Real Estate

Real Estate Transactions

SC directs demolition of Supertech Emerald's twin 40-storey towers in Noida in 3 mths

Economic Times  

The Supreme Court has directed the demolition of twin 40-storey towers of Supertech's Emerald Court project in Noida for violation of building by-laws. The apex court directed that the entire amount of home buyers be refunded with 12 interest from the time of the booking and the Residents Welfare Association be paid INR 2 crore for the harassment caused due to the construction of the twin towers. The bench said that demolition exercise of the twin towers be carried out within three months under the supervision of the Noida authority and an expert agency and the cost of the entire exercise has to be borne by Supertech Ltd.