Noida Govt terminates 27 Flats of 'Skytech Matrott' for Unpaid Dues!

The Authority sealed 27 unsold apartments in the project at the request of its CEO, Lokesh M. It had previously sealed five apartments in the same project in September due to non-compliance.

Skytech Construction Pvt Ltd has been subject to stringent measures by the Noida Authority for their failure to make payments on time for their group housing project, Skytech Matrott, situated in Sector 76. The builder ignored numerous warnings but did not pay over Rs. 30 crore in arrears.

The developer did not pay 25% of the total revised dues after deducting interest and penal interest for the two-year.

Skytech was granted a 20,900-square-meter group housing plot on March 3, 2010, and the lease deed was signed on July 30 of the same year. The developer started work on the Skytech Matrott project, which included over 700 apartments, but they were unable to pay the debt associated with the plot.

Developers were given the option to pay their debts in accordance with the state's rehabilitation policy, which was released in December 2023. Skytech deposited Rs. 1 crore at first, but even after receiving several warnings on May 27, July 8, and August 14 of this year, it did not pay the remaining sum.

In Matrott, 474 of the 716 authorized units were registered. The Authority also canceled Docile Buildtech Pvt Ltd's (14,000 square meter) Sector 143 allotment this month due to non-payment of outstanding debts totaling Rs. 130 crore. Docile Buildtech Pvt Ltd is a subsidiary of Logix Group.