Greater Noida Revival: Two More Stalled Projects Get a Lifeline!

The Greater Noida Authority has granted in-principle approval for appointing co-developers for two long-stalled group housing projects in Sector 10 and Sector 1. The decision aligns with the Uttar Pradesh government’s 2023 policy aimed at reviving legacy real estate projects. With these approvals, a total of nine stalled projects in Greater Noida will now have co-developers to help restart construction.

Under the policy, developers receive interest waivers on outstanding dues if they pay 25% upfront, with the remaining 75% payable over three years.
Birla Estates has been approved as the co-developer for the Nobal Buildtech project in Sector 10, while Floral Homes will co-develop the Gayatri Hospitality & Realcon project in Sector 1, which has also secured ₹300 crore in SWAMIH Fund support.

The move is expected to provide significant relief to homebuyers and boost confidence in the local real estate market.

News by Rahul Yelligetti.