Supreme Court asks Supertech to deposit Rs 10 crore for refunding home buyers
Supreme Court
The buyers had booked flats in Supertech's Emerald Towers project, comprising of two 40-storey residential buildings in Noida, whose demolition was ordered by the Allahabad High Court
The Supreme Court today (February 21) ordered the prominent real estate firm Supertech to deposit a sum of Rs 10 crore for refunding home buyers who had booked flats in a Supertech project at Noida in Uttar Pradesh.
The buyers had booked flats in Supertech's Emerald Towers project, comprising of two 40-storey residential buildings in Noida, whose demolition was ordered by the Allahabad High Court.
The 2014 Allahabad High Court verdict had come on the plea of some residents of other buildings who had alleged that the twin towers were constructed on a green area.
The Supreme Court had on October 23 ordered its registry to disburse the principal amount to 26 home buyers who had not received any refund.
A bench headed by Chief Justice Dipak Misra and comprising of Justices AM Khanwilkar and DY Chandrachud had said that Rs 20 crore had been deposited with its registry by the real estate company and the money would be used in paying back the principal amount to the home buyers who had received nothing in refund.
In September last year, the court had asked the amicus curiae to set up a web portal to deal with grievances of home buyers.
In August last year, the top court had asked Supertech to deposit Rs 10 crore for refunding money to the investors who wanted to opt out of the project.
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Prior to this, it had said that if the two residential buildings in Noida were constructed without proper sanction, these would be "demolished".
(With inputs from PTI)