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Skyscrapers & Supertalls Projects under construction above 200m/650ft tall



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Old February 10th, 2015, 06:09 PM   #1661
bhargavsura
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Well, I am going by the original FSI and the new the FSI given to this project. Based on that I calculated it to be roughly around 70 floors. Obviously I maybe wrong and it could be even higher or lower.
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Old July 1st, 2015, 06:10 PM   #1662
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Piramal Realty Eyes Marine Lines Plot?

as reported in economic times dated 10th June 2015....detail report below:

Piramal Realty Eyes Marine Lines Plot - In talks with DB Group to buy 2.2-acre, sea-facing land parcel for Rs 1,000 crore

Piramal Realty is in advanced talks with DB Group to acquire a prime sea-facing, 2.2-acre plot of land at Marine Lines in south Mum . 1,000 crore. The Ajay Pibai for over ` ramal-led company is also expected to give DB Group 20% of built-up space on the property , two persons familiar with the development said.
“Piramal Realty is currently doing due diligence for the deal and the talks are at an advanced stage, with the terms almost finalised,“ one of them said. Piramal Realty declined to comment. DB Realty, however, denied the development.
The proposed deal with Piramal Realty comes in the wake of the DB Group's decision to scrap its plan to develop India's tallest 126-storey fivestar luxury hotel on the plot that oversees the Arabian Sea. The group had initially proposed the project under the name of Park Hyatt Tower in 2008. It had acquired the plot, located close to SK Patil Udyan, in 2005 from Suresh Estates, another developer operating in south Mumbai.
The construction work for the proposed 718-metre skyscraper had started after approvals from the civic authority were obtained in 2010. However, the project was put on hold in 2011. DB Group will have to seek fresh approvals, including for the building plan to be prepared by Piramal Realty, whose payment of the consideration will be linked to the securing of these sanctions.
Piramal Realty, founded in 2011, is part of the Piramal Group and has invested over . 4,100 crore in acquiring ` prime properties in Byculla and Kurla in Mumbai and Thane in the past few years.
This is among the first such transactions involving DB Group after its alleged involvement in the 2G telecom spectrum scam in 2011. For the past few quarters, the developer has been looking to tie up with other developers to further some of its projects such as the MIG colony redevelopment in the Bandra suburb of Mumbai.
Late last year, the group's hospitality arm had held talks with another Mumbaibased developer, Sheth Creators, to jointly develop a high-end, sea-facing residential project on the same plot.However, these talks did not lead to any transaction.
Under the proposed agree ment, Piramal Realty will pay about ` . 60 crore as upfront, refundable deposit to DB Hospitality, which has now been rechristened Marine Drive Hospitality & Realty , as initial consideration, the people cited earlier said. Within two years of this initial payment, DB Group is expected to secure permissions for the proposed project plans and this will be treated as a trigger for payment of the balance over the next few years.
Piramal Realty will execute, brand and market the project, according to the proposed deal, while DB Group will be responsible for obtaining approvals from the civic au thority . In September 2014, Industrial Finance Corporation of India had put this plot on the block to recover its dues after the developer failed to repay secured debt. IFCI had invited bids under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act with a reserve . 606 crore for the plot.price of ` DB Group had challenged IFCI's move to auction the plot and the matter was referred to the debt recovery tribunal.
DB had moved the Supreme Court seeking directions to the state government to allow a higher hotel floor space index of 6.29 for the project. In December 2007, the court asked the state government to consider the developer's plea.
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Old July 1st, 2015, 06:13 PM   #1663
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D B Realty Ltd. clarified on the above news item

Clarifies on News item| Announcement
10 Jun,2015, 01:21PM IST
With reference to the news item appeared in Economic Times captioned "Piramal Realty eyes Marine Lines Plot", in this regard, D B Realty Ltd has Clarified to BSE as under: "Marine Drive Hospitality & Realty Pvt Ltd (Formerly D B Hospitality Pvt Ltd) is the owner of the property at Marine Lines and D B Realty Ltd has economic interests in the said Company, D B group through its flagship Company, D B Realty Ltd and its subsidiaries, associates and joint ventures own properties and / or development rights of vast tracts of developable land and with a view to exploit the potential property development for the multiple projects in the city of Mumbai looks into several alternatives on a continuous basis and evaluates various options and opportunities. Any such discussions with any of the property consultants, potential partners/ developers / investors do not merit disclosures, until they reach an advanced stage worthy of such disclosure. No such progress or conclusion has been reached with any of the prospective developers / investors including with regard to the Marine Lines property, which is owned by Marine Drive Hospitality & Realty Pvt Ltd. We, therefore deny the veracity of the news item. We assure you that keeping with the spirit of timely disclosure of any such proposed development activity, necessary disclosures shall be made to the Stock Exchanges as and when any negotiations materialise."less

http://economictimes.indiatimes.com/...nyid-20813.cms
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Old September 19th, 2015, 06:57 PM   #1664
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Sorry for anyone getting their hopes up for a second out of instinct, if you subscribed to this thread.

But there is more news. More of the same, unfortunately.
______________________________________

Piramals close to buying DB Realty's Marine Drive plot
Will construct residential high-rise on 2.2-acre plot
BS Reporter | Mumbai
September 8, 2015 Last Updated at 00:26 IST

Quote:
Piramal Realty, an Ajay Piramal group company, is set to take over DB Realty’s Marine Drive project in Mumbai for close to Rs 1,000 crore, a company executive said on Monday.

Piramal Realty will construct a residential high-rise on the 2.2-acre plot. “It is more or less a done deal. We are working on permission from the government to construct the residential tower,” an executive said.

DB Realty had planned a 5-star hotel on the plot that failed to go through because of legal issues involving the company’s promoters and a real estate slowdown. DB Realty shares closed flat at Rs 52.95 on Monday.

The plot was behind heritage buildings on Marine Drive and would, therefore, not be subject to height restrictions, said the executive, who did not wish to be named. Piramal Realty's investment comes in the midst of a real estate slowdown. With investments of close to $3 billion, Piramal Realty has emerged as the second largest investor in the sector after HDFC. The company is constructing a residential project in Byculla, a commercial complex in Kurla, and residential projects in Thane and Mulund.

Piramal Realty received equity funding of Rs 1,800 crore from Warburg Pincus and Rs 900 crore from Goldman Sachs in July. A large part of these funds will be used in the Marine Drive project. The investments by Warburg Pincus and Goldman Sachs were the biggest foreign direct investment in the Indian real estate sector in recent times, company executives said.

“With the Indian economy growing at seven-eight per cent annually, demand for real estate will pick up as developers reduce prices,” said the executive. Property prices are already down and are expected to fall further.

Rating firm Moody’s recently said property developers would face a challenging environment in the next 12 months. In Mumbai, unsold property stock worth Rs 1,00,000 crore is stuck with developers. The credit ratings of Piramal Realty’s rival, Lodha Developers, were downgraded by Moody’s and Fitch due to weak operating performance.
______________________________________

Now, what does this mean when they say taking over the project. Does this mean they are taking over residential tower design acquired by DB Realty or just taking over land? This project is really dragging along.
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Old September 20th, 2015, 05:12 AM   #1665
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Taking over the land… will build their own residential highrise.
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Old October 20th, 2015, 01:52 PM   #1666
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stunning
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Old April 29th, 2016, 08:59 AM   #1667
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what is current status of the project ?
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Old October 15th, 2016, 08:51 AM   #1668
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This one is dead in the water looks like.
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Old May 5th, 2017, 09:10 PM   #1669
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SoBo to get two towers with new CRZ norms

Quote:
A prime sea-facing Charni Road plot in south Mumbai will be developed by Pune-based Panchshil Realty, which had earlier partnered with Donald Trump to build Trump Towers in Pune.
The 2.2-acre land belongs to Marine Drive Hospitality and Realty, part of DB Group headed by developers Vinod Goenka and Shahid Balwa. Jinxed for a decade, a plan to construct India's tallest luxury hotel on the land, the 125-storey Park Hyatt, was cancelled after DB Group found no demand for a hotel in that area.
TOI learnt that Panchshil will soon sign a project management agreement with DB to build two 60-storey residential towers. Atul Chordia of Panchshil and Goenka refused to comment.
http://timesofindia.indiatimes.com/c...w/58541206.cms
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Old May 5th, 2017, 09:54 PM   #1670
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That one is not India Tower. The India tower was located in Marine Lines about a station away from Charni Road.
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Old May 5th, 2017, 10:07 PM   #1671
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Someone please close this thread. The nostalgia of this thread just hits you so bad. What a joke of a bureaucracy and real estate developer. A single biggest humiliation for the citry was the "construction" and death of this project.
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Old May 6th, 2017, 02:13 AM   #1672
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SoBo to get two towers with new CRZ norms

Plan To Build Tallest Hotel Was Cancelled.

A prime sea-facing Charni Road plot in south Mumbai will be developed by Pune-based Panchshil Realty, which had earlier partnered with Donald Trump to build Trump Towers in Pune.
The 2.2-acre land belongs to Marine Drive Hospitality and Realty , part of DB Group headed by developers Vinod Goenka and Shahid Balwa.Jinxed for a decade, a plan to construct India's tallest luxury hotel on the land, the 125storey Park Hyatt, was cancelled after DB Group found no demand for a hotel in that area.

TOI learnt that Panchshil will soon sign a project management agreement with DB to build two 60-storey residential towers. Atul Chordia of Panchshil and Goenka refused to comment.

Panchshil, through the law firm Wadia Ghandy , recently issued a public notice to investigate the land title.According to the agreement, Panchshil will develop and market the property and receive a percentage of the profits (around 15%). Panchshil will construct the four lakh sq ft built-up area at an estimated cost of Rs 10,000 a sq ft.

DB Group had been scouting for a partner to develop the plot for the past few years.It was earlier in talks with Mumbai-based developer, Sheth Creators, to jointly develop the land.

Two years ago, Piramal Realty , an Ajay Piramal gro up company , was in talks with DB to take over the project for close to Rs 1,000 crore.

DB acquired the plot near S K Patil Udyan in Charni Road in 2005 from Suresh Estates Pvt Ltd.

In 2011, BMC issued a stopwork notice to the hotel project for failure to pay Rs 200 crore in arrears. It charged a premium for building concessions the developer had sought. DB challenged it in court.

One of the biggest beneficiaries of the state coastal body's decision to designate Backbay in south Mumbai as a “bay“ instead of a “seafront“ is believed to be this prime sea-facing plot.

The land falls under the coastal regulation zone (CRZ), which had put restrictions on its development. Till 2011, CRZ norms had limited construction activity up to 500 metres from the sea's high tide line. But an amendment that year reduced the minimum distance for construction activity near a bay from 500m to 100m, while retaining the old protection for seafronts.



Times of india epaper
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