How much did Supertech lose in Noida twin towers' demolition?
A day after the demolition of two 103-meter-tall Supertech towers, Noida's Emerald Court housing society is swimming in debris. Reality firm Supertech has said that the demolition has hit it with a loss of Rs. 500cr. Meanwhile, residents of neighboring societies on Monday reportedly woke up to mountains of debris left behind after the demolition, which may take at least three months to clean.
Why does this story matter?
- The twin towers—Apex and Ceyane—located in Sector 93A, Noida, were demolished at 2:30 pm on Sunday, bringing a nine-year-long legal battle to end.
- On February 7, 2022, a Supreme Court bench of justices DY Chandrachud and Surya Kant ordered Supertech and Edifice Engineering—tasked with the demolition—to enforce the top court's 2021 order to bring down the twin towers for not complying with the law.
What other costs were covered by Supertech?
According to Supertech chairman RK Arora, the total built-up area of the twin towers was eight lakh square feet. Following the demolition, he claimed Supertech "constructed these towers as per the building plan approved by the Noida development authority." The demolition cost Rs. 20cr, of which Supertech paid Rs. 17.5cr to Edifice Engineering. Supertech also paid the premium for the Rs. 100cr insurance cover.
SC also ordered repayment to home buyers
In August 2021, the SC also directed Supertech to repay home buyers their entire deposit plus 12% annual interest from the time of purchase. The court also directed that the Residents Welfare Association must be paid Rs. 2cr for facing "harassment." The bench noted that the 40-story twin towers (with 915 flats and 21 shops) were constructed in collusion with the Noida Authority.
Noida wakes up to mountains of debris
Huge crowds gathered at rooftops and on the Noida-Greater Noida Expressway to watch the demolition on Sunday. However, the residents of neighboring societies woke up to mountains of debris on Monday, even as the cleaning of the area continued. "We have suffered enough...we want them (Edifice Engineering) to pick up the debris in cranes and lorries and just take them," a resident told NDTV.
Piles of debris at Supertech demolition site
Slight damage, dust covers remain on
Noida Authority CEO Ritu Maheshwari said the 10-meter boundary wall of the nearby ATS Society has been damaged due to debris. Covers that had been put up at neighboring buildings remained in place on Monday morning, too, to stop dust from entering the homes. Additionally, piles of rubble were visible in all areas. A cleaning drive is underway outside various housing societies, ANI reported.
Twin towers gone in 9 seconds
The demolition of the "twin towers" took place at 2:30 pm on Sunday. While the buildings were brought down in nine seconds, the dust cloud from the demolition took about 12 minutes to settle. The Rs. 20cr demolition exercise has sent over 900 apartments, currently valued at Rs. 700cr, down the drain. The buildings were razed with 3,700kg of explosives using a "waterfall method."