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Will low-rise Delhi take to high living? NEW DELHI: NEW DELHI: At Kathputli Colony near Patel Nagar in west Delhi, strings and puppets are making way for the capitals tallest building. With a planned height of 190m, and 54 floors, Raheja Phoenix will not only be the citys first true skyscraper (generally defined as a building taller than 150m) but also a sounding board for its elites residential preferences. In a city where garden bungalows are the height of aspirational living, and lower floors fetch a premium in residential towers, selling apartments worth crores at vertiginous heights might prove a challenge, feel experts. But they also believe the success of this project could be the long-awaited stimulus for a gradual transformation of the citys skyline. Anshuman Magazine, head of international property consultants CBRE, says the time has come for Delhi to grow vertically, especially because land prices have skyrocketed. And breaking from the citys mid-rise trend - residential buildings of 12-15 floors - some developers are already constructing premium residential towers of 20 or more floors. Parsvnath Developers, which has both residential and commercial buildings in Delhi, has planned more than 20 floors at two of its projects: La Tropicana at Civil Lines and Parsvnath Paramount at Subhash Nagar, near Rajouri Garden. DLF, too, plans to build 20-odd floors at its projects in Greater Kailash-II and Moti Nagar. With a planned height of 190m, and 54 floors, elite residential colonies in Delhi will soon have to measure up to Raheja Phoenix, the capitals tallest building. Back |
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