The Greater Noida Authority has greenlit Birla Estates and Floral Homes as co-developers for stalled projects in Sectors 10 and 1, bringing the total to nine under UP's rehabilitation policy. This step offers long-awaited relief to homebuyers stuck in limbo, backed by funds like SWAMIH's Rs 300 crore commitment, promising faster construction revival and possession.
Noida Authority’s co-developer policy enables financially stable builders to take over stalled projects by resolving legal disputes and paying 25% dues upfront, promising faster delivery and risk reduction for homebuyers while aiding authorities and banks in debt recovery.
RERA intensifies recovery against Greater Noida developers with pending dues, issuing strict notices and penalties. Over ₹46 crore recovered in August 2024, targeting homebuyer protection and project completion with inter-district coordinated legal actions.