In Greater Noida, the long – stalled housing project ‘Shri Radha Sky Park’, a very old development, is finally nearing completion. This project, which had been stalled for nearly 15 years, is now set to be revived. A development being hailed as a positive sign for the real estate sector of Greater Noida. UP RERA approved a co-developer, through which more than 2000 homebuyers got relief.
This project was originally launched in 2010. This construction gradually came to a halt. The initial development managed to complete work on 4 basements out of 8 towers, a situation that subsequently rendered it a prime example of the real estate delay sector of Greater Noida.
This project currently consists of a total of 264 flats. The target is to complete it within the next 42 to 48 months. The Hawelia Group expressed interest in December 2023, when plans were initiated through the UP initiative to revive the stalled real estate projects of Greater Noida. Subsequently, a joint development Agreement was signed in July 2024.
In April 2026, this project was extended by UP RERA, which enables the restart, or we can say recommencement of construction work. The Hawelia Group will invest ₹770 crore, which will help in the completion of this real estate development. The project will comprise a total of eight residential towers and will be developed across an area of 5.5 million sq meters. This project has become a significant component of the real estate market of Greater Noida.
Under RERA regulations, 70% of the funds received from buyers must be deposited into a separate account designated exclusively for use on that specific project. This measure serves to enhance both transparency within the real estate sector and buyers’ trust. Additionally, the registration period for the project has been extended to six years. Experts believe that the revival of such stalled real estate projects in Greater Noida will further propel the property market forward.
Overall, this development brings a strong sense of hope to those who have been waiting for a home of their own for several years. If everything proceeds according to plan, this project is set to be successfully completed within the next few years.
