Hawelia Group Revives Stalled Greater Noida Housing Project with Rs 770 Crore Investment

Hawelia Group, a leading real estate firm, has announced a significant investment of Rs 770 crore to revive a long-stalled housing project in Greater Noida. The project, known as ‘Shri Radha Sky Gardens,’ has been stuck for several years, leaving over 2,000 homebuyers in limbo. The company has received the necessary approval from the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) to proceed with the project's completion.

The decision to take over this stalled project is a testament to Hawelia Group's commitment to ethical practices and its resolve to bring hope and confidence back to the homebuyers. The Greater Noida Industrial Development Authority (GNIDA) has also played a crucial role in facilitating the project's revival. In its 133rd board meeting, GNIDA approved the project, and a Joint Development Agreement (JDA) was executed in July 2024, paving the way for the reconstruction and revival of the project.

Hawelia Group, based in Delhi-NCR, has a strong track record of developing high-quality real estate projects in the region. The company's Managing Director, Nikhil Hawelia, emphasized the importance of this initiative: “It reflects our commitment to ethical practices and our resolve to revive long-stalled projects, thereby instilling new hope and confidence in thousands of homebuyers. Our focus remains on quality execution and timely delivery, ensuring that 2,064 families finally receive the keys to their homes.”

The project is expected to be completed within 42 to 48 months, providing a much-needed resolution for the homebuyers who have been waiting for years to see their investments come to fruition. The investment for this project has been funded by the American Pension Fund, specifically the Washington State Investment Board, marking their first investment in India for a legacy stalled project.

The approval from UP-RERA came in its 198th board meeting, following the formal request by the Greater Noida Authority in February 2026. With all the required compliance in place as per the JDA, the project is now poised to move forward, bringing relief to the long-suffering homebuyers.

Hawelia Group's involvement in this project is not just a financial investment but a commitment to the community and the real estate sector. The successful completion of ‘Shri Radha Sky Gardens’ will not only benefit the 2,064 families directly but also set a positive precedent for the revival of other stalled projects in the region.

In conclusion, the revival of the ‘Shri Radha Sky Gardens’ project by Hawelia Group is a significant step towards addressing the challenges faced by homebuyers in the real estate sector. It underscores the importance of ethical practices and the role of regulatory bodies in ensuring the timely completion of projects, thereby restoring trust and confidence in the market.