Greater Noida’s real estate market received a strong boost as the Greater Noida Authority officially approved the revival of two stalled group housing projects through the co-developer model, under the Uttar Pradesh Government’s Rehabilitation Policy. This decision marks a significant milestone for thousands of distressed homebuyers who have been waiting for possession for years.
A Big Step Toward Reviving Stalled Projects
During the recent board meeting, the Authority granted in-principle approval to:
- Birla Estates as the co-developer for the stalled Nobal Buildtech housing project in Sector 10
- Floral Homes as the co-developer for the Sector 1 housing project by Gayatri Hospitality & Realcon
Additionally, the project backed by ₹300 crore SWAMIH Investment Fund further strengthens the prospects of timely completion and delivery.
Why This Approval Matters
The stalled projects will now move toward completion while meeting financial and compliance requirements under the UP rehabilitation policy:
- Both allottees and co-developers must pay 25% of recalculated dues within one month
- RERA compliance and UP Apartment Act provisions will be closely monitored
- Homebuyers will gain renewed confidence as construction recommences under well-defined regulations
The approval of Birla Estates carries major significance, as the project involved around ₹120 crore in pending dues, and its entry as a co-developer gives the project a credible financial and operational backbone. Similar confidence is expected in the Floral Homes–Gayatri Hospitality & Realcon project under the SWAMIH Fund.
A Win-Win for the Real Estate Ecosystem
This move is expected to:
- Re-energize stalled housing projects across Greater Noida
- Improve liquidity and financial viability for developers
- Reinstate homebuyer trust in delayed projects
- Support a stronger regulatory mechanism ensuring timely delivery
Officials also highlighted that the arrival of co-developers such as Birla Estates not only accelerates construction but also strengthens financial due diligence through independent audits and compliance assessments.
What It Means for the Future of Greater Noida Real Estate
With nine stalled projects already revived under the co-developer model and more requests underway, this initiative is likely to become a game-changer for recovery of delayed housing projects across the region. The market will benefit from:
- Greater investment inflows
- Improved delivery quality and timelines
- Reduced litigation and buyer agony
The Greater Noida Authority’s approval to revive stalled housing projects through reputed co-developers is a landmark decision that sets a positive direction for the region’s real estate ecosystem. As more developers join this model, homebuyers, investors, and the overall market will regain the momentum it deserves.
