Noida Cancels Land to Logix Subsidiary Over Rs 1.3 Billion Dues
Real Estate

Noida Cancels Land to Logix Subsidiary Over Rs 1.3 Billion Dues

The Noida Authority cancelled the allotment of nearly 14,000 sq m of land to Docile Buildtech, a subsidiary of the Logix Group, due to non-payment of dues amounting to Rs 1.30 billion. The plot, located in Sector 143, had remained undeveloped for six years since its allotment, and was sealed after the company failed to respond to multiple notices.

In 2011, Logix Developers were allotted 1 lakh sq m of land in Sector 143 for a group housing project. A portion of this plot was subdivided and registered in favour of Docile Buildtech on October 30, 2018.

Noida Authority CEO, Lokesh M, stated that despite repeated notices, the company did not deposit the outstanding amount. He mentioned that a final 15-day notice was issued on October 22, but it was ignored. As a result, the allotment of 13,961 sq m was cancelled, and the registry was terminated.

Officials also revealed that a case had been filed against Docile Buildtech in the National Company Law Tribunal (NCLT), although insolvency proceedings had not yet been initiated. Logix Developers, too, are undergoing insolvency proceedings in the tribunal.

The Sector 143 plot was initially allotted at a rate of Rs 23,550 per sq m, totalling Rs 320 million. At the time of registration, the company paid Rs 30.2 million but failed to make any further payments. Over time, the outstanding amount, including penal interest, grew to Rs 1.30 billion. The current market value of the land is estimated at Rs 4.5 billion.

The Authority plans to re-allot the plot to a new developer to recover its revenue.

Last month, the Authority filed a complaint with the Delhi Police's Economic Offences Wing (EOW) against the promoters of Logix City Developers for unrealized dues and missed delivery timelines related to their Blossom Zest housing project in Sector 143.

The promoters—Devendra Mohan Saxena, Shakti Nath, Vikram Nath, and Meena Nath—are accused of creating third-party rights and misappropriating funds collected from homebuyers while failing to clear the Authority's dues.

The Noida Authority cancelled the allotment of nearly 14,000 sq m of land to Docile Buildtech, a subsidiary of the Logix Group, due to non-payment of dues amounting to Rs 1.30 billion. The plot, located in Sector 143, had remained undeveloped for six years since its allotment, and was sealed after the company failed to respond to multiple notices. In 2011, Logix Developers were allotted 1 lakh sq m of land in Sector 143 for a group housing project. A portion of this plot was subdivided and registered in favour of Docile Buildtech on October 30, 2018. Noida Authority CEO, Lokesh M, stated that despite repeated notices, the company did not deposit the outstanding amount. He mentioned that a final 15-day notice was issued on October 22, but it was ignored. As a result, the allotment of 13,961 sq m was cancelled, and the registry was terminated. Officials also revealed that a case had been filed against Docile Buildtech in the National Company Law Tribunal (NCLT), although insolvency proceedings had not yet been initiated. Logix Developers, too, are undergoing insolvency proceedings in the tribunal. The Sector 143 plot was initially allotted at a rate of Rs 23,550 per sq m, totalling Rs 320 million. At the time of registration, the company paid Rs 30.2 million but failed to make any further payments. Over time, the outstanding amount, including penal interest, grew to Rs 1.30 billion. The current market value of the land is estimated at Rs 4.5 billion. The Authority plans to re-allot the plot to a new developer to recover its revenue. Last month, the Authority filed a complaint with the Delhi Police's Economic Offences Wing (EOW) against the promoters of Logix City Developers for unrealized dues and missed delivery timelines related to their Blossom Zest housing project in Sector 143. The promoters—Devendra Mohan Saxena, Shakti Nath, Vikram Nath, and Meena Nath—are accused of creating third-party rights and misappropriating funds collected from homebuyers while failing to clear the Authority's dues.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement