The Noida Authority has taken a significant leap towards urban renewal and luxury hospitality development by approving the redevelopment of old, dilapidated housing projects and giving conceptual approval for constructing five and seven-star hotels through public-private partnerships (PPP). These strategic moves aim to enhance living standards for residents and boost the city’s infrastructure and tourism appeal.
Revamping Old High-Rises for Modern Living
In its 218th board meeting held recently, the Noida Authority decided to redevelop old group housing towers in sectors 27, 93, and 93A. These buildings, built years ago by the Noida Authority and private developers, have aged and now require modernization to meet current infrastructure standards and residents’ expectations.
Key details of the redevelopment plan include:
- Cooperative and private developers will be permitted to increase the Floor Area Ratio (FAR) from the existing 2 to 3.5, enabling vertical expansion and more housing units.
- Developers can purchase additional FAR to further enhance the project’s scale.
- The Authority plans to release a detailed roadmap to guide the redevelopment process soon.
Lokesh M, CEO of Noida Authority, stated,
“The board has given in-principle approval to the redevelopment of old, dilapidated high-rises so that users of these projects can avail themselves of better basic facilities and get modern infrastructure inside their buildings.”
Addressing Stalled Housing Projects with Co-Developers
The Authority also approved involving co-developers to revive three stalled housing projects, offering a practical solution to completion delays that have long impacted buyers. These projects include:
- IVRCL Private Limited in Sector 118
- Supertech Capetown in Sector 74
- Supertech Ecocity in Sector 137
Additionally, the Cloud Nine project in Sector 100 received a waiver of interest on land dues due to the promoter’s inability to utilize previous offers.
The Authority mandates that co-developers must pay 25% of total dues upfront to initiate project takeover. Lokesh M added,
“The board has made it very clear that if a co-developer wants to take over a stalled housing project like these three, then he/she will have to pay 25% of the total dues to initiate the takeover process.”
Conceptual Approval for Five and Seven-Star Hotels on PPP Model
To enhance Noida’s hospitality sector and attract premium tourism, the Authority has approved the concept of developing five and seven-star hotels on a public-private partnership (PPP) basis. With seven prime plots identified for these luxury hotels, this model will allow the Authority to provide land while private companies invest and operate the hotels.
A Request for Proposal (RFP) will be drafted detailing the PPP structure, including government and company stakes, bidding processes, and operational frameworks. This move addresses the challenge of unsold hotel plots by incentivizing private investment through partnership.
Quick Facts and Highlights
| Aspect | Details |
|---|---|
| Redevelopment Sectors | 27, 93, 93A |
| Increased FAR Allowed | From 2 to 3.5 |
| Stalled Projects for Co-Developers | IVRCL Sector 118, Supertech Capetown Sector 74, Supertech Ecocity Sector 137 |
| Interest Waiver Project | Cloud Nine, Sector 100 |
| Luxury Hotel Model | Public-Private Partnership (PPP) |
| Number of Hotel Plots | At least 7 |
FAQs
Q1: What sectors are targeted for redevelopment in Noida?
A: The redevelopment will focus on sectors 27, 93, and 93A, where old, dilapidated high-rise housing projects exist.
Q2: What is the new Floor Area Ratio (FAR) permitted for redevelopment projects?
A: The FAR has been increased from 2 to 3.5, with an option to buy additional FAR for vertical expansion.
Q3: Which stalled projects will involve co-developers for completion?
A: IVRCL Private Limited (Sector 118), Supertech Capetown (Sector 74), and Supertech Ecocity (Sector 137).
Q4: What condition must co-developers meet to take over stalled projects?
A: They must pay 25% of the total dues upfront to initiate the takeover process.
Q5: How will the five and seven-star hotels be developed?
A: Through a public-private partnership model, where the Authority provides land and private companies invest in hotel construction and operations.