In a significant step toward reshaping its urban landscape, the Noida Authority has approved a transformative redevelopment policy inspired by the successful Mumbai model. Targeted at reviving dilapidated buildings and unlocking high-value urban land, the initiative aims to rejuvenate prime areas, attract new real estate investment, and offer modern housing solutions to both existing allottees and new buyers.
The plan focuses on the demolition and reconstruction of old housing units—primarily those allotted to the Economically Weaker Sections (EWS)—and allows developers to profit through higher Floor Area Ratio (FAR) allowances, thereby creating a win-win scenario for stakeholders across the board.
🏗️ Key Features of the Redevelopment Policy
🔹 Demolition & Rebuilding of EWS Housing
Old, dilapidated structures originally built under EWS schemes will be demolished. In their place, developers will construct:
- Larger, better-equipped homes for original allottees
- New units to be sold on the open market
🔹 Increased FAR Utilization
- Earlier permitted FAR: 1.5
- Now permitted FAR: 3.5
- Developers can monetize the additional space created by building vertically
🔹 Phased Rollout
- 4–5 buildings already identified in a fragile state
- Separate RFPs (Request for Proposal) to be floated for each project
🔹 Developer Obligations
- Provide temporary accommodation during redevelopment
- Deliver upgraded homes post-completion
- Ensure timely handover and project viability
📊 Quick Highlights Table
| Feature | Details |
|---|---|
| Policy Model | Inspired by Mumbai Redevelopment Model |
| Target Units | EWS Flats (Economically Weaker Section) |
| FAR Revision | Increased from 1.5 to 3.5 |
| Areas of Focus | Sectors 27, 93, and 93A |
| Identified Projects (Phase 1) | 4–5 Dilapidated Buildings |
| Developer Revenue Model | Sale of extra area units |
| Support During Transition | Temporary stay arranged for existing allottees |
| Estimated Stuck Units (CREDAI) | 1.9 lakh units worth ₹1 lakh crore in Noida, GN, Ghaziabad |
| Pending Dues (Estimation) | ₹40,000 crore across three regional authorities |
🗣️ What Industry Experts Are Saying
“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.”
— Noida Authority Official
“The Noida Authority’s decision can fulfil the dream of owning a home in the city’s thriving sectors like 27, 93, and 93A.”
— Yash Miglani, MD, Migsun Group
“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.”
— Nikhil Hawelia, MD, Hawelia Group and Secretary, CREDAI (Western UP)
“This marks a progressive step toward urban revitalisation… providing better facilities and more homeownership.”
— Salil Kumar, Director, Marketing & Business Management, CRC Group
❓ Frequently Asked Questions (FAQ)
1. What is the main goal of Noida’s redevelopment policy?
The policy aims to revamp old EWS housing in prime city locations by demolishing unsafe buildings and replacing them with larger, modern homes—while unlocking additional real estate for sale using higher FAR.
2. How does the policy benefit original flat owners?
Original allottees will receive bigger and upgraded apartments at no additional cost and will be provided temporary housing during the redevelopment process.
3. How will developers benefit from this policy?
Developers will be allowed to construct and sell the additional floor space permitted under the revised FAR of 3.5, making projects financially attractive.
4. Which sectors in Noida are targeted under this policy?
Key sectors like 27, 93, and 93A are among the central urban zones identified for potential redevelopment.
5. How will this policy affect stuck projects in the region?
By incentivizing new development models and offering viable solutions for insolvent or stalled projects, this policy could help revive the market and fulfill the demand of homebuyers.