SC to hear NBCC plea for RERA relief in 16 stalled Supertech projects: Case explained

The Supreme Court has agreed to hear a petition filed by NBCC Ltd, a state-owned company, challenging an NCLAT order that denied NBCC exemption from certain RERA obligations while completing 16 stalled housing projects of debt-ridden Supertech Ltd. The case will be heard on September 24, along with other pending matters. NBCC requested relief from RERA provisions as it takes over the completion of Supertech's stalled residential projects, following the developer's financial difficulties and subsequent insolvency proceedings in 2021.

The 16 projects comprise a total of 49,748 homes across Uttar Pradesh, Uttarakhand, Haryana, and Karnataka, with around 27,000 homebuyers still awaiting possession. The Supreme Court previously upheld an NCLAT order in February, allowing NBCC to proceed with the projects in the interest of homebuyers. NBCC proposed completing the 16 projects in three phases, with the first phase including projects in Noida and Greater Noida, the second phase covering projects in Noida, Yamuna Expressway, Greater Noida, and Meerut, and the third phase comprising projects in Gurugram, Rudrapur, Dehradun, and Bengaluru.