The performance of three-dimensional (3D) point cloud reconstruction is affected by dynamic features such as vegetation. Vegetation can be detected by near-infrared (NIR)-based indices; however, the sensors providing multispectral data are resource intensive. To address this issue, this study proposes a two-stage framework to firstly improve the performance of the 3D point cloud generation of buildings with a two-view SfM algorithm, and secondly, reduce noise caused by vegetation. The proposed framework can also overcome the lack of near-infrared data when identifying vegetation areas for reducing interferences in the SfM process. The first stage includes cross-sensor training, model selection and the evaluation of image-to-image RGB to color infrared (CIR) translation with Generative Adversarial Networks (GANs). The second stage includes feature detection with multiple feature detector operators, feature removal with respect to the NDVI-based vegetation classification, masking, matching, pose estimation and triangulation to generate sparse 3D point clouds. The materials utilized in both stages are a publicly available RGB-NIR dataset, and satellite and UAV imagery. The experimental results indicate that the cross-sensor and category-wise validation achieves an accuracy of 0.9466 and 0.9024, with a kappa coefficient of 0.8932 and 0.9110, respectively. The histogram-based evaluation demonstrates that the predicted NIR band is consistent with the original NIR data of the satellite test dataset. Finally, the test on the UAV RGB and artificially generated NIR with a segmentation-driven two-view SfM proves that the proposed framework can effectively translate RGB to CIR for NDVI calculation. Further, the artificially generated NDVI is able to segment and classify vegetation. As a result, the generated point cloud is less noisy, and the 3D model is enhanced.