Noida's twin towers were demolished last week months after Supreme Court deemed them illegal and ordered their removal. However, RK Arora, Chairman and Managing Director of Supertech Limited said the towers were built on the land allotted to them by Noida Authority and they had the consent of the homebuyers of Emerald Court. He also revealed what he plans to do with the land after the debris is cleared from the site.
RK Arora said the project was approved by the authority in 2009 adhering to the building bylaws. He said the two towers were built as per the building plan and after making full payment to the Noida authority. He claimed his company paid Rs 17.5 crore to demolish the towers.
He said the land will be put to future use after taking the required approval from the RWA and the authority as per rules.
He said Supertech has returned the money to 95 percent of the buyers and the remaining 5 percent will either get the money or alternative property.
He said the land will be used for another residential project but not without the required permissions.
Talking about his other project facing insolvency proceedings, he said, "Only one project is facing insolvency proceeding and is confident enough that none of any other projects will come under insolvency proceeding as his focus is to deliver all his ongoing project in next 24 months timeline."
The twin towers were among the tallest structures of the National Capital Region, taller than even the iconic Qutub Minar. It was razed using 3,700 kg explosion by a technical called Waterfall Implosion. It would take nearly three months to clear the debris.
With inputs from ANI
