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    Supertech: Noida Twin Towers land to be used for Residential project!

    credit: NDTV.com

    On Thursday, Supertech Limited made a statement. They said the Twin Towers, demolished on August 28 belonged to the them. Furthermore, they said they will utilise it for a new residential project. Once they have received the necessary clearance from Noida Authority and agreement from Emerald Court homeowners.

    Supertech Chairman’s Statement

    RK Arora, Chairman and Managing Director of Supertech Limited, made a statement in an exclusive interview. He said, “Noida Authority allocated the land on which Noida Twin Towers Apex and Ceyane were built. They were a part of the Emerald Court Project in Sector 93A.

    The Noida Authority authorised the project’s development plans, including the two buildings, in 2009. The official claimed -“It was strictly in conformity with the building bylaws in effect at the time”.

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    “The Building Plan was strictly followed, and the building was only erected when the Authority had received full payment. Furthermore he said, In compliance with the Supreme Court’s ruling, we have compensated the parties responsible for the damage 17.5 crore rupees.

    According to Mr. Arora, they will utilise the land with the authority’s permission and with the RWA’s cooperation, using it in accordance with the law.

    Mr. Arora stated: “95% of the people who purchased homes in the Apex and Ceyane twin buildings received refunds. We are fully complying with the Supreme Court’s judgement. The final 5% is being provided to all those who are left, when they come to us either property or money back with interest.”

    Supertech Limited’s Ecovillage II, a housing project in Greater Noida – marketed by R. K. Arora, is also the subject of an insolvency process.

    According to Mr. Arora, “Only one project is subject to an insolvency procedure. He is confident enough that none of the other projects will be as well. This was the result of  his objective to complete all of his active projects within the next 24 months.”

    He continued “Today, 5,000 people are working on-site to finish the projects, and there is no concern of going bankrupt.” As we move on with any other project, we aim to finish it on schedule.

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