After builder fails to pay ₹81 crore dues, Noida seals a residential tower

The Noida authority sealed a 14-storey under-construction tower of a housing project inside Cloud 9 Pvt Ltd’s Specia housing society in sector 100 on Tuesday, due to non-payment of ₹81crore in financial dues, officials said on Wednesday

The Noida authority sealed a 14-storey under-construction tower of a housing project inside Cloud 9 Pvt Ltd’s Specia housing society in sector 100 on Tuesday, due to non-payment of ₹81crore in financial dues, officials said on Wednesday.

The authority sealed the tower at 11.30am on Tuesday in the presence of police and the group housing team. (Sunil Ghosh/HT Photo)

“We have sealed the tower because the realtor has not cleared financial dues despite repeated notices. The action has been taken as part of our drive against defaulting realtors,” said Ritu Maheshwari, chief executive officer of the Noida authority, adding that the authority has taken possession of the flats.

The authority sealed the tower at 11.30am on Tuesday in the presence of police and the group housing team.

Cloud 9 Pvt Ltd started construction on this housing project in 2012 and was supposed to complete it by 2016. Since the realtor failed to clear dues and complete the project within the deadline, the validity of the building map was cancelled in 2016. The housing project has 3,000 units of which 2,900 are occupied.

Noida authority officials said they may sell the tower to recover the dues.

Cloud 9 Pvt Ltd was unavailable for comment despite repeated attempts.