Noida authority seals 27 flats of Skytech Matrott over financial dues

The Noida authority had on July 30, 2010 executed lease deed and also later gave possession of 20,900 square metres of housing plot to Skytech construction company. Skytech developed a housing project on this land and sold the apartments to homebuyers but failed to pay the land cost dues, which was to be paid in installments

Noida: The Noida authority on Thursday sealed 27 apartments in Skytech Matrott housing society since the promoter has failed to clear dues amounting to ₹24 crore despite repeated notices. Noida authority chief executive officer Lokesh M decided on the action to be taken on Wednesday and the apartments located in Sector 76 of the city were sealed on the following day.

The Noida authority on Thursday sealed 27 apartments in Skytech Matrott housing society since the promoter has failed to clear dues amounting to ₹24 crore despite repeated notices. (Sunil Ghosh)

“We have sealed and taken possession of the unsold apartments because the realtor failed to pay ₹24 crore financial dues despite the authority issuing multiple notices in the past. The action has been taken in compliance with the Uttar Pradesh government’s directions,” said Lokesh M, chief executive officer of the Noida authority.

The Noida authority had on July 30, 2010 executed lease deed and also later gave possession of 20,900 square metres of housing plot to Skytech construction company. Skytech developed a housing project on this land and sold the apartments to homebuyers but failed to pay the land cost dues, which was to be paid in installments.

The authority issued notices to the realtor many times including on May 27, 2024, July 8, 2024 and August 24, 20240 warning the developer either to pay the dues or face legal action.

“Despite reminders, the realtor failed to turn up to pay the dues to the authority thereby inviting the action of sealing,” said another Noida authority official.

HT tried to reach out to the realtor, but representatives from the firm were unavailable for comment.

The authority has also decided to auction these flats so that it can collect revenue against its financial dues.

The Uttar Pradesh government had on December 21, 2023 directed the Noida authority to give interest waivers on land cost dues to defaulter realtors. And if the realtors failed to make use of the state government scheme benefits then the authority was given the mandate to cancel land allotment, seal realtors’ assets, take possession and sell the same to recover its dues.

“We are taking action in line with the government directive and the action against all errant developers will continue,” the official cited above said.