In a breakthrough for thousands of stuck homebuyers, the Noida Authority has officially approved the proposal to bring a co-developer on board for Supertech Limited’s incomplete housing projects. The move is aimed at reviving construction and speeding up flat possession for buyers.

The real estate firm Apex Group has stepped forward to finance and complete the delayed projects not just in Noida, but also across Greater Noida, Yamuna City, and other affected locations. Apex has committed to injecting an initial ₹500 crore to restart work and clear pending authority dues.

“Apex is fully prepared to fund, build, and hand over the stalled units. We aim to fulfill the original promises made to homebuyers,” said Satnam Singh, Director at Apex. He also assured that the company would cover all authority dues.

Lokesh M, CEO of Noida Authority, confirmed the board’s approval, stating that the co-developer will be allowed to proceed once 25% of the outstanding dues are paid. “Our goal is to recover dues and ensure timely delivery of flats to buyers,” he added.

This decision comes after the Supreme Court’s direction to secure approvals from key authorities and stakeholders, including banks and local development agencies. According to Supertech Chairman R.K. Arora, financial institutions have already given the green light, and the Apex proposal will be presented before the Supreme Court on August 13, 2025, for final approval.

Projects like Supertech Capetown (Sector 74), Romano (Sector 118), and Ecocity (Sector 137) have been included in this phase of revival. Meanwhile, the Greater Noida Authority and YEIDA are expected to review similar co-developer plans in their upcoming board meetings.

While many homebuyers have welcomed the development and are hopeful for quick deliveries, some have voiced concerns. “We just want our flats — no more delays or added costs,” said Madhvi Singh, a buyer at Cape Town.

However, others remain skeptical of private players and are urging the government to bring in NBCC, a public sector construction agency, to ensure reliability and transparency.