Mumbai-based listed real estate developer Birla Estates has entered the Noida–Greater Noida market for the first time through a co-development partnership with Sikka Group for a Rs 1,600-crore group housing project in Greater Noida.
Birla Estates is the real estate arm of the Aditya Birla Group, with residential and commercial developments across major Indian cities.
The project, to be built on a 5-acre land parcel owned by Sikka Group in sector 10 Greater Noida, marks Birla Estates’ debut in the region.
As part of the arrangement, Birla Estates will invest about Rs 500 crore and join the project as co-developer, people familiar with the development said. They said that the Greater Noida Industrial Development Authority (GNIDA) has recently granted an approval in this connection under its co-developers' policy to revive stuck real estate projects.
The move adds financial strength and execution capability to the legacy land parcel and a big step towards reviving the stalled residential development in the area.
The co-developers' policy—introduced to resolve long-pending residential developments—offers interest waivers and staggered payment options for developers who bring in financially sound partners to complete construction and clear outstanding dues.
“Greater Noida remains a market with long-term residential potential. Birla Estates brings credibility, financial depth and execution capability. With them on board, we are confident of moving this project forward in line with the timelines and standards expected by both homebuyers and the Authority,” said Harvinder Singh Sikka, Managing Director, Sikka Group.
There was no immediate response available from Aditya Birla Estates. The copy will be updated after receiving a response.
The upcoming project will be launched as a group housing scheme, though details on apartment configurations, pricing and rollout timelines will be announced closer to launch. Once completed, the project is estimated to have a gross development value of nearly Rs 1,600 crore, according to people familiar with the development.
The collaboration also reflects a broader trend in Greater Noida, where several stuck residential projects are being revived through co-development structures backed by institutional capital, including mechanisms such as the SWAMIH Fund, which has played a crucial role in resolving legacy real estate stress across NCR.
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