With the destruction of Supertech’s twin skyscrapers in Noida, 500 crore was wasted.

Supertech's twin skyscrapers

Sunday’s demolition of the Supertech twin skyscrapers Apex and Ceyane in Noida’s Sector 93A wasted 500 crore. This demolition will create 28,000 metric tonnes of construction trash, according to the Noida government. Residents expressed mixed reactions to the Supreme Court’s order to demolish the twin skyscrapers for not obeying building rules.

Alok Singh, one of the founders of the Active Citizen Team, stated, “We accept the Supreme Court’s judgement, but instead of spending so much money, the government should have helped the city’s homeless people or built a hospital.”

“SC ruling teaches a lesson to all those who don’t respect the law and flout laws to generate money, deceiving investors or homebuyers,” said Sector 135 resident Sunil Mishra.

Supertech Limited spent 25 crore on land and 25 crore on layout clearances, since Noida requires payment. In 2009, the real estate agent bought this 8,000-square-meter site for Apex and Ceyane and additional land totaling 46,000 square metres on which the 11 Emerald Court residential buildings stood. The 102- and 97-metre towers took 5 years to build. In 2014, the Allahabad high court ordered the towers to be demolished for violating building codes.

“We spent 450 crore for Apex and Ceyane towers’ steel, cement, sand, labour, a bank loan, and interest. In 2014, when the Allahabad high court ordered the building demolished, we paid 500 crore. Supertech Limited chairman RK Arora said the delay won’t affect other projects.

The Supertech Limited said the removal of the twin towers will not disrupt their ongoing projects or business, and they are still committed to give allottees their units.

“We’ve delivered more than 40,000 Flats in the previous seven years, and we’ll continue to do so under our “Mission Completion – 2022″ plan,” added Arora.

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ZZED Reporter

Written by ZZED Reporter

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