Supertech to develop new housing project on twin towers site. Details here

Supertech Ltd Chairman R K Arora has said that it intends to develop a new housing project at the demolition site, which incurred a loss of about 500 crore from the demolition of its twin towers and it will seek refund of land cost and other expenses if authorities do not approve the plan. Notably, the nearly 100-metre-tall twin towers, Apex and Ceyane, were demolished on August 28 as per a Supreme Court order that found their construction within Emerald Court premises in violation of norms, news agency PTI report said. 

Over 3,700 kg of explosives were used during the demolition and after the debris gets cleared from the site, Supertech chairman said the company will submit a proposal before the Noida development authority to develop a housing project and also take consent of RWA of Emerald Court, if needed. 

“We were allotted 14 acre of land by Noida authority in Noida Sector 93 A for the development of the group housing project. Out of the total land parcel, the twin towers were built on 2 acre land. Now the twin towers have been demolished, we will submit a plan to develop a group housing project on the 2 acre land which is owned by the company,” he told PTI

Additionally, Arora said the company will definitely put up a plan and then it is up to the authority, noting, “we will also take consent of RWA of Emerald Court if required.” When asked about the RWA’s plan to build temple on the land, Arora said: “The RWA should own the land to develop anything. Land is owned by us.” The chairman said the 2-acre land does not fall under green area. In case the permission to develop a housing project is not granted, he said Supertech will seek refund of land cost from the authority. 

Supertech chairman noted that the company has been convincing its customers as well as financial institutions that the demolition would not impact its other projects. “We have completed and given delivery of more than 70,000 units to homebuyers since inception and are committed to give delivery to remaining 20,000 homebuyers over the next two years,” Arora said. 

(With inputs from PTI)

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