Noida Unveils New Redevelopment Policy Inspired by Mumbai Model
Noida Authority has approved a new redevelopment policy, inspired by Mumbai, to revitalize prime areas by demolishing old EWS flats and constructing new ones. This move, along with allowing co-developers in stalled projects, aims to boost the real estate sector and benefit homebuyers.
Noida Redevelopment PolicyReal EstateNoida AuthorityMumbai ModelCodevelopersReal Estate MumbaiJun 21, 2025
As per the policy, old flats allotted to the economically weaker section (EWS) of people will be demolished and new flats will be built in their place. Developers will be allowed to generate revenues by selling these new housing units in addition to constructing bigger flats for the original allottees.
“We have identified 4-5 buildings, which are in a dilapidated state. When these buildings were constructed, FAR of 1.5 was allowed and now FAR of 3.5 is permissible. We will invite RFP (request for proposal) for every structure separately,” said a Noida Authority official.
While the policy is a much-needed step towards opening of prime land bank in the city centre, every project will come up with its own challenges. The project has to be commercially viable because buyer’s preference has changed in recent times, said Nikhil Hawelia, MD, Hawelia Group and secretary of industry body CREDAI (western UP).
“The Noida Authority’s decision can fulfill the dream of owning a home in the city’s thriving sectors like 27, 93, and 93A,” said Yash Miglani, MD, Migsun Group. “Allotment of higher FAR and engaging co-developers in stable projects will address the long-pending demand of stuck homebuyers and unlock immense potential for modern, vertical living spaces.”
The Noida Authority has recently approved the introduction of co-developers in five stalled projects, a step expected to benefit more than 5,000 customers waiting to get possession of their new homes. According to the Confederation of Real Estate Developers’ Associations of India (CREDAI), 190,000 units worth Rs 1 lakh crore are stuck in Noida, Greater Noida, and Ghaziabad. In Greater Noida alone, at least 36 real estate projects are undergoing insolvency proceedings.
It is estimated that Rs 40,000 crore is owed to the Noida, Greater Noida, and Yamuna Expressway authorities, including principal, interest, and penal charges for allotted plots where real estate projects are at various stages of execution.
“The (Noida Authority's) step marks a progressive step toward urban revitalization as it unlocks a significant real estate potential, especially in the heart of the city. The redevelopment of old, dilapidated buildings with higher FAR while improving the existing structure and providing better facilities will also generate more homeownership,” said Salil Kumar, director, marketing and business management, CRC Group.
Frequently Asked Questions
What is the new redevelopment policy approved by Noida Authority?
The new redevelopment policy allows for the demolition of old EWS flats and the construction of new, larger flats. Developers can sell the extra space to generate revenue, provided they build bigger apartments for the original allottees.
How does this policy benefit homebuyers?
This policy benefits homebuyers by providing them with modern, larger homes and addressing the long-pending demand of stuck homebuyers in stalled projects.
What is the current situation of real estate in Noida and surrounding areas?
There are 190,000 units worth Rs 1 lakh crore stuck in Noida, Greater Noida, and Ghaziabad. In Greater Noida alone, 36 real estate projects are undergoing insolvency proceedings. Rs 40,000 crore is owed to the Noida, Greater Noida, and Yamuna Expressway authorities.
How will the policy impact the real estate sector in Noida?
The policy is expected to boost the real estate sector by opening up prime land in the city center, making it more commercially viable and attracting more developers and investors.
What role do co-developers play in this new policy?
Co-developers are being introduced in five stalled projects to help complete them and benefit over 5,000 customers waiting to get possession of their new homes.
Related News Articles
Equinox India Developments Limited: The New Face of Indiabulls Real Estate
Listed real estate developer Indiabulls Real Estate Limited has undergone a transformation, changing its name to Equinox India Developments Limited with effect from June 20, 2024.
Ashiana Housing Expands to New Horizons: Mumbai, Delhi NCR, and Bengaluru on the Radar
Ashiana Housing is set to launch a senior living project in Chennai, with plans to expand to Mumbai, Delhi NCR, and Bengaluru amid the real estate boom.
CBRE Accelerates Growth with Elan Group's Facilities Management Deal
CBRE, a leading global real estate advisor, has taken over the facilities management of Elan Group's properties, emphasizing on sustainability initiatives and improving retail asset management.
Luxury Property Boom in Mumbai: Ashley Nagpal's Record-Breaking Purchase
Mumbai's luxury real estate market is on the rise, with Ashley Nagpal's recent purchase of a INR 115.5 crore apartment in Oberoi 360 West. The city's residential sales have consistently grown over the past three years, with the luxury segment driving the
Union Budget 2025: Real Estate's Hopes and Demands
The Union Budget 2025 offers a significant chance to tackle longstanding issues and spur growth in the real estate sector, with key expectations including tax benefits, infrastructure improvements, and service reforms.
Tax Exemption Hike Expected to Boost Home Purchases in India
The Confederation of Real Estate Developers' Associations of India (Credai) believes that an increase in the tax exemption limit will significantly enhance housing affordability and market stability, making it easier for potential buyers to invest in home