Last week, the top court had ordered the demolition of two 40-storey towers, which are part of Supertech’s Emerald Court project in Noida, Uttar Pradesh.
Realty firm Supertech Ltd on Saturday said it will file a review petition against the Supreme Court’s order to demolish the company’s twin 40-storey towers in Noida, while claiming that the construction of buildings is competent as per the bye-laws. with the approval of the Authority.
Last week, the top court had ordered the demolition of two 40-storey towers, which are part of Supertech’s Emerald Court project in Noida, Uttar Pradesh.
“While we respect the order of the Hon’ble Supreme Court, we have decided to re-present the matter before the Hon’ble Supreme Court in the review application as the towers were constructed as per the approval of the Competent Authority as per the Building Bye. -Lodge,” said Supertech chairman RK Arora.
They said in a statement that Apex and Cayenne Towers are not associated with or part of any ongoing project of the company.
He added that Supertech Group is developing 100 million sq ft in its projects, while Apex and Cayenne Towers constitute only 6 lakh sq ft which is 0.6% of the total portfolio.
“While we have already refunded most of the customers in this project after the judgment of Hon’ble High Court, Allahabad in 2014 – we will follow the directions of Hon’ble Supreme Court as per the order passed,” Mr. Arora said.
Supertech Chairman expressed confidence that the order will not have any adverse impact on the company as each project has its own independent RERA account and cost centre.
“Supertech is a financially stable and strong conglomerate. Work is progressing as per schedule at all our project sites.
“We would like to assure all our customers, bankers, vendors and other stakeholders that we will deliver all our projects within the stipulated time frame,” Mr. Arora said.
In its order, the Supreme Court directed that the entire amount to the home buyers be refunded along with 12% interest from the time of booking.
The Residents Welfare Association should be paid ₹ 2 crore for the harassment caused due to the construction of the Twin Towers.
A bench of Justices DY Chandrachud and MR Shah had held that the judgment of the Allahabad High Court on April 11, 2014, which had directed the demolition of the Twin Towers, did not merit any interference.
The Bench had held that the twin 40-storey towers of Supertech were constructed in connivance with the Noida Authority along with 915 flats and shops and the High Court was right in that view.
The top court ordered that the demolition exercise of the twin towers be carried out within three months under the supervision of the Noida Authority and an expert agency and the cost of the entire exercise would be borne by Supertech Ltd.
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