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Conditional approval aims to revive stalled project under SWAMIH Fund support.

Noida Authority Restores Relief to Sikka Infrastructure for Sikka Karnam Greens Project.                                                                                                                        

The Noida Authority has granted in-principle approval to restore legacy stalled project policy benefits to Sikka Infrastructure for its Sikka Karnam Greens project in Sector 143B. The relief, however, is conditional on the builder withdrawing its revision petition before the state government and fulfilling financial requirements. Earlier, the Authority had revoked benefits and issued a recovery certificate to recover ₹252 crore in dues. Sikka has now offered 111 unsold flats and shops worth ₹252 crore as a financial guarantee, with 31 units already sealed. Once the conditions are met, the Authority will reissue the permission to mortgage in favour of the SWAMIH Investment Fund, enabling fund infusion to clear dues and complete pending work. The project, spread across 36,851 sq m, has 1,351 approved units, of which 749 are completed. The Authority called the move a balanced step toward project revival and financial prudence.