Nimbus Projects will invest nearly Rs 1,000 crore to revive the stalled 'Sunworld Arista' housing project in Noida. This includes the dues of authority and lenders, to revive the project located in Sector-168, Noida.

Approved under Utar Pradesh’s co-development policy, the project anticipates Rs 1,400 crore in terms of revenue, addressing RERA cases and financial closures. 

While the developer will deliver the common areas for existing buyers of the stuck project, Sunworld Arista, it will get about a million sq. ft. of saleable area. 

With the execution of joint development agreement, the company has now acquired the development and sales rights over the undeveloped portion of the project Sunworld Arista Phase-II, comprising Towers 5, 7, 8 and 9, along with club consisting a total of 12,161.97 sq. mtrs.

The company plans to avail project construction facility of up to Rs 200 crore from financial institutions, and further sale of project will fund the balance amount.