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Diligent Builders has obtained the occupancy certificate for Tower A of its Antriksh Valley project in Sector 1, Greater Noida West, enabling possession and registration for 144 residential units. The certificate, issued by the Greater Noida Industrial Development Authority in the past week, follows the clearance of all dues to the authority and regulatory bodies. The developer handed over keys to around 25 allottees at a possession event, marking the revival of a previously stalled project. The development, supported by INR 115 crore funding under the SWAMIH initiative, includes a total of 331 units across two towers. Construction of Tower B and remaining amenities is underway, with phased completion targeted by 2027.
Diligent Builders has secured an occupancy certificate for Tower A of its Antriksh Valley residential project in Sector 1, Greater Noida West, in the past week, enabling possession and registration for 144 homebuyers after clearing all outstanding dues with authorities and regulatory bodies. Advertisement
The occupancy certificate was issued by the Greater Noida Industrial Development Authority, marking a key milestone in the revival of the project, which had remained stalled for a period. To mark the development, the company handed over keys to approximately 25 allottees during a possession event, with the remaining buyers now eligible to take possession and complete property registration.
According to the developer, nearly 100% of dues payable to the development authority and the real estate regulator have been cleared, allowing the project to proceed without financial encumbrances. This has also enabled the resumption of registration processes, which had been delayed earlier due to pending liabilities.
The project is being executed with financial support from the SWAMIH Fund, which has sanctioned INR 115 crore based on the project's revised financial and construction plan. The funding has been instrumental in restarting construction activity and progressing towards completion. The developer indicated that the project has complied with regulatory requirements, with no outstanding dues, which has also facilitated access to home loans from institutional lenders.
Ashwini Nagpal stated that the priority had been to revive the stalled project through a revised execution strategy. He indicated that Tower A was completed first due to its advanced stage of construction, enabling the company to obtain the occupancy certificate and initiate possession. He added that the focus is now on completing Tower B and associated amenities within the stipulated timeline.
Reconstruction work on the project commenced during 2023-24, with modifications to design and layout to align with current residential preferences. The revised plan included phased construction, improved amenities, and provisions for refunds to buyers opting to exit. The developer also undertook timely payment of statutory dues as part of the restructuring process.
Antriksh Valley comprises 331 units, including 316 residential and 15 commercial units, spread across two towers. The development is located on an approximately 2.5-acre plot and includes features such as double basement parking, multiple elevators, green spaces, a clubhouse, swimming pool, gymnasium, and indoor and outdoor sports facilities.
The company has set a target to complete the remaining construction, including Tower B with 172 units and common infrastructure, by December 2027. Construction is currently progressing in phases following financial and administrative approvals.
The developer also indicated that the project received support from authorities and regulators following recommendations aimed at resolving stalled housing developments. The clearance of liabilities and structured funding has enabled the project to move towards completion, with further progress dependent on adherence to timelines and execution plans.
Diligent Builders has delivered multiple projects in the region and is currently working on reviving additional stalled developments in Ghaziabad and Mathura as part of its ongoing portfolio strategy.
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