MUMBAI: World One, the world's tallest residential
tower under construction being developed by leading real estate giant Lodha
Group, has registered bookings to the tune of over US $ 78 mn in the
metropolis, three years after it has reopened for booking on November 29.
The iconic World One is part of the ultra-luxurious
development, the World Towers by Lodha Group. It is Asia's first project to
have interior design by Armani/CASA and is located in the island city's 'Golden
Mile', a mile-long stretch of premium residences, offices and entertainment
centers in south-central Mumbai.
Bookings to this 117 storey tower closed on December
14. Nearly 75 per cent of the civil construction has been initiated. The
project is expected to be completed in 2016.
"World One has reopened sales for a limited
window and we have received record bookings within few days. This reflects on
customer's appetite and desire for buying high-end, high quality
developments," said Abhishek Lodha, Managing Director, Lodha Group.
Currently 3 and 4 BHK apartments are being developed
and are being priced approximately
at Rs 70,000 per sq ft on carpet area for apartments sized 2,500-3,500 sq ft.
This takes the ticket size of the apartments to a whopping Rs 18 crore-Rs 25
crore.
The project located
in central Mumbai, close to the upmarket Worli, was initially launched in late
2010, however, after almost a year of sales, the bookings were stopped in end
2011.
The project will be
423 metres, or 1,400 ft, in height — almost 4.5 times the height of the Statue
of Liberty in the US.
Besides World One, Lodha Group is developing two
other towers - World View and World Crest - on the land parcel spread over 17
acres.
The World Towers will house luxurious World
Residences, World Villas and select World Mansions offering an exclusive
lifestyle experience to meet the demands of the cities affluent, eminent
personalities and the crème de la crème of India Inc.
The project, though
back again after a gap, had faced its set of challenges. The height of the
project had raised concerns that the tower may hinder the aircraft movement
from the Mumbai International Airport as the project is in the centre of the
city. In 2011, the International Civil Aviation Organisation (ICAO) had also
conducted a study to understand if there were any risks to the movement of
flights in and out of Mumbai.
Lodha on Tuesday
said, “All the necessary clearances, including civil aviation permissions, are
in place for the entire project. It will be a 117 storeyed project as
envisaged.” He added that 74 floors in the project are completed and the
construction is currently on for the 75th floor.
Some of the other
features of the World One include having India’s fastest elevators travelling
at 8 metres per second, first project in South Asia to have Armani/Casa design
its interiors and first project in India to be constructed with latest construction
technology called Jump-form shuttering system.
The entire project
called World Towers will have three towers — World One, World Crest and World
View.
According to real
estate experts, the demand for luxury residences continues in India. Om Ahuja,
CEO (residential services), JLL India, “Demand continues to be robust for
options in bonafide premium locations of the key Indian cities, but newly
tailored luxury addresses are also seeing their share of action as long as the
projects on offer meet certain parameters.”
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