The Noida Supertech twin towers, which are going to be demolished on Sunday (August 28), took Rs 933 per square feet (sq ft) in construction costs and have a total built-up area of 7.5 lakh sq ft, which aggregates up to a total of Rs 70 crore. However, its demolition is also a costly affair as it requires a lot of explosives, manpower and equipment.
Of the twin towers (namely Apex and Ceyane), one building has an altitude of 103 metres, another is around 97-metre tall. The demolition cost for the twin towers, located at Sector 93-A of Noida, is estimated at about Rs 267 per sq ft. Given the total built-up area of about 7.5 lakh sq ft, the total demolition cost, including explosives, will be about Rs 20 crore.
Out of the total cost, Supertech is paying about Rs 5 crore and the remaining about Rs 15 crore amount will be realised by selling the debris, which will be about 55,000 tonnes including 4,000 tonnes of steel.
Apart from this, Edifice Engineering, the company that is responsible to bring down the buildings, has also secured a Rs 100-crore insurance cover for any damage in the vicinity area, if any.