The managing director of Heera Construction Company, which has put up an apartment complex next to Golden Kayaloram, the apartment that will be demolished on Sunday, has approached the Kerala High Court seeking to issue directions to the authorities for providing an insurance coverage of ₹125 crore.
The apartment, Heera Wind Faire, is located hardly six metres away from the building to be demolished.
There are 95 units in the building that was constructed by spending about ₹95 crore and nearly 80% of the housing units have been sold off, the petitioner submitted.
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The petitioner contended that the respondents had taken an insurance policy for ₹50 crore to compensate the damage to all the buildings in the area, which may be caused by the demolition. The insurance coverage was grossly insufficient, he submitted.
The petitioner further submitted that the authorities had not taken proper steps to cover the risk of the building. Though the Sub Collector, who was in charge of the demolition job, had inspected the property several times, he had not divulged the steps taken to compensate the petitioner in case of damage due to demolition. The authorities were duty-bound to give sufficient insurance coverage to the building, he submitted.