With the supertech twin towers flying, the dream of a house also smoking, what repayment is enough to buy an apartment today?

New Delhi: With the Supertech Twin Towers, the dream of many buyers who have booked apartments there has also been blown away. Many people who have booked apartments in these towers have not received a refund request so far. The refund amount people got is not enough to buy the same apartment as on the date. For that, homebuyers will either have to compromise with location or with less space. Overall, home buyers who have booked apartments have been hit hard. The question is also asked what is the fault of the people in all this. Neither the builders of the twin towers were punished. Neither did the people who built it. Suggestions are made as to why the building exploded. Couldn’t there be a hospital, a home or a roof for those in need? The Supertech Twin Towers were demolished around 2:30 p.m. Sunday. Both towers were grounded following the Supreme Court order.

In 2009-10, many people booked apartments in these twin towers. Then he invested his hard-earned money in it. Has taken out a loan from the bank. Today, it is out of their reach to buy a similar house. After the Supreme Court order, builders must repay with 12% interest. In these two towers, 711 buyers had reserved apartments. Of these, the claims of more than 650 buyers have been settled. But, there are still a large number of buyers who are waiting for the payment of their debts.

not just complaints
It’s not just a matter of claiming. This also includes a hike in prices of Rs. About a decade ago when people booked apartments, the price of those apartments was around Rs 40 lakh. At that time, no one even thought that the tower they thought they were living in would be demolished after it was built. The rules were left hanging when it was made. These buyers feel cheated today. It is impossible to buy a similar apartment today with the reimbursement amount in hand. Real estate prices have exploded over the past ten years. Ten years ago, many of these people had invested all of their deposits to book apartments.

It will be difficult to buy a house with the repayment amount
Most real estate brokers agree that it will be difficult for buyers to secure a twin tower apartment with the refund amount. To date, the cost of such a large apartment in a place like Twin Towers has exceeded Rs 1 crore. Even in remote areas of Noida, the price is around Rs.6,000 sq ft. That is, the cost of the house will be around Rs 60-70 lakh. Those who receive the refund amount will have to spend at least 30-40% more.

Source: navbharattimes.indiatimes.com

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