: With a couple of skyscraper projects under way, the city’s skyline is set to reach new heights in the coming years.
Adding to the structures would be the latest 16-storey skyscraper featuring modular elements coming up nearBenz Circle. This is first of its kind project in India in which residents are provided flexibility to customise the facade of the apartment as well as interiors, according to representatives of Pooja Crafted Homes.
Post bifurcation, estimating demand for luxury residences in the city, infrastructure firms stepped in to tap the potential market by planning lavish apartments in and around the city.
To cater for the needs of the business class, government officials and others who would need luxury homes in the capital region, the Hyderabad-based construction company promoted by D Showry Reddy commissioned Austria-based Penda, a design and architecture studio which worked for projects across the world to create “A Tree Storey’’ beside SVS Function Hall adjacent to the national highway.
“The project, true meaning of ecological development and a breathing tower, is going to start in a couple of months and will be handed over to owners in the next three years. In a month, we will be getting all clearances and permissions from the government. It’s a unique building designed by Penda which won awards worldwide. One interesting feature of it is every apartment will have a balcony that hardly gets direct sunlight,” Rakesh Talwar, Vice-President, Marketing and Sales of the company, told The Hindu .
“The project is aimed at providing the feel of villa to residents even at the top floor and gardens are an important part of it. Penda experiments news techniques and one such is the balcony of the apartments,” Mr. Rakesh Talwar added. The project offers 78 flats with various amenities, including rainwater harvesting and a clubhouse.
Projects under way
Keystones Infra Pvt. Ltd is building a 16-storey residential tower ‘Sky Court’ at Bhavanipuram and is the first high-rise project to be started. Also, GEV Properties is building a 15-storey tower right in the heart of the city on Pinnamaneni Polyclinic Road offering more than 200 flats.
LEPL’s Mid Valley City is offering luxury flats in three high-rise residential towers with 27 floors and 19 floors near Mangalagiri close to the capital area. Ramakrishna Housing Ltd is making a bigger venture with several high-rise buildings with 31, 24 and 22 storeys in the capital region near ANU.
CREDAI secretary Alla Siva Reddy said that demand for luxurious apartments is very low compared to that of individual homes now. “People are not willing to invest crores in apartments. Instead they are going for individual houses for lesser or equal prices.
It seems there are no potential buyers in the capital region as of now. Only IT sector employees and other high income individuals can take luxury apartments,” Mr. Siva Reddy said.
