Hawelia Group's Bold $770M Revival of Stalled Noida Project

Hawelia Group, a realty firm based in Delhi-NCR, announced its decision to invest ₹770 crore to revive the stalled Shri Radha Sky Gardens project in Greater Noida. This development, which has received approval from the Uttar Pradesh Real Estate Regulatory Authority (UP RERA), is set to benefit more than 2,000 homebuyers whose investments have remained stagnant for years.

The American Pension Fund, managed by the Washington State Investment Board, is backing the project financially. This marks their inaugural investment in a legacy stalled project within India. The project completion is projected within 42 to 48 months, providing significant relief to homebuyers.

Nikhil Hawelia, Managing Director of Hawelia Group, emphasized the company’s dedication to ethical practices and timely project delivery. A Joint Development Agreement was signed, clearing the path for UP RERA's recent approval. Hawelia Group has been responsible for numerous real estate projects in Delhi-NCR.