Raheja Phoenix Kathputli Colony Shadipur New Delhi
At Kathputli Colony near Patel Nagar in west Delhi, strings and puppets are making way for the capital's tallest building. With a planned height of 190m, and 54 floors, Raheja Phoenix will not only be the city's first true skyscraper (generally defin
November 16, 2011 (Newswire.com) - At Kathputli Colony near Patel Nagar in west Delhi, strings and puppets are making way for the capital's tallest building. With a planned height of 190m, and 54 floors, Raheja Phoenix will not only be the city's first true skyscraper (generally defined as a building taller than 150m) but also a sounding board for its elite's 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 city's 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 city's 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 capital's tallest building.
The developers sound bullish about skyscrapers. R K Arora, CMD of Supertech, which is building the 255-metre, 60-storey North Eye project in Noida's Sector 74, says, "The trend has always been popular in Mumbai but is now catching on in north India. We are going to launch another high-rise project soon in Sector 94." Says Raheja Developers' chairman Navin Raheja, "Community living will become a part of life in India soon, with condominiums becoming the norm. It's time we capitalized on the trend in Delhi as well." His company has plans for another skyscraper project in the NCR: the 57-storey Revanta in Gurgaon. Another company, Ireo, recently announced it will build a 51-floor project, Victory Valley, in Gurgaon. Is it a lasting trend? With rates starting around Rs 8,800 per sq ft, these apartments are by no means cheap, but Magazine says regulatory hurdles and poor infrastructure, not price, could hobble the trend. "FAR (floor area ratio) restrictions mean that you pay more if you go vertical, as compared to the same FAR nearer ground. The ratio needs to be addressed to allow really tall buildings to come up in Delhi," he says, adding that sanitation and traffic issues also need to be addressed to promote high-density living in towers.
While the Phoenix project will be remembered as a milestone in Delhi's vertical rise, it will not pitchfork the city into Mumbai's league where several buildings taller than 200 metres are under construction. But the Delhi project can draw some solace by association, as it is a joint venture with the company that built the world's tallest building: the Burj Khalifa in Dubai. It also exceeds the city's currently tallest building - the 112-metre Civic Centre - by more than a Qutb Minar's length. Housing residential, retail and commercial structures across 14 acres, the Phoenix is one of DDA's few public-private partnership success stories. The project will also create 2,800 dwelling units for the slum dwellers it has displaced.
In a landmark deal, Raheja Developers, Delhi has inked a $ 204 million (about Rs 1,020 Cr) contract with Dubai-based Arabtec construction company that built the tallest tower in the world, Burj Khalifa in Dubai and also, landmark buildings like Okhta tower in Russia, Emirates Palace Hotel in Abu Dhabi and also have the credit of making the Palace of the king of Dubai. Initially, Arabtec will start construction on three of the Raheja projects, Raheja Revanta, Raheja Phoenix and Raheja Srishti.
The Raheja Revanta Project, Gurgaon, will be the first project to be constructed by them which would be one of the tallest skyscrapers in India. It is learnt that these projects in Northern India require specialised technology and manpower quality which was not up to the mark with any of the contracting companies in India. Raheja Revanta in Gurgaon will be over 56 storeys with a helipad and it will have first of its kind skybridge with an infinity pool at the 46th floor overlooking the Aravallis. The Raheja Phoenix project will have the tallest skyscraper in Delhi located at Patel Nagar,New Delhi and will comprise 54 storied tower with a skyclub and helipad. The height clearance for both the buildings has been cleared by DGCA.
Using the latest international state-ofthe-art technologies, Arabtec will also construct 2800 EWS houses under slum redevelopment PPP project of Rahejas with DDA in a time bound manner of two years. While talking to Raheja about their tallest building, they mentioned that the project would redefine the skyline of Gurgaon and will be much ahead of the construction standards in the country.
These homes will be digitally controlled and shall have high standards of home automation controlled through ipad, iphone, blackberry or desktop. One would even be able to switch on and off fans, lights, TV, music , air-conditioning and curtains enabling you to interact with your home. It will be a self sustaining green project to take care of energy and water conservation.
The project will also have a large spa facility under arrangement with Amatrra which has been awarded the 'Best Lifestyle Day Spa' by Limca Book of Records and visited by the who's who of the country.Amatrra homes in the complex will be sold by invitation only. When asked why Arabtec chose to form JV with Raheja, Martin Pinder, Director,Arabtec quoted "after talking to many developers in India, we concluded that Raheja Developers is the most professionally managed, technology driven,system oriented and almost debt free company with strong cash flows. They have a happy customer base and have to their credit several international and national level awards like 'Best Developer Worldwide' ,'Best Developer in India by Euromoney' and over 40 other awards recently. And that we found them to be reliable long term partners".
Categories: Real Estate