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As aspirations soar, skyscrapers rise
Region’s Tallest Building To Touch 300M, High-Rise To Be Set In Sec 94 Noida
Noida: It’s been a year of the NCR’s rise so far. The record for the region’s tallest building has been broken several times over, even if only on paper. Just weeks after a construction firm announced plans to build Delhi’s first skyscraper (defined as a building taller than 150m) comes the news that the region’s tallest building will top 300m — more than four times the height of Qutub Minar.
While plans have not been formally unveiled, sources say the Supertech Supernova project will be set in Noida’s Sector 94, with an 80-floor skyscraper offering a mix of residential and commercial spaces as its centrepiece. That’s a full 20 floors and 45m higher than the last ‘planned’ tallest skyscraper:
Supertech’s 255m North Eye in Noida’s Sector 74. Meanwhile, plans for half a dozen other skyscrapers are also afloat in and around Delhi. What’s behind this sudden rush to set height records? Given the traditional preference for lower floors in the NCR and the prohibitive cost of building skyscrapers, such projects seem an expensive gamble.
However, real estate experts say a strong aspirational culture and the brandbuilding needs of developers make it a ripe time to launch such projects.
“We understand that the homebuyer has evolved. As per the demand, we offer a package of services and features that cannot be replicated in a row house,” says Getamber Anand, MD of ATS Infrastructure and vice-president of the builders’ organization CREDAI. “After the success of highrises in Mumbai and other metropolitan cities, Noida is now ready for tall buildings,” says realtor Pradeep Bhatia, adding, “although it costs more to build vertically, people want homes for ‘total’ living. They see home as a sanctuary and demand the best quality and durability”.
Aspirational choices have strongly influenced recent real estate developments in the NCR. Designer condominiums, shopping malls and world-class commercial complexes are now part of every developer’s blueprint. Although skyscraper projects mark a new trend, residential towers of more than 20 floors are becoming commonplace.
Anshuman Magazine, CMD of international property consultants CBRE, says upbeat, cosmopolitan urban youth are willing to splurge on luxury, convenience and entertainment. “Although cost of construction goes up if you go vertical, (local) development authorities (now) provide an opportunity for really tall buildings to come up.” Magazine sees the trend getting stronger. Sources told TOI construction of the Supernova project is expected to commence in December and will be completed by 2015.
There will be two luxury residential towers, two starrated hotel complexes, a high-end shopping avenue and an office tower. The residential towers will have around 1,500 high-end homes, including three- and four-bedroom apartments. Floor rates in