DLF to build 90-storey towers at Lower Parel

Realty major DLF is all set to launch its 90-storey super luxury residential tower project in Lower Parel.

Realty major DLF is all set to launch its 90-storey super luxury residential tower project in Lower Parel.

HT Image

It will come up on an 17.5-acre plot that DLF bought from National Textile Corporation in 2006, for Rs 702 crore. Rajeev Talwar, group executive director, confirmed the group’s plan. “We’re waiting for approvals after which start building,” Talwar told Hindustan Times.

The company is planning to build around 2,000 super luxury apartments in the tower, each sold at Rs 27,000-Rs 30,000 per sq ft — that would take the price of each apartment to Rs 5 crore-Rs 10 crore

DLF had originally planned to use the site to build the largest mall in the city. Later, it changed the plan and said it would build a commercial-cum-residential complex.

Early this year, it changed the idea again in view of rough economic conditions and decided to have only residential units on the plot.

DLF will reportedly have a usable area of five million sq ft, on which it plans to construct twin 90-storey towers, which could earn it a combined total of roughly Rs 12,000 crore — Rs 15,000 crore.

The first 17 floors will be parking space, the 18th floor will be an extensive garden. Currently, the tallest skyscraper in India is the Imperial Towers at Tardeo, built by SD Corporation.

Awaiting approval is a 125-storey tower near the racecourse to be built by Joyus Housing Ltd, a consortium of three developers, Shapoorji Pallonji, Ackruti and the DLF Group.

— With agency inputs