Investment in Supertech SuperNova, Astralis office space & Spira studio apartments, Loss or Profit
As per Location
The Supertech SuperNova is situated on the service road of the Noida Expressway. The beauty of this project is that this project is exactly located at Noida Expressway.
The project is facing Mahamaya flyover and Metro station. Supertech Supernova is properly connected to multiple transportation facilities and other civic facilities.
The project is just a 10-minutes drive from Noida Golf Course & sector-18 Noida. The project is also very close to Amity university campus. Supertech Supernova is also very close to National capital Delhi. Overall, Supertech Supernova is properly connected with the main points of Noida, Greater Noida, and Delhi. It’s an approachable location project.
Possession | Construction Update
|Construction Status||Under Construction|
|RERA Registration No||Supertech Supernova- UPRERAPRJ7223|
|Possession Date||June-2019 (still under construction)|
|Architect Name||Modarch India|
|COVID-19 Lockdown Status||COVID-19, an event of ‘Force Majeure’. Completion/possession date extended for 6 months for all projects expiring on or after 25.03.2020 by the Government.|
Drawbacks | Bad Factors
The Supertech SuperNova is already delayed by more than three years and at present, the construction is very slow. The project is hardly complete in the revised time frame.
As we have seen above, the entire construction is planned well and the locality is also chosen well. The drawback here though is the fact that construction has completely slowed down. With a possession date set in another year’s time, the project has a long way to go for completion. It seems to have already outlived its past expectancy date of completion which has caused a lot of worry in the minds of investors.
The project has been Launched and re-launched several times already with new completion target dates and yet there has been no significant progress. There is not much help from the Noida authority as well on this issue.
The investors who have their money into the project are already trying to sell their property and recover their capital. It has been a cumbersome experience for investors who deal with soft launch projects along with Noida or any other location along with Delhi NCR.
The Noida Authority has turned this area of the Delhi NCR into a nuisance zone. The builders are fear-free and are allowed to do all sorts of nasty things.
It is probably not the right choice of investment for those who are looking for ROI in the next year or so. Given the doubts surrounding the possession date, there may not be a real appreciation of value for resale in a year. In fact, investors who are trying to make a sale of their property in the Supertech SuperNova are now struggling to reach their desired price.
The Supertech Supernova, tallest tower of North India is a mixed-use development, having commercial shops and office spaces on the lower floors, apartments on some floors and then studio apartments, Serviced apartments, hotel, nightclub, Mall and beer bar. How this work in Indian context/ culture? how will security and privacy be ensured for the residents? Even with access controlled elevators, this would be a nightmare to ensure.
The Supertech Supernova is very close to several cremation grounds.
Supertech Supernova Price & Delivery Track Record Comparison With Other Projects/Developers Of Noida Expressway
|PROJECT NAME||PRICE (PSF)||DELIVERY TRACK RECORD/REMARKS|
|SUPERNOVA ASTRALIS||6,500||Delay Possession|
|CYBERTHUM||5500-5990||Zero debt, On-Time Delivery, Quality Construction, delivered several commercial projects in Delhi-NCR.|
|WTC NOIDA CBD||7,650||Not Satisfactory|
|OH My God||Delay Possession, Stuck|
|ASSOTECH BUSINESS CRESTERA||5990-6190||Delay Possession|
|Urbtech Trade Centre||6,500||Delay Possession|
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Products & Developer
Supertech SuperNova is under development by Supertech Limited. It’s a mix of land use property. The project consists of commercial retail shops, “Aurora” shopping Malls, hotel, The “Astralis” office space, and The “Spira” studio apartments. At present, commercial shops of the Supertech SuperNova the “Aurora” shopping Mall is not for sale.
Builder Profile | Track Record
|FOUNDERS||Ram Kishor Arora|
|KEY PEOPLE||Mohit Arora, Vikas Kansal, Anil Sharma|
|COMPANY /PROMOTER||Supertech Limited|
|PRODUCTS||Apartments, Villas, Golfcourse, Commercial offices, Shopping Malls, Hotels, Leisure & Hospitality, Retail|
|AREA SERVED||Delhi-NCR (Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon)|
|PROJECTS COMPLETED||Shoprix Mall, Supertech e-Square|
|PROJECTS ONGOING||Supertech Hypernova Mall, Super Nova, start in a 2012-till date not completed. Supertech Cape Town- starts 2010|
|DELIVERY TRACK RECORD||delay possession, long wait|
|RISK||Delay completion, poor construction quality, bank & Noida authority dues|
|DEBT||Defaulter (Builder is in the defaulter list of Noida Authority)|
|LITIGATION||Facing corruption charges in Indian courts|
|OFFICE ADDRESS||Supertech Limited
B 28-29, Sec-58,
Noida – 201307, India
For Enquiry, Call: +91-93100-12345
At present the Supertech builder facing corruption and unfair trade practice charges in Indian courts. Supertech builder has an extremely poor record to complete their real estate projects in the set time frame.
Price | Lease Price
Supertech SuperNova “Astralis” office spaces & “Spira” studio apartments are available in original bookings, the resale price at approx:-
|UNIT TYPE||SIZE (SqFt)||PRICE (PSF)|
|Astralis Office Space||starts from 300||14,000|
|Spira Studio Apartments||560||12,000-14,000|
|Spira Ones||9008||15.76/- Cr|
|Spira Residency 2BHK||1776||2,93/- Cr|
Price is already on the very higher side and there is hardly any chance of early growth.
The price of Supertech Supernova office space and the studio apartments/serviced apartments is very high, can say that this is the highest price for any under-construction commercial property in Noida, Greater Noida, and Ghaziabad area and there is not very much scope to grow more in the near future after possession.
Actually, the Supertech builder making fool to investors by creating hype. Supertech builder is filling his pockets, he is not concerned about the interests of investors.
NOTE: BEFORE INVESTING, DO YOUR OWN RESEARCH