Vinod Kumar’s journey as a homebuyer began over a decade ago when he purchased a property in Greater Noida with hopes of providing a stable home for his family. Now, at 51, he finds himself still awaiting the completion of his flat, which he initially invested in back in 2012, making his final payment in 2015. With his daughter now 17 and his son in college, Kumar resides in Delhi, paying rent while still managing the loan for a property that remains unfinished.
“I cannot articulate the extent of my distress,” Kumar shared. “The stress has taken a toll on my health, leading to high blood pressure and frequent dizziness.” The situation is even more disheartening as his building is nearing completion. “Only two floors in my tower are yet to be occupied. Securing possession would alleviate my rental expenses,” he added. “This flat has devastated my life.”
Kumar’s experience is far from unique. In total, thousands of middle-class homeowners have been left in limbo as they await the completion of 16 stalled projects by Supertech in Noida and Greater Noida, many of whom are engaged in prolonged legal disputes.
In 2017, Kumar took action by filing a complaint with the State Consumer Commission, but the proceedings were delayed by the COVID-19 pandemic, and subsequent insolvency issues faced by the builders have left him still struggling for resolution.
On August 25, the National Company Law Appellate Tribunal (NCLAT) acknowledged the slow progress on these projects and called for a detailed status report from the National Buildings Construction Corporation (NBCC), the state-run firm responsible for overseeing their completion.
During the tribunal session, legal representatives for the homebuyers expressed serious concerns regarding the persistent delays and deviations from timelines set by a court-appointed committee and the NBCC.
The petitioners include residents from various developments such as Sports Village, Eco Village 1, 2, and 3, UP Country, and Czar Suites in Greater Noida, as well as Ecociti, Romano, Capetown, and North Eye in Noida.
Even for some who have received possession, the challenges have not ended. At Eco Village 1, an incomplete tower still stands at the entrance, with construction equipment still in place. B N Gupta, who booked a two-bedroom flat in March 2010, was promised delivery by 2013, yet construction only began in earnest in 2017 and 2018.
His sentiments are echoed by Mrityunjay Kumar Jha, 46, who also faces similar frustrations in Eco Village 3. Although he received possession of his flat in 2017, the registration has yet to be finalized. “We are burdened with higher EMIs. We can’t transfer our loans, and if we attempt to sell, we receive far less than the property’s value,” Jha noted.
According to the Enforcement Directorate, approximately 30,000 homebuyers are still waiting for possession across 16 major stalled projects. The agency is investigating a money laundering case involving Supertech’s promoter, Ram Kishore Arora, linked to allegations of siphoning off hundreds of crores to various entities.
In December 2024, the NCLAT mandated the NBCC to expedite the completion of 16 out of 30 stalled projects by Supertech, covering nearly 50,000 homes. The Supreme Court later affirmed this directive, instructing the NCLAT to hasten its review of the remaining projects to determine if they should be placed under judicial oversight to ensure their completion.
