Noida: “I invest in a project and a building approved by the Noida Authority.
What can I say?” Flat that has been invested by Arvind Kushwaha, and waits for a decade, will not be conveyed to him.
This is not destroyed.
“More than Supertech developers, I was annoyed with the Noida authority response.
I’m bored with this back and forth.
Whatever you have to offer, I will be satisfied with it,” said Kushwaha on Tuesday after the twin towers of the Zamrud Court, Apex and Ceyane, ordered for destroyed by the Supreme Court.
The twin towers are planned for more than 40 floors, which will consist of 915 flats and 21 stores.
Both towers saw a total of 633 bookings.
So far, 133 investors have come out by accepting alternative homes in other supertech projects while 248 has taken refunds.
But there are 252 other buyers like Kushwaha who are still waiting for their money to be returned to them.
The Supreme Court has set a two-month deadline for all refunds, with an annual interest of 12%, must be paid.
Resident Vandana Vasundhara, who has ordered a flat on the 25th floor, is another buyer who expects a refund.
But he must have coughed more buying a house because he won’t get a flat in the area with the price offered when he invests in the twin towers.
Supertech said in a statement it would file a review petition.
“Our legal team is evaluating the Order,” said RK Arora, Chair of the Supertech Group Chair and President of the Real Estate Association, Naredco, at Uttar Pradesh.
“Meanwhile, we will obey the Supreme Court’s decision and do what has been ordered,” he added.
Asked about the impact on other developer projects, Arora said they were isolated from Tuesday’s orders because all projects were handled through a separate account.
“We have the capacity to fulfill our obligations and have made provisions in our books immediately after the Allahabad High Court gave the order,” Arora added.
After the commandment of the Supreme Court, which was critical of his role, Noida authorities on Tuesday said twin towers, apex and ceyane, would be destroyed within three months and the compliance report would be submitted to the court before November 30.
The Authority Planning Division will also examine the role of officials told the authorities between 2009 and 2012 and before that when the development plan was amended to improve responsibility and start prosecution against officials.
In the first week of August, after the APEX court made a stinging observation against the Noida Authority during his twin tower hearings, the state government had searched for a report from the authority to explain the role of officials who were married when building errors and violations of building regulations took place.