Birla Estates Partners with Sikka Group for ₹1,600 Crore Greater Noida Housing Project Under UP Legacy Revival Policy

Birla Estates, the real estate division of Aditya Birla Group, has reportedly entered into a strategic joint venture with Delhi-NCR-based Sikka Group to co-develop a residential project spanning five acres in Greater Noida. According to industry sources, the development is expected to generate a gross development value (GDV) of approximately ₹1,600 crore, with Birla Estates committing an investment of around ₹500 crore.

The partnership has been structured under the legacy project revival policy formulated by the Amitabh Kant Committee and subsequently approved by the Uttar Pradesh government. This policy framework is designed to enable financially robust developers to step in and revive stalled or delayed housing projects across the region. Such initiatives are increasingly gaining momentum as Noida emerges as a premium real estate hub in Delhi-NCR.

Key Project Details

Policy Framework Driving Revival of Delayed Projects

The collaboration has emerged against the backdrop of Greater Noida Authority's renewed efforts to unlock legacy real estate through regulatory reforms and financial restructuring schemes. Industry experts have noted that this move aligns with broader trends where established corporate developers are entering distressed or legacy markets. Similar revival efforts have been witnessed in other parts of NCR, including Suraksha Group's ₹5,500 crore investment to revive Jaypee's stalled flats.

Benefits Under the Legacy Revival Policy

• Interest waivers on outstanding dues
• Staggered payment plans for pending liabilities
• Incentives for credible co-developers to complete stuck projects
• Regulatory support for faster project clearances

A source familiar with the deal reportedly stated that the policy enables credible developers to step in and transform incomplete projects, ultimately benefiting both homebuyers and the broader real estate ecosystem. Prospective buyers in the region should familiarise themselves with stamp duty requirements in Noida and Greater Noida before making investment decisions.

Birla Estates Strengthens Delhi-NCR Footprint

This joint venture marks Birla Estates' continued expansion in the Delhi-NCR market, leveraging its brand reputation and execution capabilities to unlock high-potential underutilised assets in key urban locations. The Aditya Birla Group's real estate arm has been actively expanding its portfolio, with reports indicating that Aditya Birla Real Estate plans Rs 14,000 crore worth of launches in FY26.

The move is consistent with the broader industry trend of corporate developers entering distressed or legacy markets, where policy support combined with sustained market demand creates viable turnaround opportunities. The Delhi-NCR luxury housing market has been soaring, attracting both domestic and international investors.

Outlook for Greater Noida Real Estate Sector

With over 100 legacy projects reportedly stalled in Greater Noida and adjacent regions, the success of such co-development models could potentially pave the way for faster inventory turnaround, improved buyer sentiment, and significant liquidity infusion into NCR's real estate sector. The Greater Noida Industrial Development Authority (GNIDA) has been actively working towards streamlining processes for such revival initiatives.

Homebuyers looking to invest in this region should understand their possession and buyer rights under RERA to safeguard their investments. For those exploring residential options, the market offers several ready-to-move flats in Noida and Greater Noida across various budget segments.

Industry analysts suggest that the partnership between Birla Estates and Sikka Group could serve as a model for reviving other stalled projects in the region, potentially restoring confidence among homebuyers who have been awaiting possession for years.

Disclaimer: This news article is for informational purposes only and does not constitute investment advice. Readers are advised to conduct their own due diligence and consult with qualified professionals before making any real estate investment decisions. Property investments are subject to market risks, and past performance is not indicative of future results. The information presented here is based on publicly available sources and should be independently verified.