NOIDA: The Noida Authority has sealed three under-construction towers and 10 commercial outlets at the Lotus Panache project in Sector 110 due to unpaid dues totaling Rs 703 crore and illegal construction without proper building plan approval.
The action targets the project’s developer, Granite Gate Properties Pvt Ltd. This project, covering 1.6 lakh sqm and approved for 31 towers with 4,018 housing units, has faced scrutiny over violations. Last year, the Authority had already sealed three towers from the same project for similar issues.
Earlier this year, the developer, currently in insolvency proceedings, approached the Allahabad High Court. It sought directions for the Noida Authority to process its pending application for revalidation of the building plan, quash previous sealing orders, and refrain from further action until a decision was made. On April 7, the High Court directed the Noida Authority to decide on the revalidation application dated August 9, 2023, within four weeks, after allowing the resolution professional (RP) a chance to be heard.
The court mentioned that while the builder asserted it had paid the necessary charges, the Authority had not reached a final decision. Following this directive, Noida Authority CEO Lokesh M held a hearing with the appointed RP. Subsequently, on June 13, the Authority notified the RP that the total dues from January 11, 2019, to June 30, 2025, amounted to Rs 703 crore. The Authority stressed that no construction should occur until the building plans were officially revalidated.
A public notice board detailing the project’s outstanding dues was installed at the site last month. Despite this, construction work continued, leading the Authority to undertake sealing actions.
