| GEO Amazing and Interesting|
| Mumbai to get 117-storey high-rise|
| Updated at: 1128 PST, Wednesday, June 09, 2010|
MUMBAI: Barely a fortnight after its record-breaking bid of over Rs 4,000 crore for a six-acre plot in Wadala, the Mumbai-based Lodha Group unveiled plans to construct the world's tallest residential tower in central Mumbai.
The 117-storey skyscraper will come up on the 17-acre sprawl which once housed the Shreeniwas Cotton Mills in Lower Parel.
The Q1 building in Gold Coast, Australia, at 323 metres (78 floors), is currently the tallest residential building in the world. The Lodha building will be 442 metres high and contain 276 apartments. The Shapoorji Pallonji-constructed twin towers, Imperial Heights, at Tardeo, are at present India's tallest residential buildings at 249 metres or 60 storeys each.
Announcing the World One project on Tuesday, managing director Abhisheck Lodha said it would be an iconic tribute to Mumbai and a symbol of India's arrival on the global economic and cultural stage.
Apartments at World One will start at a minimum price of Rs 7.5 crore and go up to Rs 50 crore for duplexes. Lodha claimed that some units had already been booked in the range of Rs 25,000 to Rs 30,000 a square foot. The floor-space index (FSI) will be 3.7 and the total built-up area will be 1.2 million square feet. The construction cost will be between Rs 900 crore and Rs 1,000 crore.
"About two to three acres will be reserved for open spaces. Everyone will have access to it," he said. The construction is expected to commence in the next few months and is scheduled to be completed by 2014. The layout had been approved by the BMC, the group claimed.
"We have consciously tried to create a building which is global in its appeal but Indian in character. It will be an opportunity (for the occupant) to enjoy a global lifestyle, and at the same time ensure that the city gets public spaces," said Lodha.
According to a statement issued by the Lodha Group, the tower is expected to consume 2.5 lakh cubic metres of concrete, 35,000 metric tonnes of steel rebar, 40,000 square metres of glass, 14 million manhours and 18 elevators. World One will be one of the three towers planned on the Shreeniwas Mills property.
Palais Royale, a luxury skyscraper coming up at Worli Naka, is being touted as the tallest underconstruction residential building in the country when completed. It will be almost 300 metres high but have about 65 floors because the developer plans to give imposing ceiling heights in the apartments, each of which will be about 10,000 square feet in size.