On June 22, 2025, the Noida Authority approved a redevelopment scheme inspired by Mumbai’s successful urban renewal model. It aims to dismantle outdated EWS (Economically Weaker Section) housing and construct modern, larger homes in their place—freeing up prime land and energizing the local real estate market
As part of the new policy, selected dilapidated EWS buildings—initially built with an FAR (Floor Area Ratio) of 1.5—will be demolished. Under revised regulations allowing FAR of up to 3.5, developers will receive permission to sell additional units. In exchange, they must build upgraded flats for existing residents and provide them alternate accommodation until the new buildings are ready .
A Noida Authority official noted that 4–5 such buildings have been identified so far, with separate RFPs planned for each structure
Industry Reaction:
- Nikhil Hawelia, MD of Hawelia Group and CREDAI Western UP Secretary, said the move opens new central locations for development but underscored the need for commercial viability given shifting buyer preferences
- Yash Miglani, MD of Migsun Group, welcomed the policy, observing that granting higher FAR and involving co-developers can help unlock stalled projects in sectors like 27, 93, and 93A, fulfilling many homeowners’ aspirations
Addressing Project Bottlenecks:
The Authority has also approved co-developer involvement for five stalled housing projects, impacting over 5,000 homebuyers eagerly awaiting possession
Key Context:
- CREDAI reports around 190,000 units across Noida, Greater Noida, and Ghaziabad are stalled, worth nearly ₹1 lakh crore.
- In Greater Noida alone, 36 projects are undergoing insolvency proceedings.
- Approximately ₹40,000 crore remains due to Noida, Greater Noida, and Yamuna Expressway authorities for partially developed plots—covering principal, interest, and penalties
Summing Up:
This forward-looking initiative is expected to spark urban revitalization in central Noida—upgrading outdated housing, expanding vertical development through increased FAR, and resolving long-pending projects. Industry leaders believe it’s a significant move toward meeting evolving preferences while accelerating economic growth and enhancing homeownership
