Lodha aims record tower
Lodha Developers on Tuesday launched the world’s tallest residential building — the 450-metre (1,450-feet) high World One — in Mumbai at a project cost of Rs 2,000 crore.business Updated: Jun 08, 2010 22:55 IST
Lodha Developers on Tuesday launched the world’s tallest residential building — the 450-metre (1,450-feet) high World One — in Mumbai at a project cost of Rs 2,000 crore.
This super high rise, to be constructed in partnership with architects and structural consultants Pei Cobb Freed & Partners and Leslie E Robertson Associates, is targeted at ultra-rich individuals.
The smallest apartment in this 117-storied iconic development with a height of nearly half-a-kilometer is priced at Rs 7.5 crore ($1.5 milion), while the most expensive property — an uber-luxurious duplex mansion — is priced at Rs 50 crore.
Lodha has already started pre-launch sales of this project at price range of Rs 25,000 to Rs 30,000 per sq ft.
Lodha expects to generate sales revenue (commercial value) of Rs 5,000 crore from this project, which is slated for completion in 2014. Sales would commence from June end.
“Every global city is made memorable by its architectural landmarks. With World One, we will give Mumbai, its well deserved icon,” said Abhisheck Lodha, managing director, Lodha Group.
“We seek to bring to Mumbai, a landmark which will exemplify the spirit of Mumbai. It symbolises optimism and we will crate public space Mumbai has never seen before. There is no co relation between tall building and crash in property prices,” he added.
First Published: Jun 08, 2010 22:53 IST