In a significant move that could reshape the National Capital Region’s (NCR) real estate landscape, the Noida Authority has announced a new co-developer policy aimed at reviving long-stalled housing projects. This initiative comes as a much-needed relief for thousands of homebuyers who have been waiting for possession of their flats for years.
According to a Hindustan Times report, under the new policy, builders will be allowed to restart halted projects if they manage to clear at least 25% of their outstanding dues to the authority. This step is expected to expedite the completion of numerous projects stuck in limbo across Noida.
A Strategic Push Toward Real Estate Stability
Experts believe this policy could prove to be a major turning point for NCR’s troubled real estate sector. By providing an alternative to lengthy court battles through NCLT or the Supreme Court, the co-developer model offers a more pragmatic and time-bound resolution for affected homebuyers.
The policy is designed to allow reputed developers with strong financial backing and a history of timely project delivery to take over unfinished projects. This, in turn, would accelerate construction timelines and bring buyers one step closer to getting their long-awaited homes.
First Approvals Already Rolling Out
In a strong show of intent, the Noida Authority board has already given the green light to a co-developer proposal involving Supertech Limited. The firm had several stalled residential projects, and now Apex, a realty company, has stepped in to fund and complete them.
This move comes after multiple applications for similar partnerships were reviewed by the authority. The aim is clear: to revive stuck investments, clear land dues, and finally deliver homes to their rightful owners.
In fact, in October 2024, the board had approved two other co-developers—Sunworld Residency Pvt. Ltd. for Sector 168 and Ambience Pvt. Ltd. for Sector 115—marking the beginning of this policy’s real-world implementation.
What Is the Co-Developer Policy?
The newly launched co-developer policy targets incomplete residential projects that have been delayed due to financial stress, technical shortcomings, or the original developer’s loss of credibility in the market.
Here’s how it works: The co-developer, who must have a solid financial and technical background, conducts due diligence to assess the viability of the unfinished project. If approved, they collaborate with the original developer and assume joint responsibility for its completion.
The central incentive? Once the co-developer clears 25% of the outstanding land dues, the project gets formal approval to resume. The remaining dues can be paid in scheduled installments.
A Win-Win for Buyers and the Authority
Speaking to the media, the Noida Authority’s CEO emphasized the dual objectives behind this initiative—ensuring the recovery of pending land costs and fast-tracking home delivery for buyers. “Our primary goal is to recover dues and provide long-overdue possession to citizens,” he stated.
For thousands of families caught in the endless wait for their dream homes, this policy could be a breakthrough. If implemented effectively, it could rejuvenate investor confidence, reduce litigation, and bring long-stalled development back to life.
Looking Ahead
As the Noida Authority begins rolling out approvals and co-developers step in with renewed energy and investment, the city’s skyline may soon see a flurry of construction activity. More importantly, it’s the hope rekindled among countless homebuyers that makes this policy a potential game-changer for the NCR real estate ecosystem.