India, June 25 -- Noida's new redevelopment policy marks a 'progressive shift' in urban renewal, drawing inspiration from Mumbai's model but adapting it to meet Noida's local requirements.Like Mumbai, it incentivizes developers by allowing a higher Floor Area Ratio (FAR) and the sale of additional units. At the same time, it ensures that existing residents benefit from upgraded, more spacious homes and are provided with temporary accommodation during reconstruction, say real estate experts.

However, the key distinction lies in its focus. Unlike Mumbai's broad, city-wide redevelopment framework, Noida's approach is more targeted and phased. It specifically prioritizes the redevelopment of Economically Weaker Section (EWS) units and leaseh...