Noida authority seals three towers at Lotus Panache for ₹700 crore dues & illegal construction
NOIDA: Noida Authority on Wednesday sealed three under-construction towers and 10 commercial outlets at the Lotus Panache project in Sector 110, citing dues worth Rs 703 crore and illegal construction without valid building plan approval.
The action was taken against the developer of the project, Granite Gate Properties Pvt Ltd. Spread over 1.6 lakh sqm, the project, approved for 31 towers and 4,018 housing units, has been under scrutiny for violations. Last year, the Authority had sealed three towers of the same project for similar violations.
Earlier this year, the developer, which is undergoing insolvency proceedings, approached Allahabad High Court through its resolution professional (RP) seeking directions for the Authority to process its pending revalidation application. The petition sought the Authority's permission to revalidate the building plan for five years, quash earlier sealing orders, and refrain from taking coercive action until a decision was made.
On April 7, the High Court disposed of the petition, directing Noida Authority CEO Lokesh M held a hearing with the appointed RP in compliance with the order. Subsequently, through an official letter dated June 13, the Authority informed the RP that the project's total dues from Jan 11, 2019, to to June 30, 2025, amounted to Rs 703 crore.
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https://realty.economictimes.indiatimes.com/news/regulatory/noida-authority-seals-lotus-panache-towers-over-700-crore-dues-and-illegal-construction/125315702?utm_source=Mailer&utm_medium=newsletter&utm_campaign=etrealty_news_2025-11-14&dt=2025-11-14&em=aW5kaXZhbHVldGVjaG5pY2FsQGdtYWlsLmNvbQ==
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