Noida Authority has introduced a co-developer policy aimed at restarting stalled housing projects and easing stress for homebuyers. This plan offers a faster solution than going through long legal fights. The authority hopes this will bring relief to thousands of people waiting for their homes.
Experts believe the new policy could change the real estate scene in the NCR. It tackles two big issues: unfinished projects and buyers stuck in limbo. For many homeowners, it promises a quicker, more practical way to finish projects instead of legal battles in courts.
By inviting reliable developers focused on timely delivery, the policy could speed up construction. This means buyers could get their flats sooner, some waiting more than ten years.
The implementation of the co-developer plan is still in its early phase. A number of applications are being processed. However, only a few arrangements have official approval so far. The authority carefully reviews each proposal to ensure the new partners are financially sound and skilled, said Santhosh Kumar from ANAROCK Group.
Recently, the Noida Authority board approved a co-developer plan for Supertech Limited’s delayed housing projects. This step allows completion of projects that have been waiting for years. Apex, a real estate firm, has agreed to provide funds and complete the homes in Noida, Greater Noida, Yamuna City, and other locations.
Apex’s plan is now with the Supreme Court, which may review the case on August 13, 2025. Lokesh M, CEO of Noida Authority, said the board approved Supertech’s co-developer under their rules. He added, “If the developer pays 25% of the dues, we will approve. Our goal is for the land costs to be paid and for homebuyers to get their flats.”
Last October, the Noida Authority appointed two co-developers. They will restart work on two stalled projects—one in Sector 168 by Sunworld, and one in Sector 115 by Ambience. This was part of the co-developer plan announced in December 2023.
What is a co-developer policy? It is a way for the authority to bring in experienced builders to finish incomplete projects quickly. The plan aims to deliver homes faster and reduce delays for buyers.