Zee Media Bureau
New Delhi: The Allahabad High Court on Friday ordered realty firm Supertech to demolish two of its 40-storey building at the Noida housing project, an order that has driven fear into lakhs of flat buyers of Noida Extension that similar orders may come for the Noida Extension builders too.
The High Court on Friday ordered the demolition of two Supertech's Emerald Court buildings in Sector 93A in Noida for violating 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 apartments with over 1,000 flats were built by a real estate major in sector 93-A of Noida.
The court also ordered Supertech to return the money to all those who had invested in the two towers "with 14 percent interest compounded annually".
Following this order, lakhs of flat buyers of Noida Extension have expressed concern that similar order might be passed against the Noida Extension builders.
"In Noida Extension, almost all the builders have constructed extra towers, what will happen to that?" said Shweta Bharti, a representative of Noida Extension Flat Owners Welfare Association.
"Why not Noida/Greater Noida Authority take action on time and save middle class buyers from being trapped? It's clear that there is a nexus between the authority and builders. We have written so many letters to GNIDA in this regard, but GNIDA didn't have time to reply. They are busy in counting money", she said.
She alleged the "main culprit" is the authority which doesn't take any action before such type of verdict comes from the court.
"Almost all the builders are using 3.5 FAR in Noida Extension whereas allowed FAR is only 2.75..Even builders have not applied for FAR to the authority. We are waiting for our homes for the last 5 years but not a single project has been given possession in Noida Extension", said Bharti.
"We hope builders and authority will take lessons from this judgement. But what will happen to 500 flat buyers who booked their flats in the said project? Dreams of their own home ruined. We appeal that officers behind this must be sacked and arrested immediately", said Bharti.
The realty firm said it would challenge the Allahabad High Court's order to demolish its buildings before the Supreme Court.
With Agency Inputs
First Published: Friday, April 11, 2014, 23:58