Homebuyers breathe a sigh of relief

Noida: Following Supreme Court's order to bring down the 40-floor residential twin towers built by real estate giant Supretech builder in Noida, the home-buyers have expressed a sigh of relief as they have been left in lurch by builder's negligence for past many years.

The Honourable court has ordered to demolish the two multi-storey buildings with nearly 915 flats and 21 shops, most of the home-buyers who have invested their life time savings are being affected. Around 250 buyers are there who are yet to get their refunds and after Supreme Court's order, the stranded home-buyers will get 12 percent annual interest, from the date of payment, along with the money invested within two months, stated the Supreme Court's order.

Naveen Jain, a buyer in Supertech's Emerald Court project said that for past several years they have been staging protest as the project was stalled. "We have invested our life time savings into the project and we were dreaming of owing a house. However, with several discrepancies, the project got stalled and we were left with paying a dual burden of rent and EMI," he said.

Buyers said that they will take refund and explore other options in the regions.

Meanwhile, the Noida authority has initiated a departmental inquiry lagainst the responsible employees of the planning department. "Following the orders from Supreme Court, we are undertaking demolition of twin towers which will be done within three months. The tower-16 and tower-17, which are unauthorisedly built are separated in a very less distance and is haunting the residents of three towers living in their shadows. The Noida authority will float tenders to identify the Companied that have expertise in using explosives in controlled manner. Soon we will carry out the demolition process," said a senior officer of Noida authority.