Supertech hands over 1,000 homes to buyers in 2 Noida projects

NEW DELHI: Realty firm Supertech Ltd today said it is handing over 1,000 housing units to customers in its two housing projects in Noida.

The two housing projects 'Ecociti' and 'Capetown' are spread over 13 acres and 50 acres, respectively. These projects were launched in 2009-2010 and there has been a delay of 6-12 months in both these projects.

Real estate sector is facing a slowdown since last 2-3 years due to high interest rates and slow economic growth, resulting in huge delay in completion of projects.

"On the occasion of Diwali, Supertech is handing over more than 1,000 units in Ecociti at Sector 137 and Capetown, Sector 74, Noida," the company said in a statement.

Supertech CMD RK Arora said: "It is indeed a very happy and proud moment for us while we offer possession of part of our two projects, Ecociti and Capetown. Keeping our commitment, we are delivering these phases to our customers on Diwali."

With projects worth more than Rs 18,000 crore in hand, the company has over 90 million sq ft under construction. It has presence in Noida, Greater Noida, Gurgaon, Ghaziabad, Meerut, Moradabad, Haridwar, Rudrapur and Bengaluru.