As part of our ongoing series on big developers whose projects have been delayed in a big way, we highlight real estate giant Supertech. Industry sources say a majority of the company’s projects are facing delays, leaving nearly 35,000 home buyers in the lurch.
35,000 Home Buyers Left Out In The Cold
Shailendra Baranwal still cannot believe the situation he is in. He invested in Supertech’s Ecovillage II project in 2011 with delivery promised in 2014. In 2015, the company asked him to finish payments on the flat as the finishing touches were being put in place. But a year later, Shailendra says he still has not been given possession of his apartment.
“I had paid the full payment and also received No Dues Certificate (NDC). It’s been a year since the full payment has been made and despite that I have not received my flat. I have been writing emails to the company but there is no outcome.”
It is the same story with Supertech’s Ecovillage 1 project which was supposed to be completed in 2013. Suresh (name changed on request), a buyer in the project says he visits the construction site every month to track its progress. He claims to have seen hardly any construction over the past year and half. While a few families have moved into their homes in the project, Suresh says they have not been issued Completion Certificates (CC) – an essential document that proves that authorities have given their seal of approval on the finished product.
Industry sources say that 27 of the Supertech Group’s projects in Delhi/NCR are running behind schedule, with average delays ranging from 2 to 3 years.
— NDTVPropertyShow (@NDTVProperty) 3 June 2016
Supertech Promises Project Completions Within A Year
When NDTV contacted the company to discuss these issues, the management took refuge behind the same excuses that most developers in Delhi/NCR are using, blaming land acquisition issues, farmer agitations and adverse National Green Tribunal (NGT) rulings for the delay. However, the group’s chairman RK Arora has stated that construction on these projects has started again and expects delivery of these apartments soon.
“As per my calculation, I think we will complete all projects in one year from now. We have 3 ongoing projects in Greater Noida West and have delivered 6,000 flats out of 20,000 units. We will complete most of the projects soon”.
But home buyers are skeptical about company’s claims, with many unconvinced that the developer will be able to complete construction by the end of the year. They have now taken their fight to the streets and are demanding strict action from local authorities and the Uttar Pradesh Government. Many of them have even come together to file suits against Supertech in the consumer courts, with hearings on the case expected to begin in the next couple of months.
Reporter: Chankya Bhatia, NDTV
Web Editor: Nikhil Narayan Sivadas, NDTV