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Noida Authority has taken strict action against Skytech Construction Pvt Ltd for defaulting on payments related to its Skytech Matrott group housing project in Sector 76. Despite several notices, the builder failed to clear over INR 30 crore in outstanding dues. The Authority sealed 27 unsold flats at the project under the direction of its CEO, Lokesh M. The developer failed to utilise the state government's rehabilitation policy for stalled projects, resulting in non-compliance. Similar actions were also taken against Docile Buildtech Pvt Ltd and other developers for outstanding dues in recent months.
Noida Authority has taken stringent measures against Skytech Construction Pvt Ltd due to its failure to clear payments for the Skytech Matrott group housing project in Sector 76. Despite multiple notices, the builder did not clear dues amounting to more than INR 30 crore. As a result, the Authority sealed 27 unsold flats at the project on the instructions of its CEO, Lokesh M. This follows an earlier action in September, when five flats were sealed for non-compliance. Advertisement
Skytech did not avail itself of the state government's rehabilitation policy for stalled projects, which allowed developers to pay 25% of the total revised dues after deducting interest and penal interest during the Covid-19 relief period (April 2020 to March 2022). The policy was introduced in December 2023, but Skytech made only an initial deposit of INR 1 crore, failing to pay the balance despite multiple notices in May, July, and August this year.
The group housing plot for Skytech Matrott, measuring 20,900 square metres, was allocated in 2010. The project, which includes more than 700 apartments, has remained incomplete due to the builder's failure to settle dues. Out of the 716 approved units, only 474 have been registered.
In addition, the Authority recently cancelled the allotment of a 14,000-square-metre plot to Docile Buildtech Pvt Ltd in Sector 143, a subsidiary of the Logix Group, due to outstanding dues of INR 130 crore. Earlier this year, similar actions were taken against other developers, including sealing unsold flats of Antriksh Golf View in Sector 78 for defaulting on payments and taking action against Omaxe Buildhome Pvt Ltd for dues amounting to INR 457.8 crore.
Noida Authority's actions against builders like Skytech Construction Pvt Ltd, Docile Buildtech Pvt Ltd, and others underline its commitment to ensuring compliance and clearing outstanding dues. The Authority has also enforced strict measures on non-compliant developers who did not utilise available government policies aimed at easing financial burdens during the Covid-19 period. This proactive approach reflects the Authority's resolve to maintain order and accountability within the real estate sector in Noida.
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