 "Twin tower demolition, Supertech twin tower")
As the Supertech twin towers in Noida were razed to dust on Sunday, homebuyers who have invested in the developer's other projects across the NCR wondered "who actually got punished" as they are clueless whether they would get possession of their flats booked years ago.
These homebuyers, who had dreams of owning a home in the National Capital Region (NCR), had been glued to their television sets on Sunday watching the spectacle of the twin towers crashing like a pack of cards.
Arun Mishra, a Gurugram resident, was checking constant updates about the demolition on Sunday and feeling dejected.
Mishra, who booked a flat in Supertech's Hill Town project on the outskirts of Gurugram in 2015, has been waiting since then for possession. He was promised that the flat would be delivered to him by 2018.
"One thing that I did not understand from twin towers story is 'who actually got punished'. Just demolition of illegal towers is sufficient? Why wasn't the builder sent to jail? Homebuyers used their hard earned money to buy their dream homes. What they got in return: mental trauma and endless wait to get refund," he told PTI.
Also Read
"At least, in this case the Supreme Court has ordered refund. What about other projects where the builder has defaulted? No justice for them. It is very frustrating, he said.
Mishra isn't the only one with this feeling. Over 200 homebuyers from different projects of Supertech, who are fighting a legal battle against the builder seeking refund of the payments made, poured their frustration out on social media on Sunday.
The builder is already in a cash crunch. From where did the company derive funds for demolishing and refunding in the twin towers case? Obviously, in order to honour the Supreme Court decision, funds from existing projects will be diverted again and people like us will never get either our flats or refund, said Sunny Singh, who has a booking in Supertech's Azalia project in Gurugram.
The Supertech twin towers in Noida were demolished on Sunday, almost a year after the Supreme Court's direction to raze the illegally built structures.
After the ruling, Supertech had said that the demolition will not have any adverse impact" on the company or its group companies as every project has its own independent" RERA account and cost centre.
However, homebuyers are not ready to buy the developer's assurance.
The Supreme Court has definitely set a very bold example with this move. But is this enough to check the malpractices in the real estate sector? Will the Supreme Court step in for homebuyers who are in lurch due to wrongdoings of the same builder? We are also fighting a legal battle, but nobody knows when will we get justice. Feeling dejected, tweeted Lokesh, an IT professional who is struggling to pay rent as well as EMIs for an apartment.
Another homebuyer Ashish Gupta, a resident of Noida, said, Is demolition enough? Is it a punishment to the builder or homebuyers? People who had been waiting for their homes for over a decade were left as just spectators today, and what happens to others like us who are going to be indirectly affected?"
On Sunday, hundreds gathered near a ground in Noida to witness the once-in-a-lifetime spectacle of demolition of the 100-metre-tall Supertech twin towers cheered and clapped as the illegally built skyscrapers were reduced to rubble.
While some said the demolition sends out the message that corruption will not be tolerated in the country, others were there for an adrenaline rush.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
