The land occupied by the now-demolished Supertech twin towers will be used for another residential project, the real estate firm has said. The work will be done only after getting a due approval from the Noida Authority and consent from the homebuyers of Emerald Court, Supertech said. The company’s comment came days after the 100-metre high Noida twin towers, constructed illegally, were demolished on the order of the Supreme Court after a battle of nine years.
In an interview with news agency ANI, Supertech chairman and managing director of Supertech RK Arora said that the Noida twin towers, Apex and Ceyanne, were “a part of the Emerald Court Project at Sector 93A constructed on land allotted by Noida Authority”.
“The building plans of the Project including the two towers were approved by the Noida Authority in 2009 which was strictly in accordance with the then prevailing Building byelaws. No deviation from the Building Plan was made and the building was constructed after making full payment to the Authority. Now both the towers are demolished and we had paid the demolition cost of Rs 17.5 crore to the agencies involved in the demolition as per Supreme Court,” Arora told ANI.
He added that Supertech will use the land with the approval of the authority and by taking the consent of the RWA, and will make use of it only as per rules.
Arora further said that Supertech had refunded 95 per cent of the homebuyers of Apex and Ceyane twin towers.
“Remaining five percent of the people who are left – we are either giving them property or returning the money with interest and fully complying with the order of the Supreme Court,” he added.
Arora said that one more project of Supertech Ltd, known as Ecovillage II and located in Greater Noida, is facing insolvency proceeding. That project is also promoted by him. “Only one project is facing insolvency proceeding and we are confident enough that none of any other projects will come under insolvency proceeding as his focus is to deliver all his ongoing project in next 24 months timeline.”
“Today 5,000 manpower is on-site working for the completion of the projects, and there is no fear of insolvency Proceeding on any other project, we hope that we will complete it timely,” he added.
On August 28, Sunday, a battle of nine years came to an end in just a matter of nine seconds for Emerald Court residents when the Supertech twin towers were demolished. The demolition, done through implosion by engineering company Edifice Engineering, left behind a mountain of debris but no damage to nearby properties were reported. The demolition incurred a loss of Rs 900 crore to Supertech, according to a company source.
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