Noida-based Nimbus Projects Limited has announced a revival plan for the long-stalled Sunworld Arista housing project in Sector 168, aiming to deliver the remaining apartments within three years. The move is set to bring relief to 400 homebuyers who have been waiting for years due to the previous developer’s financial defaults and delays.
The project, built over 10 acres and launched in 2010-11, was initially scheduled for delivery in 2014. However, Sunworld Residency Pvt Ltd, which took over from the original promoter, Boulevard Infrastructure Pvt Ltd, failed to complete construction and defaulted on dues to both the Noida Authority and lending banks. This stalled progress and prevented buyers from completing the registration of their homes.
Under the Uttar Pradesh government’s co-developer policy for stalled projects, Nimbus has taken over as co-developer with a commitment to clear all pending obligations. The company has pledged to pay ₹170 crore in dues owed by the previous developer to the Noida Authority.
Director Bipin Agarwal confirmed that ₹80 crore has already been deposited, with the balance to be cleared in the coming months. This payment will enable property registries for the 400 units where occupancy certificates were issued in 2019 but residents could not legally register ownership.
In addition to dues clearance, Nimbus is undertaking completion of essential infrastructure in the existing towers. This includes installing fire safety systems, making the sewage treatment plant operational, repairing and commissioning elevators, and finishing other shared facilities. The company has allocated ₹20–25 crore specifically for these works to ensure basic amenities are in place.
Lokesh M, CEO of the Noida Authority, said that a co-developer is allowed only if they demonstrate the financial capacity to settle pending land costs and complete the project.
The second phase, branded Arista Luxe, will be developed under the state’s Legacy Stalled Projects Policy. This premium residential segment will consist of 342 apartments across towers 5, 7, 8, and 9, supported by a modern clubhouse and landscaped open spaces.
With an estimated investment of ₹1,100 crore, phase two will feature 11-foot floor-to-floor heights, double-height lobbies, large balconies, and home automation features. The development has received RERA registration and all statutory approvals, and is targeted for completion by 2029. Funding will be secured from institutional lenders.
The Uttar Pradesh government introduced the co-developer model to unlock stuck real estate assets and protect homebuyer interests. Nimbus was formally approved as co-developer in September 2024, with the decision ratified by the Noida Authority board in October. The approval required financial due diligence and assurance that the new developer could meet both outstanding dues and construction costs.
For residents who have endured years of uncertainty, the revival marks a turning point. The completion of infrastructure and clearance of dues will allow them to register properties and gain full legal ownership. The authority and developer expect this case to serve as a precedent for other stalled projects in the National Capital Region.
Sanjiv Kumar, a resident of the project, said that the move to appoint Nimbus as co-developer will help secure long-promised amenities and finally enable registry of homes.
By addressing financial bottlenecks and prioritising delivery timelines, the Nimbus initiative aligns with state policy objectives to revive large-scale stalled projects. If executed as planned, it could restore homebuyer confidence and contribute to resolving the wider issue of delayed housing delivery in NCR.
