The twin towers, which were demolished due to corruption allegations, are controversial. Many people want to know the story behind the real owners of the Petronas Twin Towers located in Noida. Let’s take a look at this article.
What is the story behind the twin towers of Noida?
The Ultra Tech Twin Towers in Noida’s District 93A have been demolished. Around 2.30pm, there was a loud bang and the entire 32-storey building was found in the mud. The skyscraper collapsed in just eight seconds. In this building built on corruption, the builders and Noida Authority employees flout the rules and ordinary citizens have to fight the builders. After all, who are these ordinary people? Who is the owner of the Twin Towers?What is the history of the twin towers
The story begins on November 23, 2004. The Noida authorities have allocated Lot 4 in Block 93A to the Emerald Court. Obtain assignment permission to build 14 towers with 9 floors including ground floor.
The permit was revised on December 29, 2006, two years after the land allocation. The Noida Authority modified and allowed Supertech to build condominiums up to 11 storeys instead of 9 storeys. At the same time, the number of towers has also increased. First 15 people, then 16 people. It was added again in 2009. On November 26, 2009, the Noida Authority again approved the plan to build 17 towers. Even after that, this permission continued to increase.
Who are the actual owners of the Petronas Twin Towers in Noida?
The company building the Twin Towers in the Emerald Court project is Supertech Ltd. It is a non-government illegal real estate company. The company was established on December 7, 1995. RK Arora is the founder of Supertech. He founded 34 companies. In 1999, RK Arora’s wife Sangeeta Arora started another company called Supertech Builders and Promoters Pvt Ltd. Hence, RK Arora is the owner of the Twin Towers in Noida.
To date, Supertech has launched real estate projects in 12 cities across the country, including Noida, Greater Noida, Meerut, Delhi-NCR. The National Company Law Tribunal declared the company bankrupt this year. The company’s current outstanding debt is around Rs 400 crore.
Supertech was allocated 13.5 acres of land. 90% of the project, or approximately 12 acres, was completed in 2009. 10% of the area is shown as a green area. By 2011, news of the construction of two new towers began to arrive. Construction is complete on 12 acres and work is in full swing on FAR on 1.6 acres via two skyscrapers. It can be estimated that 900 families live on 12 acres, and the same number of families are set to settle on 1.6 acres.