NBCC (India) Limited, a state-owned construction major, has been appointed by the Hon’ble NCLAT (National Company Law Appellate Tribunal) to complete 16 stalled projects of Supertech Limited. The assignment positions NBCC as the Project Management Consultant (PMC) for the initiative, encompassing a massive 49,748 housing units across multiple states in India.
Project Overview:
- Scope of Work: Completion of 16 residential projects involving 49,748 housing units.
- Geographical Spread: The projects are located in Uttar Pradesh, Uttarakhand, Haryana, and Karnataka.
- Estimated Construction Cost: ₹9,445 crore, including a 3% contingency fund.
- PMC Fees: Fixed at 8% of the project cost, which includes a 1% marketing fee.
Significance of the Project:
The decision to appoint NBCC as the PMC comes amid long-standing delays in the completion of Supertech’s residential projects, leaving thousands of homebuyers in distress. By taking over the management and execution, NBCC aims to ensure the timely delivery of these units, restoring confidence among homebuyers and boosting the credibility of government-backed initiatives in resolving such issues.
