The Municipal Corporation of Delhi (MCD) is planning to build one of India’s tallest towers and north India’s highest at Minto Road in Delhi encompassing 53 floors with an area of 1.2 million sq ft. In the bids invited on Friday, realty major DLF Ltd emerged as the highest bidder at a cost of Rs 398 crore. It beat Parsvnath which bid Rs 326 crore.
To be developed as office space, the building will be on a 30-year lease and owned by the developer and the MCD on a 50-50 ratio. The building, will however, be maintained by the developer who bags the project. This project comes after the proposed tallest tower in the world to be built in Noida was scrapped due to financial and earthquake concerns.
The results of the bid will be officially announced in a week or two.
India does not have many skyscrapers due to a low floor space index. Most of the high rise buildings are in the commercial capital of Mumbai, where space is at a premium. A building above 24 metres is classified as a high-rise.
The tallest building under construction in India is the Park Hyatt Tower in Mumbai, set to be 301 metres, with a total of 85 floors. In Mumbai, Oberoi has planned to construct a 90-storey residential structure in Worli, which if built, will be the tallest residential structure in Asia Pacific.
The APIIC Tower, with 100 floors is expected to be built in Hyderabad. Also, in the same city Lanco is constructing the highest resdiential tower in the world with 90 plus floors.