Hawelia Group Secures Approval to Revive Stalled Housing Project in Greater Noida
Hawelia Group gets nod to complete stalled housing project in Greater Noida
Business Standard
Image: Business Standard
Hawelia Group will invest ₹770 crore (approximately $93 million USD) to complete the stalled 'Shri Radha Sky Gardens' housing project in Greater Noida, benefiting over 2,000 homebuyers. The project, which spans 22 acres, is expected to be completed within 42 to 48 months following approval from the Uttar Pradesh Real Estate Regulatory Authority.
- 01Hawelia Group will invest ₹770 crore to revive a stalled housing project.
- 02The project will benefit over 2,000 homebuyers who have been waiting for years.
- 03Completion timeline is set for 42 to 48 months.
- 04The project received approval from the Uttar Pradesh Real Estate Regulatory Authority.
- 05This is the first investment by the American Pension Fund in a legacy stalled project in India.
Advertisement
In-Article Ad
Hawelia Group has received approval from the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) to invest ₹770 crore (approximately $93 million USD) in completing the stalled 'Shri Radha Sky Gardens' housing project in Greater Noida, Uttar Pradesh, India. This 22-acre project aims to deliver 2,064 residential units to over 2,000 homebuyers who have faced delays for several years. The project is expected to take 42 to 48 months to complete. Nikhil Hawelia, Managing Director of Hawelia Group, emphasized the company's commitment to ethical practices and timely delivery, aiming to restore hope for families awaiting their homes. The project has also garnered funding from the American Pension Fund (Washington State Investment Board), marking its first investment in a legacy stalled project in India. The Greater Noida Industrial Development Authority approved the project during its 133rd board meeting, paving the way for reconstruction and revival.
Advertisement
In-Article Ad
The revival of this housing project will provide much-needed homes to over 2,000 families in Greater Noida, alleviating years of uncertainty for homebuyers.
Advertisement
In-Article Ad
Reader Poll
Do you believe the revival of stalled housing projects is essential for the real estate market?
Connecting to poll...
More about Hawelia Group
Read the original article
Visit the source for the complete story.

