Supertech buyers fear Apex takeover will ruin their future

New Delhi: As the Supreme Court gears up for the crucial hearing on November 4, anxiety grips more than 26,000 homebuyers stuck in Supertech’s long-stalled housing projects. 

For these buyers, the wait for justice and possession of their long-promised homes has stretched over 15 years, marked by broken commitments, financial distress, and emotional turmoil.

Their fears have intensified after Apex Heights Limited, a private developer, filed an appeal in the Supreme Court challenging the NCLAT order dated December 12, 2024, which had entrusted the completion of 16 stalled Supertech projects to NBCC (India) Limited. That NCLAT decision had rekindled hope among thousands of buyers who had almost given up on ever receiving their homes. 

NBCC’s proven track record in completing abandoned and financially complex projects had restored a glimmer of faith.

However, with Apex Heights now seeking to overturn that order, uncertainty looms again. The homebuyers fear that if the Supreme Court allows Apex to take charge of these projects, it would be a “dead end” for them. 

Their apprehensions are not unfounded. Apex Heights, they argue, is backed by Supertech itself, the company that defaulted, duped, and abandoned them. Many suspect that Apex is a proxy through which Supertech hopes to retain control over the projects.

Adding to their concern are Apex’s financial credentials. The company, in its proposal submitted to the Supreme Court, has reportedly promised to raise Rs 500 crore upfront through the sale of unsold units in some of its projects, but buyers are skeptical about the feasibility of this claim.

 “What if those units don’t sell? What if the promised funds never materialize?” ask anxious homebuyers, who have already endured years of deceit and litigation. They see no guarantee that Apex can handle a construction task worth over Rs 10,000 crore.

The homebuyers’ frustration is compounded by delays in the legal process. The NCLAT took over two years to decide in favour of NBCC. 

Now, with the matter pending in the Supreme Court for 11 months, they are unsure whether the hearing on November 4 will bring a final resolution or another adjournment. 

Many buyers have exhausted their savings, are paying both rent and EMIs, and continue to face mental and financial strain.

While some banks and land authorities are reportedly supporting Apex Heights’ proposal, hoping to recover their dues, the homebuyers feel sidelined. “What about us? Who will give us our homes after 15 years of struggle?” they ask.

Amid this tension and uncertainty, the buyers are pinning their hopes on Honourable Justice Suryakant hearing the matter, who is expected to take over as Chief Justice of India on November 23, 2025. 

They believe that under his leadership, the court will prioritise justice and uphold the NCLAT order, paving the way for NBCC to resume construction at the earliest.

As the hearing approaches, the homebuyers say their patience has worn thin. They plead that the Supreme Court does not hand over their fate to another private developer closely linked to Supertech, making “hollow promises.” 

For them, NBCC represents the only credible path to recovery and closure. The November 4 verdict may decide whether these 26,000 families finally find relief or are pushed again into a bottomless pit of despair.