Nimbus Gets UP-RERA Nod To Revive Sunworld Arista Phase-II With ₹1,000 Crore Investment

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Nimbus Projects Ltd has received formal approval from UPRERA and the Noida Authority to codevelop PhaseII of the longstalled Sunworld Arista housing project in Sector 168, Noida. The move marks a major breakthrough for homebuyers awaiting possession for years and signals renewed momentum under Uttar Pradesh’s codevelopment policy.

Key Developments And Strategic Scope

Nimbus will invest nearly ₹1,000 crore, including dues to authorities and lenders, to complete Towers 5, 7, 8, and 9 along with the clubhouse, covering 12,161.97 sq m of undeveloped area.
The company gains development and sales rights for approximately one million sq ft of saleable area, with projected revenue of ₹1,400 crore.
Promoter contribution will be up to ₹200 crore, supplemented by ₹200 crore in construction finance and balance funding from unit sales.

Policy Context And Buyer Relief

The project is the second to be revived under the UP government’s stalled project rehabilitation framework, following Shree Radha Sky Garden.
Nimbus will settle RERA cases and ensure timely delivery of common areas and amenities for existing buyers.
Sunworld Residency Pvt Ltd, the original developer, retains land access rights but is absolved of liability for PhaseII execution.

Investor And Market Impact

The approval reinforces Noida Authority’s strategy to unlock ₹1 lakh crore worth of stuck housing inventory across NCR.
It also sets a precedent for thirdparty interventions in resolving insolvencyhit real estate ventures.

Sources: Economic Times, Times of India, Projects Today, NimbusProjectsLtd.com.