India, Dec. 3 -- The Greater Noida authority has given in-principle approval to appoint co-developers for two long-stalled group housing projects in Sector 10 and Sector 1 under UP government's policy for legacy stalled real estate projects.

With these approvals, nine stuck projects in the city have now been allowed to induct co-developers to revive construction.

Under the 2023 policy, the Authority offered interest waivers to stalled housing projects if the developer opted to pay 25% of total dues, and 75% be paid in three years.

"The policy has been able to revive several stuck projects and provide a ray of hope for stuck homebuyers. The reputed realty firms like Birla Estate, Sobha and others have entered into Greater Noida to reviv...