Skytech Group Clears 25% Dues, Paves Way for Noida Flat Registrations

Skytech Group has settled 25% of its dues, totaling Rs. 6.05 crore, with the Noida Authority. This move resolves pending issues for homebuyers and enables the resumption of flat registrations in the Skytech Matrott project. The Noida Authority's initiative signals progress in resolving stalled real estate projects.

In a notable development for the real estate sector, Skytech Group, led by Mayank Chawla, has cleared 25% of its outstanding dues, amounting to Rs. 6.05 crore, owed to the Noida Authority. This payment was made under a special scheme introduced by Amitabh Kant, designed to tackle enduring real estate challenges in the region.

This breakthrough offers significant respite to homebuyers of Skytech Matrott, a residential project in Noida's Sector 76, by facilitating the resumption of long-awaited flat registrations. The Noida Authority is also set to unseal flats within the project, marking a pivotal move towards addressing unresolved issues and bolstering buyer confidence. Mayank Chawla, Managing Director of Skytech Group, commented that this action will complete pending sublease deeds with the aid of the Noida Authority.

The initiative has been well-received by homebuyers, who have long anticipated this resolution. The reopening of sealed flats by the Noida Authority is anticipated to speed up the process of transferring flats to rightful owners. Supported by Skytech Group and other developers, the Noida Authority's actions demonstrate a unified effort to overcome the hurdles faced by stalled real estate developments, promising improved outcomes for homebuyers.

(With inputs from agencies.)