The Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund has sanctioned approximately ₹115 crore for the completion of the Antriksh Valley, a stalled housing project in Sector 1, Greater Noida West. The project is being developed by Diligent Builders Pvt. Ltd. and revived by the new management during 2023-24.

Following its standard operating procedures, SWAMIH approved the funding, and SBI Capital will now monitor the project’s execution. The financial support is expected to facilitate the completion of the housing projects having 316 housing and 15 commercial units on a three side open 10,020 sq. mt. land parcel, equipped with modern amenities, double basement parking, ultra-modern club and gym, indoor and outdoor sports facilities, green landscape, etc.

Lt. Col. Ashwani Nagpal (Retd.), COO of Diligent Builders mentioned that we are thankful to the committee for approval of SWAMIH fund because it is not only result of our pure dedication to complete the stalled project but also a benchmark of trust and resilience of entire team who worked for the revival of a stalled project. We are enhancing our project beyond the initial commitments, upgrading the housing society to reflect current market standards and future needs.

In 2023–24, the new management began the revival of the Antriskh Valley by clearing land dues of the Authority (approx. 45 Cr.), resolving RERA penalties (approx. 5.50 Cr.), and settlement with homebuyers (approx. 60 whose total dues were around 15 Cr.), who were seeking exit. Further they received a sanctioned map from Gr Noida Authority by paying 25% of land dues as first of the project under recommendations of the Amitabh Kant Committee and then secured RERA extension. Although construction had resumed smoothly after the takeover, the developer sought additional capital to accelerate construction and development work and ensure timely completion. The latest SWAMIH funding marks a major step toward delivering the long-awaited project and strengthens the confidence of prospective home buyers of Antriksh Valley.

COO Lt. Col. Ashwani Nagpal (Retd.) further said that from the very beginning, our priority was to complete this project, and that determination drove us through the toughest phases of its revival. The SWAMIH Fund approval stands as a milestone and a powerful reassurance for homebuyers that project completion and timely possession are our top priorities. We are on the verge of finishing tower A, hence, the newly approved funds will primarily support the development of common amenities and construction of the second tower, which has been redesigned to offer 3 and 4-BHK apartments to meet evolving market demand.

The project, launched in 2011–12, was originally slated for completion between 2016 and 2018 but faced prolonged delays due to market fluctuations, poor sales and fund management, demonetization, the COVID-19 pandemic, and other challenges. During the stalled period, rising demands of refund from early homebuyers further strained the project’s finances.