer Disputes Redressal Commission through his advocate Dushyant Singh.

The Commission in July directed the company to refund Rs 96 lakh deposited by him with 10% interest. It rejected the contention of the company which had taken the defence that the flat buyer had not deposited the amount on time and allowed his plea. “Having not cancelled the allotment on account of the delay in making payment, the company cannot now deny refund of the amountpaid to it by the complainant on account of the aforesaid alleged delay,” the commission had said.

The Company thereafter approached the SC challenging NCDRC’s verdict. Advocate Preetika Dwivedi, appearing for Supertech told the bench that delay in the project was because of unforeseen reasons and the company was committed to complete the project as soon as possible and pleaded the court to set aside the order.

The bench, however, was not satisfied with her arguments and , said there was a violation of contract as the company had promised to hand over the flat in 2013 itself and there was inordinate delay of almost four years. “As a builder you must fulfil your promise to hand over the possession on time and you must also be ready for all eventualities,” the bench said.

The bench also rejected her plea to waive off interest on the amount deposited by Goswami. It said that 10% was very less in comparison to 24% interest which real estate companies charged from flat buyers for default in payment.

“We do not find any ground to interfere with the impugned order. The appeal is, accordingly, dismissed. The statutory deposit of Rs. 50,000in this Court may be withdrawn by the respondents,” the bench said.

https://content.magicbricks.com/property-news/delhi-ncr-real-estate-news/sc-directs-supertech-to-refund-rs-1-crore-to-homebuyer-for-delayed-possession/95110.html

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Mayursinh Kumpavat 26th Sep

Create a web portal on which the 600-odd homebuyers in Emerald Court housing complex in Noida could indicate whether they wanted refund of their money

NEW DELHI: It was the turn of real estate major Supertech to face the music in Supreme Court on Friday after the court told developers Jaypee Infratech and Unitech earlier this week that they could not escape either refunding money or giving possession of flats to homebuyers.

A bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud appointed advocate Gaurav Agrawal as amicus curiae and asked him to create a web portal on which the 600-odd homebuyers in Emerald Court housing complex in Noida could indicate whether they wanted refund of their money.

When some lawyers, who have invested in Supertech’s 40-storey twin towers in Emerald Court, said they would prefer to take flats instead of refund, the bench said a clear choice will have to be made and those who do not opt for refund now would not be permitted to do so in future.

The SC asked the amicus curiae to prepare a list of homebuyers who preferred refund and asked Supertech to see that all of them were returned their principal investment amount with 14% interest.

Supertech’s counsel Salman Khurshid and Keshav Mohan informed the court that nearly Rs 110 crore had been refunded to homebuyers and said the realtor was ready to return money to all those who wanted to reclaim their investment. The court asked Supertech to give details of refund to the amicus, who was asked to submit a report on October 23.

On April 12, 2014, the Allahabad High Court had ordered authorities to demolish the 40-storey ‘Apex’ and ‘Ceyane’ towers in ‘Emerald Court’ complex in Noida’s Sector 93A on finding that the builder had “by joining hands with officers of the development authorities flouted every conceivable rule, including building regulations”. On appeal by Supertech, the SC stayed the demolition but asked the builder to refund money to homebuyers with 14% interest.

A petition by ‘Emerald Court Owner Resident Welfare Association’ had alleged that construction of the two towers was “in complete violation of UP Apartment Act, 2010”. The association had also challenged the reviewed plan for construction of the two towers in violation of Noida Building Regulation and Directions, 2010.

The petitioners had alleged that the Noida Authority had given permission for raising the height of the two towers, which were earlier supposed to have only 24 floors, “without maintaining the mandatory distance of 16 metres from an adjoining building block, making it unsafe, apart from blocking air and light”. Through a sanction order of March 2, 2012, Noida authorities had permitted raising of the towers\\\' height from the sanctioned 66 metres to 121 metres.

https://timesofindia.indiatimes.com/india/sc-to-supertech-give-flats-or-refund-money-with-14-interest/articleshow/60801869.cms

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Kuldip Goyle Reply 4wk
I have been cheated by Supertech. I WANT MY MONEY WITH INTEREST TO BE REFUNDED. Need help. Kuldip From kgoyle@aol.com
Mayursinh Kumpavat 26th Sep

The Noida-based firm also plans to launch next month a sports-centric housing project in Noida Extension (Greater Noida - West) where it would develop over 4,500 flats/villas at a cost of Rs 1,100 crore

NEW DELHI: Realty firm Supertech has raised Rs 350 crore from L&T Finance to fund an ongoing housing project in Greater Noida.

The Noida-based firm also plans to launch next month a sports-centric housing project in Noida Extension (Greater Noida - West) where it would develop over 4,500 flats/villas at a cost of Rs 1,100 crore.

\\\"We have raised Rs 350 crore from L&T Finance for our Eco Village-I project at Noida Extension,\\\" Supertech Managing Director Mohit Arora told .

The company is developing 7,500 flats in this project, he added.

Supertech Chairman R K Arora said the money raised is in the form of debt.

The company has already delivered 2,000 flats in the Eco Village-I project and the funds will be utilised towards completing the remaining 5,500 apartments, he added.

In view of the slowdown in the property market, real estate developers are raising funds from private equity players and other financial institutions to complete their projects.

Supertech has two more projects in Noida Extension -- Eco Village II and Eco Village III comprising 7,500 and 5,000 apartments, respectively. In these three projects, the company is developing around 20,000 flats, of which 16,000 units have been already sold.

Managing Director Mohit Arora said the company is focusing on delivery of existing projects and has targeted to complete 10,000 flats annually for the next 4-5 years.

He said the company has delivered 20,000 units in the last three financial years.

On sales, he said the company expects bookings to bounce back this year on the back of increased demand for affordable homes in the Delhi-NCR market after many incentives announced by the government for low-cost homes.

Its sales had fallen to about Rs 1,500 crore last fiscal from around Rs 3,000 crore in the previous year.

Supertech has projects in Noida, Greater Noida, Ghaziabad, Gurugram, Meerut, Muradabad, Dehradun, Haridwar, Rudrapur and Bengaluru.

L&T Finance is the financial services arm of engineering major L&T.

http://profit.ndtv.com/news/property/article-supertech-raises-rs-350-crore-from-l-t-finance-1754533

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Mayursinh Kumpavat 26th Sep

In a breather to flat buyers, the Supreme Court on Friday directed that an online portal be set up for those seeking a refund of their money invested in the Supertech’s Emerald Court project in Noida.

Flat buyers, Emerald Court, Supreme Court, Noida, Supertech Emerald Court
In a breather to flat buyers, the Supreme Court on Friday directed that an online portal be set up for those seeking a refund of their money invested in the Supertech’s Emerald Court project in Noida.

In a breather to flat buyers, the Supreme Court on Friday directed that an online portal be set up for those seeking a refund of their money invested in the Supertech’s Emerald Court project in Noida. While appointing advocate Gaurav Aggarwal as the amicus curiae in the case, a bench headed by Chief Justice Dipak Misra said that the flat buyers should register their claims for refund on the portal and also asked the builder to refund the principal amount with interest at the rate of 14%, as directed by the Allahabad High Court. Supertech has so far deposited `20 crore with the Supreme Court registry.

The twin towers — Apex and Ceyane — in its Emerald Court residential project on Noida Expressway have 857 apartments, out of which 600 have been sold. The Emerald Court House on the outskirts of the capital has 15 other towers, fully built with residents living there. There are around 53 allottees out of around 600, who had sought refund of their amount after the HC had in April 2014 ordered the demolition of the two 40-storey residential twin towers and directed Supertech to refund money to home buyers with 14% interest in three months.
To safeguard the interests of home buyers, the apex court had last week issued similar directions to the buyers of real estate developer Unitech. Buyers were asked to specify on the website whether they wanted possession of their flats or refund of the money paid to the builder. Earlier, the Supreme Court had appointed state-owned construction company NBCC India to verify compliance of safety norms by real estate firm Supertech Builders in constructing the twin towers. The NBCC in its report had said, “The open space available between the two towers Tower 1 (Aster 2) and Tower 17 is less than 20.45 metres as prescribed in the NBC rules.

Thus from the above observations and inferences, NBCC concludes the opinion that the two towers, Tower 1 (Aster 2) and Tower 17 is not compliant with the REG 24.2.1(6)of Noida Building Regulations 2010.” The apex court had in July 2014 directed Supertech to refund within a month around Rs 35 crore to the allottees of the two towers, which have been held illegal by the HC. The HC had also asked Supertech to allot alternative flats within a month to those allottees who did not want a refund and had agreed to accept builder’s offer to opt for a flat in any other Supertech project.
The high court order had come on a petition of the Emerald Court Owner Residents Welfare Association, which had alleged that the approval and construction of the two towers was “in complete violation of the Uttar Pradesh Apartment (Promotion of Construction, Ownership and Maintenance) Act”. The association has also claimed the authority had given permission to raise the height of the two towers, which was earlier supposed to have only 24 floors each, “without maintaining the mandatory distance of 16 metre from an adjoining building block”, making it “unsafe, apart from blocking air and light”.

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Mayursinh Kumpavat 31st Aug

This episode focuses on Supertech Builders, which dupe home buyers by confusing them between carpet area and super built-up area.

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SUPERTECH GOLF VILLAGE YAMUNA EXP WAY

Mayursinh Kumpavat 24th Aug

SUPERTECH GOLF VILLAGE YAMUNA EXP WAY

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