The battle in the real estate sector is literally hitting the skies. With cities growing vertically, skyscrapers are set to adorn the urban landscape in Indian cities. Mumbai takes the lead with a number of tall buildings.
And by 2014, India’s financial capital will have the world’s tallest residential building! Lodha Developers plans to build the world’s tallest residential tower at a cost of Rs 2,000 crore (Rs 20 billion) in central Mumbai.
The 1,450-feet (442 metre) WorldOne will come up at Worli on a 17-acre plot. The units would be priced between Rs 7.5-50 crore (Rs 75-500 million).
However, World One may become the second tallest residential building in the world if ‘The Pentominium’, a skyscraper under construction in Dubai, is completed by 2013 as per schedule. The residential tower funded by Trident International Holdings will be 516 metres (1,693 ft) tall.
At present, the tallest residential building is the 323-metre Q1 in Australia’s Gold Coast.