Even as city developers like SD Corporation and IndiaBulls vie with each other to construct the tallest building, work is quietly underway on India’s tallest residential building at Jacob Circle in Mahalaxmi.
Every day for the past few weeks, hundreds of construction workers have been descending scaffolding staircases to excavate the foundation and build the steel columns that would form the base of Orchid Heights, a pair of 80-storey residential buildings (approximately 300 metres high) being constructed by DB Realty.
Spread across 6 acres, the buildings, to be developed in the premises of the defunct Pidilite Industries, will have 3.5 acres reserved for a garden and amenities such as gymnasium, swimming pool, and spa for the 150-plus 4-BHK and 6-BHK flats of 3,250 sq ft and above.
With permissions in place to construct up to 60 storeys, the developer today launched sales with a special offer of Rs20,000 per sq ft, with two free car parking slots and no floor rise (increase in rate per sq feet for higher floors) till the 36th floor. The first 18 levels are reserved for car park and other amenities.
The building will have six guest elevators, two ‘servant’ elevators, and four personalised elevators that will open directly in the apartments.
“We believe in giving products that are not only exclusive but also ensure privacy for our customers. That’s why the plan is such that the elevators open directly into the living room,” said Nabil Patel, director of DB Realty.
Post the special pre-sale offer, the rates will be hiked to Rs25,000 per sq ft, while car park slots will cost Rs10 lakh. To dissuade investors, the developer has kept a 2-year lock-in period, during which the buyer cannot sell the flat.
