In a significant step towards resolving the long-standing delays in Supertech Limited’s housing projects, the Noida Authority has approved a co-developer proposal that aims to infuse new life into stalled developments. Real estate firm Apex has come forward as a co-developer to fund and complete these long-pending projects, offering a ray of hope to thousands of homebuyers.
The move is expected to accelerate construction in multiple sectors across Noida, Greater Noida, and the Yamuna Expressway region. With the Supreme Court’s hearing scheduled for August 13, 2025, the development comes at a crucial juncture for distressed homebuyers.
🔹Key Highlights of the Approval
✅ Projects and Cities Covered
The co-developer proposal covers multiple Supertech Limited projects across:
- Noida (e.g., Capetown, Romano, Ecocity)
- Greater Noida
- Yamuna City
✅ Key Players Involved
- Developer in Focus: Supertech Limited
- Co-Developer: Apex Group
- Authority: Noida Authority
- Supreme Court: Final approval pending (hearing on August 13, 2025)
✅ Financial Details
- Apex to begin with an initial infusion of ₹500 crore
- Additional funds to be mobilized as required
- 25% of total authority dues to be paid upfront by the co-developer
🔹Noida Authority’s Green Signal: What It Means
Noida Authority CEO Lokesh M confirmed the approval, stating:
“If the co-developer will pay 25% of total dues, we will allow them to work. Our aim is that the Noida authority gets its land cost dues and the homebuyers get their flats.”
This approval allows Apex to proceed with construction and fulfill Supertech’s pending commitments to homebuyers. It also aligns with the Supreme Court’s directive for local authority and stakeholder clearance before moving forward.
🔹Apex’s Commitment: Delivering Hope with Funds
Apex Director Satnam Singh assured homebuyers of the company’s financial readiness:
“We will infuse ₹500 crore to begin the construction and then we are capable to provide the required funds to finish and deliver the projects… benefiting the buyers.”
This move is seen as a potential game-changer in the NCR real estate sector, which has long struggled with stalled housing projects and anxious homebuyers.
🔹Projects to Be Revived
The following projects are part of the approved proposal in Noida:
- Supertech Capetown, Sector 74
- Supertech Romano, Sector 118
- Supertech Ecocity, Sector 137
Greater Noida Authority and YEIDA are also expected to approve similar proposals in their upcoming board meetings later this month.
🔹Mixed Reactions from Homebuyers
While many buyers welcomed the authority’s nod and Apex’s entry, others remain cautious.
Madhvi Singh, a Capetown buyer, said:
“We have been waiting for our flat completion for the last many years. We demand that whatever the decision happens, it should happen without further delay and cost escalation.”
Meanwhile, some buyers continue to demand government intervention via NBCC:
Amita Singh, a Romano buyer, commented:
“We do not trust Supertech or any other small developer… We want the NBCC to take over the projects.”
🔹Quick Facts Table
| Feature | Details |
|---|---|
| Developer | Supertech Limited |
| Co-Developer | Apex Group |
| Approved By | Noida Authority Board |
| Initial Fund Infusion | ₹500 crore |
| Key Projects | Capetown, Romano, Ecocity (Noida) |
| Cities Covered | Noida, Greater Noida, Yamuna City |
| Supreme Court Hearing | August 13, 2025 |
| Authority Requirement | 25% of total dues to be paid upfront |
🔹FAQs
1. What is the purpose of the co-developer proposal?
To allow a financially capable firm (Apex) to take over stalled Supertech projects, complete construction, and deliver flats to homebuyers.
2. Which Supertech projects are included in the proposal?
Projects such as Supertech Capetown (Sector 74), Romano (Sector 118), and Ecocity (Sector 137) in Noida are part of the approved list.
3. What is the financial commitment made by Apex?
Apex has committed an initial ₹500 crore and is prepared to infuse more as needed to complete the projects.
4. What are the conditions set by the Noida Authority?
The co-developer must pay 25% of the total dues to the Noida Authority to begin work.
5. When will the Supreme Court decide on the proposal?
The Supreme Court is scheduled to hear the matter on August 13, 2025.