The Supreme Court on Tuesday directed real estate firm Supertech Builders to deposit Rs 5 crore by July 25 in the Emerald Court project case. A bench headed by Justice Dipak Misra also hinted at appointing an independent organisation to decide building violations by Supertech Builders. It posted the matter for further hearing on July 27.
The apex court had in July 2014 directed Supertech to refund within a month around Rs 35 crore to the allottees of twin towers —Apex and Ceyane towers on Noida Expressway — which were directed to be demolished by the Allahabad High Court for flouting building laws. There are around 53 allottees out of around 600, who had sought refund of their amount after the HC order.
The flats are on the outskirts of the Capital and prices range from R65-R90 lakh. The two 40-floor towers have 857 apartments, of which 600 have been sold. The Emerald Court House has 15 other towers, fully built with residents living here. Holding that flat owners cannot be forced to wait indefinitely due to litigation, the SC had then asked Supertech to allot alternate flats within a month to those allottees, who did not want a refund.
SOURCE: THE FINANCIAL EXPRESS
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