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This demand from Supertech Limited, Noida Authority in preparation for re-building on Twin Towers

Photo:FILE Supertech in preparation for building a new building on Twin Towers

real estate company Supertech Limited It wants to develop a new residential project at the same site after its twin tower building in Noida was demolished with a controlled explosion. Supertech Chairman RK Arora said that if the Noida Development Authority does not approve the new project, the company will seek refund of land cost and other expenses. Supertech has claimed a loss of around Rs 500 crore due to the demolition of the twin towers following the Supreme Court order.

Action was taken for ignoring the rules

Both these towers inside the Emerald Court Society were constructed in violation of the prescribed norms. On the orders of the Supreme Court, on August 28, at 2.30 pm, these towers, about 100 meters high, were demolished with a destructor. More than 3,700 kg of explosives were used to bring it down. After clearing the debris from the tower site, Arora said the company would place a proposal before the Noida Development Authority to develop a residential project at the site. Along with this, the company will also seek the consent of the Resident Welfare Association (RWA) of the Emerald Court premises, if required.

The company is considering a new plan

He said the authority had allotted 14 acres of land to Supertech for a group housing project in Sector 93A of Noida. Twin towers were built on two acres of land out of this stretch of land. “Now the twin towers have been demolished and now we will come up with a proposal to develop a group housing project on two acres of land owned by the company,” Arora said in an interaction with PTI. Asked about the possibility of the company getting its approval from the authority, he said the company will definitely make a plan and then the authority has to take a call on it.

Arora said that if needed, the consent of the RWA of the Emerald Court would also be taken. The Supertech chairman said that in case the new project is not given permission, the company will seek the authority to refund its cost on this land. “At the current rate, the cost of this land should be around Rs 80 crore. Apart from this, about Rs 25 crore was also paid by Supertech for the purchase of additional floor area ratio (FAR) in this project,” Arora said.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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