Who is the Owner of Twin Tower Noida?

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The Twin Tower which was demolished due to corruption charges is in controversy. Lot of people want to know the story behind the actual owner of Twin Tower located in Noida. Let us go through this article.

What is the Story behind Twin Tower Noida?

The Supertech Twin Towers located in Sector 93A of Noida have been demolished. At around 2:30 pm, the entire 32-storey building was found in the mud with a loud bang. It took only eight seconds for this skyscraper to collapse. In the construction of this building standing on the foundation of corruption, as much as the rules were ignored by the builder and the employees of Noida Authority, the common citizens had to fight against the builder. After all, who are these common people? Who is the owner of Twin Towers? What is the history of Twin Towers

The story begins on 23 November 2004. When the Noida Authority allotted plot number-4 located in Sector-93A for the Emerald Court. With the allotment permission was given to build 14 towers of 9 floors including the ground floor.
The permission was amended on 29 December 2006, two years after the land was allotted. The Noida Authority amended and allowed Supertech to build flats up to 11 floors instead of 9. Along with this the number of towers was also increased. First 15 and then their number was 16. In 2009 it was increased again. On 26 November 2009, the Noida Authority again passed the plan to build 17 towers. Even after this, this permission continued to increase.

Who is the actual owner of The Twin Tower located in Noida?

The company that made the twin towers in the Emerald Court project is Supertech Ltd. It is a non-government Illegal Real Estate company. The company was incorporated on December 7, 1995. RK Arora is the founder of Supertech. He has set up 34 of his companies. In 1999, RK Arora’s wife Sangeeta Arora started another company named Supertech Builders and Promoters Pvt Ltd. So, R K Arora is the owner of The Twin Tower located in Noida.

Supertech has so far 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 currently has an outstanding debt of about 400 crores.

Supertech was allotted 13.5 acres of land. The construction of 90 per cent of the project, or about 12 acres, was completed in 2009 itself. 10 percent area was shown as green zone. By 2011, news of the construction of two new towers started coming in. As much as the construction was done in 12 acres, the work of doing FAR in 1.6 acres through two skyscrapers was going on in full swing. It can be estimated that 900 families are living in 12 acres, the same number of families were preparing to settle in 1.6 acres.

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