Wednesday, February 1, 2012

Got 50 crores? Consider Armani apartment in Mumbai

If you're recession-proof and are looking to spend Rs. 50 crore, consider this.Fashion legend Giorgio Armani is designing apartments in a building in Central Mumbai. Its promoters, the Lodha Group, say when completed, this will be the world's tallest residential tower. Apartments and villas will sell for between seven and 50 crores.

The World Towers project is reportedly worth Rs. 2000 crore. There will be two towers- --World One with 117 floors and the World Crest, which will be soaring over 700 ft. "The World One Towers is an all-encompassing undertaking that transforms our notions of architecture and technology, and is geared to create a new, highest-possible aesthetic experience. From furniture to the finishes, has been designed to provide intimacy and create a sense of relaxation," Armani-Casa managing director Fabrice Gouffran said.

Abhishek Lodha said bookings have already started and nearly 60 percent of the apartments have been sold so far. "Even though we talk about a slow down in demand in the real estate sector, we are receiving good response for the project," he said. The World One Tower, which will come up on the 17-acre plot of the defunct Shrinivas Mills at Lower Parel, which the Lodhas bought nearly five-years ago, will house three and four bedroom residences, lavish villas with private pools and some super-luxurious duplex flats.

Once completed, the 117-storey tower will be close to a kilometre tall, dwarfing the present tallest residential tower, Queensland Number One, in Australia that has a height of 323 metres.