India, Dec. 3 -- Offering a glimmer of hope for the revival of long-delayed real estate projects, the Greater Noida Authority has granted in-principle approval to appoint co-developers for two stalled group housing projects in Sectors 10 and 1. The move, taken under the UP government's co-developer policy for legacy stuck projects, brings the total number of Greater Noida developments allowed to induct co-developers to nine, paving the way for construction to restart.

Under the 2023 UP rehabilitation policy, stalled housing projects can rope in financially strong co-developers to jointly complete construction and clear dues. The Authority also offered interest waivers to such projects if developers paid 25% of total dues upfront, with th...