Lanco plans world's tallest apartment

Hyderabad-based Lanco Group is all set to launch Lanco Hills, its maiden realty venture, at Manikonda in Hyderabad, aggregating to approximately 30 million sq ft at an estimated cost of Rs 5,500 crores.

"It will have a total of 12 towers and we are building the world's tallest residential tower with more than 100 floors here," said Mr A. Narasimhan, vice-president, Lanco Infratech Ltd. "The complex would be able to accommodate more than 75,000 IT professionals," he added.

But good things rarely come cheap. To get an apartment in the Signature Tower, customers have to shell out a minimum of Rs 4.5 crores to Rs 5 crores.

"Other residential complexes will come at a price ranging between Rs 80 lakhs and Rs 2 crores," said Mr G. Venkatesh Babu, managing director, Lanco Infratech Ltd.

"But if you compare the prices with those in Mumbai, then it‘s really cheap since land prices are far lower in Hyderabad," he added.

The project is expected to be completed in the next two years. "Lanco Hills will constitute one of the largest malls in the country with 2.5 million sq ft of area with 16-screen multiplexes, go-carting and ice skating rink," said Mr Babu.

"A premium luxury hotel of 400 rooms and a deluxe business hotel of 350 rooms will also be included," he said.