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Supertech Emerald Court, Supertech Group, Sector - 93, Noida

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Supertech Emerald Court, Supertech Group, Sector - 93, Noida

Last updated: July 31 2018
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  • #91

    #91

    Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

    yupp.. all black component will go into loss and builder will return only what has been paid till now. Resale buyers will be at big loss.

    Comment

    • #92

      #92

      Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

      Another solution

      1 Levy crippling penalties
      2 Demolish top 20 stories
      3 Give refund to those whose flats are being demolished at 14 % compound interest-this itself will cripple SuperTech but will not kill them
      4 Prosecute & jail those involved
      5 Enforce UP Apartment ACT-SC can make it a part of its judgment

      In Noida Extension same thing has happened but since no one was living and there was no RWA and hence no one was their to fight.
      Builders, by their DNA, barring rare exceptions are greedy and unethical and so they only follow the norms- of this greed infested industry.
      Aroraji has blown away everything to be the biggest in North India. All your sophisticated ERP & CRM software is of no use if you do not have grace and are graceful to your customers.
      Infosys, Tatas & Mahindras have not become big & respected by following short cuts & not being graceful to customers.

      I firmly believe that a compromise will have to be found otherwise the Government will have to nationalize the whole construction industry in Noida & around to bail out the customers.

      Let us wait for the Supreme wisdom of the Supreme court but some people must go to jail.
      Rakesh Sharma

      Comment

      • #93

        #93

        Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

        Feel sorry for ATS Greens residents.

        They are stuck with this incomplete eyesore for a long, long time while the case crawls through our excruciatingly slow legal process.

        Comment

        • #94

          #94

          Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

          SharmaJi, Allahabad has already given a compromising solution.

          Supertech: If a pickpocketer caught in bus get's 1-2 year jail for robbing Rs1000, if a chain snatcher gets 2-3 years , how much should Supertech should get ????????????????? Had he been in USA , it would have been atleast 7-10 years.....Here its just demolish the building and compensation at 14%........

          Buyers: They should feel happy that they are atleast getting 14%....
          Lot of things are available in Noida Exp in resale in 3500-4500 rates. So, they are not impacted much.
          Actually, they are the biggest fools ,. They should not have even got a penny. When Supertech launched these towers, the neighbouring Emrald court was already ready. Even a dumb man could smell that something is wrong ..How can two towers be erected in society where people are living happily for years. I chose NOT to INVEST at that time seeing that scenario.


          Noida Authority: Its time to dismantle the concept of Noida authority along with GNIDA. Enough is enough !!

          Comment

          • #95

            #95

            Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

            Causal comment by Narana

            @narana

            Several builders have been indulged in raising unauthorised structures in over dozen Sectors, including 74, 77, 116, 117, 112 and 113 flouting regulations. As per a rough estimate, the illegal construction is taking place on over 10 lakh square metres of land, which is yet to be acquired by Noida Authority.

            So, u see, it's every where & it's about Supertech who got caught & unfortunate investors went into fix for no fault. Now, in response to your bogus statement that "They should not have even got a penny. When Supertech launched these towers, the neighbouring Emrald court was already ready. Even a dumb man could smell that something is wrong ..How can two towers be erected in society where people are living happily for years" Let me get your facts right. Prima facia, it's developer who hide the fact that an existing RWA of Emrald tower has disputed the project in Noida Authority before approacing high court in 2012. Project was launched in 2009. It was backed by IDBI & Corporatation Bank. A lay man's first check point for any project is approval by Bank.Now, how can so called Dumb man can smell wrong... The piece of land where Apex tower stand was purchased in addition to the Emrald court Land. Therefore construction is permisible (I'm referring to High court jurisdiction). The dispute is not about how a tower is errected but about voilation of UP apartment act 2010 that mandates minimum distance between towers in proportion to height. Builder raised the height abruptly. It was earlier G+24 which even the RWA had no problems. G+40 became the dispute.

            Aggrieved investors are innocent & duped by both developer & noida authority (dat's what High court says). It can happen with anyone of us.People have taken loan & banks have sanctioned loan. So, Imagine, emi going every month for a property which is under litigation for how long ??...Just imagine their grevience.

            Be an informed guy & response after going through the facts.
            Originally posted by narana View Post
            SharmaJi, Allahabad has already given a compromising solution.

            Supertech: If a pickpocketer caught in bus get's 1-2 year jail for robbing Rs1000, if a chain snatcher gets 2-3 years , how much should Supertech should get ????????????????? Had he been in USA , it would have been atleast 7-10 years.....Here its just demolish the building and compensation at 14%........

            Buyers: They should feel happy that they are atleast getting 14%....
            Lot of things are available in Noida Exp in resale in 3500-4500 rates. So, they are not impacted much.
            Actually, they are the biggest fools ,. They should not have even got a penny. When Supertech launched these towers, the neighbouring Emrald court was already ready. Even a dumb man could smell that something is wrong ..How can two towers be erected in society where people are living happily for years. I chose NOT to INVEST at that time seeing that scenario.


            Noida Authority: Its time to dismantle the concept of Noida authority along with GNIDA. Enough is enough !!

            Comment

            • #96

              #96

              Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

              Hi
              Greetings

              narana ji
              gaurav ji
              Sharma ji

              The basic premise of any business and contract is good faith and trust.. Infact any solid society is based on the promise of maintaining a win win situation for all the stake holders. This also has to be understood by the buyers that "caveat emptor" (buyer beware) applies and they should take all possible measures to ensure propriety of contract. Therefore, there should be no doubt about the actions initiated by the RWA. A preconveived, Pre concocted, pre collusion with banks and authorities is a direct assault on good faith and trust. Brokers play a very important role and they should be acting in the interest of buyers in clarifying the legality of the approvals, which they did not.

              Now what does a common salary earner or a proprietor of a small business or a tuition center owner or a service provider depend on for taking home buying decisions??

              RULE OF LAW and AUTHORITIES which are all powerful

              Here, the stake holders are the
              -Authority
              -The builder
              -The Buyer
              -The Banks
              -The Brokers

              Amongst these, it is only the buyer who puts at stake his family equity. His risk is that of his security and dignity of family. He sacrifices his leverage capability to enable the bank to provide loan for the builder to ensure and facilitate the completion of project through the most important resource.. FINANCE. The other stake holders are organisations, authorities, companies, business while a buyer is a harmless individual. Therefore, it is urgently required to have a regulator for all stake holders unless we are looking for more judgement like Campa Cola society, Ardee City, Supertech, etc. Unfortunately, the bill is still not made into an act, purely to prevent politician funded RE enterprises.

              It therefore becomes pertinent that security of the interest of the BUYER be utmost, not only from the structure of interaction between stake holders but also is AMPLY SECURED by our constitution and various treaties, entered into by our country for securing right of life and housing for individuals.

              Any such crime conducted in US/UK/Europe/JAPAN would have been met with exemplary punishment and fines NOT ONLY for the builder but the banks, the brokers, the authorities.

              Questions about "SUPERTECH bechara phas gaya, baki bhi aise karte hain", does not mean that others cannot be prosecuted.. In fact, if other RWAs would now want, they have a massive tool in the form of Supertech pronouncement. A tool which will help them book any defaulting builder. This is also very likely to happen and will help in cleansing this industry.

              Cheers
              Attached Files

              Comment

              • #97

                #97

                Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

                Could'nt agree more
                Rakesh Sharma

                Comment

                • #98

                  #98

                  Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

                  Agree..

                  I'm not all trying to defend the builder. The point you highlited & generic & true. But here, the authority (Govt.) & builder joined hand to fraud innocent buyers like us. I want both builder & authority to get punishment as per international code if possible. But now what shd the investor do ? Can anyone do due diligence to such a core level where a dispute between RWA & Noida authority be traced. Can investor buy another home at Cost + 14% compund interest? ...what abt the oppotunity cost? All i want is fair justice to the aggrieved investors as well. It's true that norms were flouted but it came out after 5 yrs where towers are done & ready for possession next yr. I would wish Supereme court to take strictest view on first their own authory (Noida) & Builder & so called Banks who approved the project. However empathise with the investors by giving them their right to live against the hard earned taxed money.

                  Above all, Real estate regulatory act is need of the hour & shd be passed asap.
                  Originally posted by BlessU View Post
                  Hi
                  Greetings

                  narana ji
                  gaurav ji
                  Sharma ji

                  The basic premise of any business and contract is good faith and trust.. Infact any solid society is based on the promise of maintaining a win win situation for all the stake holders. This also has to be understood by the buyers that "caveat emptor" (buyer beware) applies and they should take all possible measures to ensure propriety of contract. Therefore, there should be no doubt about the actions initiated by the RWA. A preconveived, Pre concocted, pre collusion with banks and authorities is a direct assault on good faith and trust. Brokers play a very important role and they should be acting in the interest of buyers in clarifying the legality of the approvals, which they did not.

                  Now what does a common salary earner or a proprietor of a small business or a tuition center owner or a service provider depend on for taking home buying decisions??

                  RULE OF LAW and AUTHORITIES which are all powerful

                  Here, the stake holders are the
                  -Authority
                  -The builder
                  -The Buyer
                  -The Banks
                  -The Brokers

                  Amongst these, it is only the buyer who puts at stake his family equity. His risk is that of his security and dignity of family. He sacrifices his leverage capability to enable the bank to provide loan for the builder to ensure and facilitate the completion of project through the most important resource.. FINANCE. The other stake holders are organisations, authorities, companies, business while a buyer is a harmless individual. Therefore, it is urgently required to have a regulator for all stake holders unless we are looking for more judgement like Campa Cola society, Ardee City, Supertech, etc. Unfortunately, the bill is still not made into an act, purely to prevent politician funded RE enterprises.

                  It therefore becomes pertinent that security of the interest of the BUYER be utmost, not only from the structure of interaction between stake holders but also is AMPLY SECURED by our constitution and various treaties, entered into by our country for securing right of life and housing for individuals.

                  Any such crime conducted in US/UK/Europe/JAPAN would have been met with exemplary punishment and fines NOT ONLY for the builder but the banks, the brokers, the authorities.

                  Questions about "SUPERTECH bechara phas gaya, baki bhi aise karte hain", does not mean that others cannot be prosecuted.. In fact, if other RWAs would now want, they have a massive tool in the form of Supertech pronouncement. A tool which will help them book any defaulting builder. This is also very likely to happen and will help in cleansing this industry.

                  Cheers

                  Comment

                  • #99

                    #99

                    Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

                    Originally posted by 80gaurav View Post
                    I'm not all trying to defend the builder. The point you highlited & generic & true. But here, the authority (Govt.) & builder joined hand to fraud innocent buyers like us. I want both builder & authority to get punishment as per international code if possible. But now what shd the investor do ? Can anyone do due diligence to such a core level where a dispute between RWA & Noida authority be traced. Can investor buy another home at Cost + 14% compund interest? ...what abt the oppotunity cost? All i want is fair justice to the aggrieved investors as well. It's true that norms were flouted but it came out after 5 yrs where towers are done & ready for possession next yr. I would wish Supereme court to take strictest view on first their own authory (Noida) & Builder & so called Banks who approved the project. However empathise with the investors by giving them their right to live against the hard earned taxed money.

                    Above all, Real estate regulatory act is need of the hour & shd be passed asap.
                    1 But now what shd the investor do?
                    Answer -They should accept the money with 14 % compounded interest.It is more than they could ask for even as an investor.They should consider themselves as lucky.
                    2 Can investor buy another home at Cost + 14% compund interest?
                    Answer - Very easily infact it is the blessing in disguise as the real estate is at its bottom.
                    If a buyer do some research he can get a good property with this money and from much reputed builder than Supertech

                    Comment


                    • Re : Supertech Emerald Court, Supertech Group, Sector - 93, Noida

                      Originally posted by 80gaurav View Post
                      I'm not all trying to defend the builder. The point you highlited & generic & true. But here, the authority (Govt.) & builder joined hand to fraud innocent buyers like us. I want both builder & authority to get punishment as per international code if possible. But now what shd the investor do ? Can anyone do due diligence to such a core level where a dispute between RWA & Noida authority be traced. Can investor buy another home at Cost + 14% compund interest? ...what abt the oppotunity cost? All i want is fair justice to the aggrieved investors as well. It's true that norms were flouted but it came out after 5 yrs where towers are done & ready for possession next yr. I would wish Supereme court to take strictest view on first their own authory (Noida) & Builder & so called Banks who approved the project. However empathise with the investors by giving them their right to live against the hard earned taxed money.

                      Above all, Real estate regulatory act is need of the hour & shd be passed asap.
                      When guys like you are not happy with the 14% interest order given by the high court and crying hoarse about opportunity cost, sometimes i feel hon'ble court would have been better off without this 14% udgement and let supertech offer you nothing or peanuts. 14% return on investment when you actually were part of the conspiracy with the builder to make the lives hell of the existing residents.
                      Opportunity cost in investment ? My foot!! Did you ask high Court before making the life hell of the existing residents ? And please know that Noida authority does not belong to SC For god's sake.
                      You have a choice - you can refuse to take 14% return on investment and approach the court again. I wish court gives you another judgement to settle with supertech automatically in some other project which never ever gets built.

                      Comment

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