How Supertech’s Twin Tower Demolition is a Ray of Hope for Noida Real Estate?

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The case of Supertech’s 32-storey Twin Towers in Noida has finally come to a conclusion as the Supreme Court has ordered its demolition on August 28, 2022. Edifice Engineering has been given the responsibility of the demolition and all arrangements are in place. Resident’s evacuation, traffic planning, wiring of the floors with explosives and all arrangements have been done.

Residents as well as developers are of the opinion that it was a much-needed move that will ultimately change Noida’s real estate market for the better. Let’s us talk about all the good changes that the demolition of Supertech twin towers will bring.

Supreme Court’s verdict has restored buyers’ faith in the system

The chairman of UP RERA said to the media that this move sends a clear message to builders that if the rules are not followed, there will be consequences. Also, it restores buyers’ confidence in the legal system that governs the Indian real estate sector.

As per the rules, whenever a builder launches a new project, they have to get a proper layout map sanctioned from the competent authority. When the UP RERA is satisfied with the layout, only then they will approve the project and issue a registration number.

Moreover, all the certificates that are issued to a particular real estate project are uploaded on RERA’s official website. Buyers have been given full access to all these documents so that they can stay informed and make the right choice, when it comes to the biggest financial decision of their life, that is, buying their dream home. If there is any violation by a builder, quick actions will be taken.

Better Online Systems are in Place for Managing the Regulatory Framework

It took many years for the courts to reach a verdict for Supertech Twin Towers. But now, there have been several technical advancements and a better system is in place. We now have software that will sanction the maps of real estate projects. It has been designed in keeping with the UP Apartments Act 2010 and it will see whether the map and layout is in accordance with those guidelines. Strict action will be taken against those who do not follow all these regulations.

This verdict has come as a result of the tireless efforts of the residents and RWA. Now, buyers have become more informed, more cautious. As a result, builders will also have to exercise caution and adhere to all regulations. This move has definitely brought more transparency in the system. Buyers will not fall for false promises anymore.

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