The Noida Authority has granted conditional relief to Sikka Infrastructure for its stalled “Sikka Karnam Greens” group-housing project in Sector 143B, reopening a path to completion under Uttar Pradesh’s legacy stalled-project policy. The project, spread over about 36,851 sq m along the Noida–Greater Noida Expressway, has approval for 1,351 residential units; 749 flats have already been delivered and a partial occupancy certificate was issued in 2019 for three towers comprising 323 units. Benefits under the state policy were earlier withdrawn and a recovery certificate issued after the developer fell behind on revised dues of around ₹252 crore, having paid only a fraction of the ₹52 crore that was to be deposited upfront. Under the new decision, those benefits can be restored only if Sikka withdraws its pending revision petition before the state government and complies with financial conditions. As security, the company has pledged 111 unsold flats and shops valued at roughly ₹252 crore; 31 units have already been sealed and 80 more will be sealed to safeguard the Authority’s claim until dues are cleared. Once conditions are met, the Authority will reissue permission to mortgage in favour of the SWAMIH Investment Fund, a government-backed, SEBI-registered Category-II AIF that provides last-mile funding to stalled affordable and mid-income housing projects and has already enabled completion of tens of thousands of homes nationwide. Access to SWAMIH finance is expected to help clear land dues and restart remaining construction at Karnam Greens, aligning with broader efforts by Noida to resolve 57 legacy stalled projects where thousands of homebuyers are awaiting registries and possession. Officials have stressed that the relief for Sikka is “conditional”, balancing revenue recovery with the objective of safeguarding buyers who have already invested in the project. For the wider real-estate market, the move underscores a policy approach that combines enforcement—through recovery certificates, asset attachment and possible auctions for non-compliant promoters—with structured rehabilitation where projects are financially viable. This mix of pressure and support, backed by central funds such as SWAMIH and state-level stalled-project frameworks, is gradually creating clearer timelines for stuck developments in Noida’s key residential corridors and is being closely watched by developers, lenders and homebuyers across the National Capital Region.