New Delhi: Real estate company Supertech in Noida has suffered a major setback from the Supreme Court on Tuesday. In fact, the Supreme Court has held Apex and Sion Yawe-16 and 17 of Supertech’s Emerald Court project located at Noida Express illegal and ordered the demolition of both the 40-story towers. The court has ordered to demolish them in three months.
The Supreme Court reprimanded the Noida Authority, saying that the builder and the authority together are doing illegal work. Builders are doing all kinds of violations on the strength of their money. The major reason for illegal encroachment and construction in Noida is the nexus of builders and authority officials.
Know what will happen to the buyers
The top court has ordered the company to refund the money along with interest to the flat buyers. The court has said that the money of the flat owners will have to be returned. The interest of 12 percent per annum will have to be paid.
