Notably, more than 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, according to news agency PTI report.
“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, as per the report.
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, the report said.
(With inputs from PTI)
