Raze Noida twin towers, HC orders Supertech
Apr 12, 2014
Source : The Economic Times


NOIDA/ALLAHABAD: The Allahabad high court on Friday ordered the demolition of two 40-storeyed residential towers of Supertech's Emerald Count in Noida's upscale Sector 93A for flouting building norms, a ruling that sent shock waves across the booming real estate market in the National Capital Region.

A division bench of justices V K Shukla and Suneet Kumar ordered the demolition of the towers "within a period of four months" and ordered the builder to refund their money with "14% interest compounded annually". The court also directed the prosecution of the builder and officials of Noida Authority which allowed the construction.

The two towers — Apex and Ceyane — together have 857 flats whose price ranges from Rs 40 lakh to Rs 1.2 crore. Only 230 flats in the two under-construction towers remain unsold.

The two towers, part of Emerald Court Group Housing Society located near the Noida-Greater Noida expressway, were allegedly being constructed as an extension of a larger 70,000 square metre project costing about Rs 750 crore. The existing project was initiated in 2006, when permission was allegedly granted for 15 towers with just 11 storeys each. In 2009, a revised plan, including Apex and Ceyane, was submitted to the Noida Authority by purchasing additional floor area ratio, and got approved.

The two towers are in an advanced stage of construction. More than 21 floors have been constructed in Apex and 17 in Ceyane. Both towers are to have 14 flats on each floor. Each tower is also proposed to have a penthouse.

When contacted, RK Arora, CMD, Supertech Ltd, said, "We have not yet received the court order.... If we receive it and if it is against us, we will appeal in the Supreme Court. The construction which is going on at the project is legal and is approved from Noida Authority." Chairman and CEO of Noida Authority, Rama Raman, said he could not comment as he had not seen the court order in detail.

According to the Residents' Welfare Association of Emerald Court Group Housing Society, the petitioners in the case, the approval and construction of the two towers was in complete violation of provisions of the UP Apartments Act of 2010. "As per the Act, the builder is supposed to acquire no objection certificates from existing buyers before additional construction," said UBS Teotia, president of the RWA. "We have been running from pillar to post for the last two years and have approached officials of the Noida Authority, but to no avail," Teotia said. "Finally in December 2012, we approached the judiciary for reprieve," he added.

The RWA also alleged the builder has constructed shops in the basements of both towers, which are illegal.

Raze Noida twin towers, HC orders Supertech

Latest Realty News

Real estate sites helping people find compatible roomates
Apr 12, 2014
DELHI: Move over matrimony sites, even real estate sites are now matchmaking. In a first of its kind, a new start-up real estate site Grabhouse is helping people find compatible roomates while renting accommodation. There is a compatibility test mainly on likes and dislikes - vegetarian/non vegetarian,smoker/non-smoker, late night parties, on the site before users are given related info on the available rooms for rent.
Supertech to challenge Allahabad HC order in Supreme Court
Apr 12, 2014
DELHI: Realty firm Supertech today said it will challenge the Allahabad High Court order to demolish the company's two 40-storey towers in Noida housing project before the Supreme Court
Malls set to get larger
Apr 11, 2014
DELHI: Real estate developers and retail planners are working on mall designs which are much more spacious than hitherto
Market gets a new drive on Dwarka Expressway
Apr 11, 2014
DELHI: Construction on Dwarka Expressway is going on in full swing and it is likely that it will be completed in 2014-15, giving a big boost to residential and commercial real estate projects in the region.
Buying a property? Pick one before elections are over
Apr 11, 2014
DELHI: Discounts and offers from real estate developers are common, but this Navaratra was extra special with builders going over the top—bigger discounts, a variety of flexi-payment plans and freebies to attract buyers. The reason? The property market is witnessing a glut. According to Cushman and Wakefield, there was a 12% drop in new launches in the top eight cities and yet the supply is more than demand. Prices have remained flat (even fallen in some specific pockets) for quite a few months,
Sobha Developers' sales bookings rise 6 pc in FY14 to Rs 2,343 crore
Apr 11, 2014
DELHI: Realty firm Sobha Developers' sales bookings rose by about 6 per cent to Rs 2,343 crore in the last financial year on higher realisation but missed its target due to the slowdown, especially in the NCR-Gurgaon region.
ACME gets order to construct national games village in Kerala
Apr 11, 2014
DELHI: Green technology solutions firm ACME has bagged a contract for constructing the national games village in Kerala.
Shopping mall supply dips in A'bad in Q1 of 2014
Apr 09, 2014
DELHI: Supply of retail space in shopping malls fell by 65 per cent during January-March period in top eight cities of India to 3.5 lakh sq ft as completion of four malls got deferred, according to global property consultant Cushman & Wakefield.
Residential property most popular in Noida
Apr 09, 2014
DELHI: If you have booked your dream house and are awaiting the possession in the developing new sectors of Noida, then there is good news for you.
SBI extends special home loan scheme for women
Apr 08, 2014
DELHI: State Bank of India today extended the last date for special home loan scheme offering concessional rate to women borrowers.

Latest Realty News Of State

Realty Talk's