Noida Authority Seals 27 Flats of Skytech Matrott Over Unpaid Dues
Noida Authority has taken decisive action against Skytech Construction Pvt Ltd for failing to clear outstanding dues of over ₹30 crore related to its group housing project, Skytech Matrott, located in Sector 76. Despite multiple notices and warnings, the developer failed to comply with payment obligations, prompting the Authority to seal 27 unsold flats in the project. This latest action follows an earlier move in September, when five flats were sealed for similar reasons.
The builder’s failure to pay the dues, which included payments for the plot and penalties, led to the sealing of the flats under the direction of the Authority’s CEO, Lokesh M. The developer had the option to resolve the issue through the state government’s rehabilitation policy, which allowed for settlement of dues with a 25% payment after deductions for the Covid-19 relief period from April 2020 to March 2022. However, Skytech failed to avail of this opportunity. Skytech was allotted a 20,900-square-metre plot in 2010 to develop the Skytech Matrott project, which includes over 700 apartments. However, the developer faced financial challenges and has been unable to clear the dues despite initial payments and multiple notices. The Authority had issued notices in May, July, and August of this year but saw no significant action from the builder.
The rehabilitation policy, introduced in December 2023, offered developers a chance to pay a reduced amount to settle their dues. Skytech paid only ₹1 crore but failed to follow through with the remaining payments. Consequently, Noida Authority had no choice but to seal the flats, which are currently unsold. This action highlights the increasing scrutiny of developers in Noida, where several projects are facing financial difficulties. Earlier in the year, the Authority also cancelled the allotment of a plot to Docile Buildtech Pvt Ltd in Sector 143 for non-payment of ₹130 crore in dues. Additionally, similar actions were taken against other builders such as Antriksh Golf View and Omaxe Buildhome Pvt Ltd, reinforcing the Authority’s commitment to ensuring compliance and accountability in the real estate sector. With the Authority continuing to crack down on non-compliant developers, the real estate landscape in Noida is under closer inspection, as both developers and buyers remain affected by delays and financial uncertainties in the market.
