Supreme Court Steps In: New Rules for Supernova Project Sales

A Supreme Court-appointed committee has mandated prior approval for real estate transactions in the Supernova project by Supertech Realtors. The decision aims to protect buyers amid stalled project concerns. Prospective purchases must comply with new rules to avoid invalid transactions.

An empowered committee appointed by the Supreme Court has imposed new restrictions on real estate transactions for the Supernova project in Noida, managed by Supertech Realtors.

The project's 2,800 affected buyers must now obtain prior approval for any sales or transfers involving their units.

The committee, chaired by former Chief Justice M M Kumar, aims to revive the stalled project by onboarding a new developer with the help of PwC as the transaction advisor.