Noida Twin Tower Demolition | Rs 100-crore insurance cover in place for Rs 20-crore demolition

The cost of demolishing the Noida Supertech Twin Towers is pegged at Rs 20 crore, which works out to be around Rs 267 per square feet. Edifice Engineering, which is tasked to bring down the structures, has secured a Rs 100-crore insurance cover for any damages it may cause.

It took almost Rs 70 crore to build the two 32-structure buildings, costing almost Rs 933 per square feet (sq ft) for a total built-up area of 7.5 lakh sq ft.

Out of the total cost of demolition, Supertech is paying about Rs 5 crore and the remaining Rs 15 crore will be realised by selling the debris, which will weigh over 80,000 tonnes.

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“We have secured a basic insurance of Rs 100 crore and around Rs 2.5 crore for the gas pipeline in the vicinity,” Uttkarsh Mehta, partner at Edifice Engineering, told Moneycontrol.

“Any damage due to the fall will be covered. We have completed visual inspections and conducted vibration checks. All claims will be directed through the court,” he said.

The company anticipates that some window panes may develop cracks on account of air pressure for which “We already have a contractor in place. These would be replaced the same day,” he said.