SC orders Supertech to ink deal with Edifice to raze twin towers
Real Estate

SC orders Supertech to ink deal with Edifice to raze twin towers

On January 17, Noida Authority notified the Supreme Court that it has selected Edifice Engineering to raze the 40-storey twin towers situated in Noida even as the apex court ordered Supertech to complete the agreement with the firm for the demolition exercise within a week.

The Supreme Court ordered Supertech Ltd to execute a deal within a week with Edifice Engineering for the demolition of the 40-storey twin towers situated in Noida after the Noida Authority notified the apex court that it has chosen the firm to demolish the structures.

The Supreme court will hear the matter after a fortnight.

The counsel representing Noida Authority Ravindra Kumar told the apex court that after the last hearing on January 12, the Authority has selected the agency, Edifice Engineering, to perform the demolition work in consultation with the Central Building Research Institute (CBRI).

Parag Tripathi, a senior counsel, appearing on behalf of Supertech Ltd, notified the apex court that there are no complaints to the agency, which has been finalised, and the developer would be applying for all required no objection certificates (NOCs) within a week. The application for NOCs shall additionally be marked to Noida officials as their intervention will be needed for storing explosives etc.

But, the Supreme Court bench of Justices DY Chandrachud and Surya Kant denied giving more time to the realtor for entering into a deal with Edifice and said that the agreement should be inked within a week and NoCs can be received later.

The Supreme Court bench ordered that the admitted amounts which are due and payable as per Supertech will be encashed by the flat buyers without prejudice to their rights and contentions in the contempt proceedings. The homebuyers have been ordered to render the Real-Time Gross Settlement (RTGS) details to encourage the electronic transfer of funds.

The next date of hearing on this issue is on January 21.

Image Source

Also read: Noida Authority approves demolition of Supertech twin towers

Also read: Noida authority aims to demolish Supertech twin towers before 30 Nov

On January 17, Noida Authority notified the Supreme Court that it has selected Edifice Engineering to raze the 40-storey twin towers situated in Noida even as the apex court ordered Supertech to complete the agreement with the firm for the demolition exercise within a week. The Supreme Court ordered Supertech Ltd to execute a deal within a week with Edifice Engineering for the demolition of the 40-storey twin towers situated in Noida after the Noida Authority notified the apex court that it has chosen the firm to demolish the structures. The Supreme court will hear the matter after a fortnight. The counsel representing Noida Authority Ravindra Kumar told the apex court that after the last hearing on January 12, the Authority has selected the agency, Edifice Engineering, to perform the demolition work in consultation with the Central Building Research Institute (CBRI). Parag Tripathi, a senior counsel, appearing on behalf of Supertech Ltd, notified the apex court that there are no complaints to the agency, which has been finalised, and the developer would be applying for all required no objection certificates (NOCs) within a week. The application for NOCs shall additionally be marked to Noida officials as their intervention will be needed for storing explosives etc. But, the Supreme Court bench of Justices DY Chandrachud and Surya Kant denied giving more time to the realtor for entering into a deal with Edifice and said that the agreement should be inked within a week and NoCs can be received later. The Supreme Court bench ordered that the admitted amounts which are due and payable as per Supertech will be encashed by the flat buyers without prejudice to their rights and contentions in the contempt proceedings. The homebuyers have been ordered to render the Real-Time Gross Settlement (RTGS) details to encourage the electronic transfer of funds. The next date of hearing on this issue is on January 21. Image Source Also read: Noida Authority approves demolition of Supertech twin towers Also read: Noida authority aims to demolish Supertech twin towers before 30 Nov

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?