Taken aback by Allahabad High Court’s order to raze two 40-storey towers of Supertech’s Emerald Court in Noida’s Sector 93-A, anxious home buyers raised hell outside the realty major’s office in Sector 58. Investors alleged the developer had kept them in the dark about the project proffering wrong information all the while. Over 100 aggrieved buyers pencilled in their protest at the three-hour agitation. Supertech officials meanwhile have assured exploration of all legal options to protect buyer interests.
Supertech is also mulling to move Supreme Court for a stay on order by Allahabad High Court since 95 per cent work on the purportedly disputed towers is over. Up to 70 per cent of the 1,000 flats in these apartments have been booked so far.
The project with 857 flats in two towers, namely Apex and Ceyane, was launched in 2009. 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. The realtor has sold 627 flats so far. The buyers were scheduled to get possession by end 2013 but ongoing construction work delayed the date of possession. The delay was further compounded because 230 flats remain unsold. The flats are in the HIG and Super HIG category with three to four bedrooms priced between Rs 1 crore and Rs 2 crore.
Home buyers demanded to be recompensed by being given flats in other real estate projects. They squarely blamed Noida Authority for turning a blind eye. “We have been running from pillar to post for the last two years and had approached officials of Noida Authority, but to no avail. Finally in December 2012, we approached the judiciary for reprieve. Penal action must be initiated against Noida Authority officials as well as the builder for malfeasance,” said an agitated flat buyer.
The Allahabad High Court on Friday had ordered the demolition of two residential buildings in Noida for flouting norms and violating prescribed guidelines. The court said the construction of the two 40-storey buildings was not in accordance with the norms; hence, they should be razed to the ground. The HC gave these directives while hearing a petition moved in 2012 by people who had booked flats in the buildings. The court also ordered the real estate company to return the booking amount of the depositors with 14 per cent interest.