Supreme Court Orders Supertech to Compensate Homebuyers of Demolished Twin Towers

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    In a recent development, the Supreme Court has directed real estate company Supertech to compensate 15 homebuyers of the twin towers that were demolished in Noida. The court’s decision came after Amicus Curiae Gaurav Agarwal informed Chief Justice of India DY Chandrachud and the bench that the outstanding amount due to the homebuyers is Rs 7.04 crores, with a balance of Rs 2.55 crores still payable by the developer.

    To address this issue, Agarwal requested the court to instruct the Resolution Professional (RP) to deposit Rs 1.25 crore in the Supreme Court’s registry by August 31. He further explained that this amount, along with approximately Rs two lakhs already deposited, would be utilized to pay the 15 homebuyers. Agarwal assured the court that this payment would cover around 50 percent of the outstanding amount owed to the homebuyers.

    The court agreed with the request and directed the RP to deposit the money from the 30 percent amount kept separately for administrative expenses. Additionally, the court ordered Reliance Home Finance Limited (RHFL) not to take any coercive measures against the homebuyers until the next hearing. RHFL was also instructed to share the account details of the homebuyers who have taken loans from them with the amicus curiae within one week.

    The demolition of the twin towers in Noida was initially addressed by the Supreme Court on August 31, 2021. At that time, the court concluded that the New Okhla Industrial Development Authority (NOIDA) and the builder had colluded to construct the towers illegally and without the consent of the flat owners as required by the Uttar Pradesh Apartment Act. The court also determined that the construction violated the guidelines regulating the minimum distance between two towers. These twin towers were built on the green space that was originally promised to the homebuyers of Emerald Court, which comprises several residential towers.

    By upholding the 2014 verdict of the Allahabad High Court, which ordered the demolition, the Supreme Court took a firm stance on the matter. The demolition was initiated by four Emerald Court homebuyers, all of whom were senior citizens, who filed a lawsuit against the builder in 2009.

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