Maradu demolitions: Recovery of Rs 150 crore needed to cover costs

With the Maradu demolitions over, the focus has now shifted to the compensation to be provided the evicted flats owners of the ill-fated apartment complexes. 

Published: 15th January 2020 07:02 AM  |   Last Updated: 15th January 2020 07:02 AM   |  A+A-

Maradu building demolition

Maradu building demolition

Express News Service

KOCHI: With the Maradu demolitions over, the focus has now shifted to the compensation to be provided the evicted flats owners of the ill-fated apartment complexes. 

The Justice Balakrishnan Nair committee, which was appointed by the Supreme Court to look into the claims for compensation filed by the evicted residents, has set an average of Rs 35 lakh as additional compensation, other than the Rs 25 lakh interim compensation it has already approved for 277 out of 279 claim petitions.

This means the government will have to recover close to Rs 150 crore to cover the compensation amount as well as the demolition and other expenses.

Justice Nair said the committee has completed the process of approving additional compensation to evicted families of Jains Coral Cove. “Claims of the rest of the flat owners are under process. Though the amounts fluctuate a bit, it will come to an average of Rs 35 lakh,” he said.

Builders submit list of property

Builders of the demolished apartment complexes – Holy Faith Builders & Developers Pvt Ltd (Holy Faith H2O), Alfa Ventures Pvt Ltd (Alfa Serene), K P Varkey & Sons and V S Builders (Golden Kayaloram) and Jain Housing & Construction Limited (Jains Coral Cove) – have submitted before the committee a list of their property to be sold to recover the amount for compensation. 

“It is a long list of mostly small and a few big properties. Most of them are in Ernakulam district. A 4-acre property is the biggest of all,” Justice Nair said. The committee will soon send the list to the district administration for assessing the value of the properties. 

“After assessment, we will have to advertise and select the highest bidders. As per the SC direction, the committee will oversee the selling,” he said . 

The three-member committee, which includes former Chief Secretary K Jose Cyriac and former PWD Chief Engineer R Murukesan, will hold its next sitting on January 21 to take further decisions on the matter. 

Meanwhile, the government approved `1.2 crore as compensation for nine more flat owners on Monday in addition to the 58.11 crore transferred earlier to pay interim compensation.

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