Noida Twin Tower Demolition: Know total cost & who will pay what

Edifice Engineering, the company responsible for demolishing the Noida Supertech Twin Towers, has secured a Rs 100 crore worth insurance policy to cover any potential losses.

The humongous structure's demolition is estimated to cost Rs 20 crore, or around Rs 267 per square foot.

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

“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 predicts that due to air pressure, some window panes may shatter, for which "a contractor is already working here. These would be changed that day,” Mehta revealed.

The two 32-structure buildings were constructed for close to Rs 70 crore, costing close to Rs 933 per square foot (sq ft) for a total built-up area of 7.5 lakh sq ft.

Supertech is paying roughly Rs 5 crore of the demolition costs, and the rest Rs 15 crore will be made by selling the debris, which would weigh over 80,000 tonnes.