Realcore Acquires KV Developers, Commits ₹250 Crore for Reviving Stalled Greater Noida Project

ReaRCo Acquires KV Developers, Completes Funding for Stalled KVD Wind Park Project

ReaRCo Private Limited, a real estate asset resolution company, has successfully acquired Noida-based KV Developers through the insolvency resolution process. As part of the acquisition, ReaRCo plans to invest Rs 250 crore to complete the stalled KVD Wind Park project in Greater Noida, bringing relief to around 400 homebuyers awaiting possession for over a decade.

The acquisition, completed through the National Company Law Tribunal (NCLT) process, is backed by Rs 195.5 crore funding from the SWAMIH Fund, a government-backed initiative managed by SBI Capital Ventures. The SWAMIH Fund provides last-mile financing to stalled, RERA-registered residential projects. As of early 2026, it has sanctioned investment in over 130 projects, helping to revive nearly 1 lakh homes across India, particularly in NCR, MMR, and Pune.

The acquisition marks a significant milestone for ReaRCo, which has demonstrated its ability to rescue an incomplete residential project through acquisition from NCLT in the first attempt. ReaRCo has also secured funding from the SWAMIH Fund, a first for the company in the real estate sector.

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The KVD Wind Park project, launched in 2012-13, entered insolvency in 2019. ReaRCo acquired rights in July 2023, obtained approvals from the authority and Uttar Pradesh Real Estate Regulatory Authority (UPRERA), and restarted construction in August 2024. Currently, construction of 650 units across five under-construction towers is underway to enable possession for existing homebuyers by the end of the year.

The project, now rebranded as “Vayu@KVD Wind Park”, has been upgraded with enhanced amenities including an infinity pool, terrace garden café, and clubhouse facilities. The development, spread over 5 acres in Techzone-4, Greater Noida West, comprises seven towers and around 850 units, with a total estimated sales value of Rs 500 crore.

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The revival of the KVD Wind Park project reflects the growing role of institutional capital and government-backed funds in resolving stalled housing projects and restoring buyer confidence in key residential markets. ReaRCo has cleared around Rs 35 crore of dues to financial institutions and Rs 60 crore to the development authority, making the project debt-free.