Supertech property development firm has filed a special leave
petition on Supreme Court against the demolition of its emerald towers
in Noida. This is followed by the Noida authority planning to file
another petition, arguing that no norms were followed in approving the
construction of the towers.
The Allahabad High Court gave a demolition verdict on the illegal construction of two 40-storey towers owned by Supertech in Sector 93A, Noida. The court also mentioned that Supertech has to refund the money to affected home buyers with 14% interest and the towers should be demolished within 4 months. According to Supertech’s Chief R K Arora, the home buyers were given 3 options to choose: refund of money with 14% interest, shifting to any other Supertech’s ongoing project that equals their investment in Apex and Ceyane towers or stay with the same project and wait for Supreme Court verdict. He also mentioned that around 1-2% of affected buyers are interested in the refund while the rest wants their apartment in the Supertech emerald towers and the deadline to decide on the options have been extended till May 31.
Supertech has claimed that the firm has got all the approvals related to the property construction and followed the government approved layouts which is in compliance with the National building code 2005 and Noida authority bylaws. RK Arora also added that the home buyers’ interest is the foremost priority for Supertech. However, the Emerald Court owners Resident Welfare Association makes a point that the construction is in complete violence of the UP apartment acts. Most of the affected home buyers feel that only Supreme Court verdict can bring a solution to this issue which might take a long period.
You can also read Allahabad High court verdict on the Supertech project for more information.
The Allahabad High Court gave a demolition verdict on the illegal construction of two 40-storey towers owned by Supertech in Sector 93A, Noida. The court also mentioned that Supertech has to refund the money to affected home buyers with 14% interest and the towers should be demolished within 4 months. According to Supertech’s Chief R K Arora, the home buyers were given 3 options to choose: refund of money with 14% interest, shifting to any other Supertech’s ongoing project that equals their investment in Apex and Ceyane towers or stay with the same project and wait for Supreme Court verdict. He also mentioned that around 1-2% of affected buyers are interested in the refund while the rest wants their apartment in the Supertech emerald towers and the deadline to decide on the options have been extended till May 31.
Supertech has claimed that the firm has got all the approvals related to the property construction and followed the government approved layouts which is in compliance with the National building code 2005 and Noida authority bylaws. RK Arora also added that the home buyers’ interest is the foremost priority for Supertech. However, the Emerald Court owners Resident Welfare Association makes a point that the construction is in complete violence of the UP apartment acts. Most of the affected home buyers feel that only Supreme Court verdict can bring a solution to this issue which might take a long period.
You can also read Allahabad High court verdict on the Supertech project for more information.
