We present a novel Partial Virtual channel Sharing (PVS) NoC architecture which reduces the impact of faults on performance and also tolerates faults within the routing logic. Without PVS, failure of a component impairs the fault-free connected components, which leads to considerable performance degradation. Improving resource utilization is key in enhancing or sustaining performance with minimal overhead when faults or overload occurs. In the proposed architecture, autonomic virtual-channel buffer sharing is implemented with a novel algorithm that determines the sharing of buffers among a set of ports. The runtime allocation of the buffers depends on incoming load and fault occurrence. In addition, we propose an efficient technique for maintaining the accessibility of a processing element (PE) to the network even if its router is faulty. Our techniques can be used in any NoC topology and for both, 2D and 3D NoCs. The synthesis results for an integrated video conference application demonstrate 22 % reduction in average packet latency compared to state-of-the-art virtual channel (VC) based NoC architecture. Extensive quantitative simulation has been carried out with synthetic benchmarks. Simulation results reveal that the PVS architecture improves the performance significantly in presence of faults, compared to other VC-based NoC architectures.