Pune, India: Pune’s tallest building is being demolished after years of neglect and neglect is set to be demolished this year, after the city government decided to give the project a new lease of life after the owners sold the building to a private developer.
The building is a 20-storey, five-story office building with two towers, one on the ground floor and one on a rooftop.
In its place will be a 20 storey residential and office building, with an attached commercial complex on the same level.
The owners of the building sold it to a group of developers who have now moved in, and the building will be completely renovated.
The owners said the building had been neglected and needed a lot of work.
“The building has been in a state of disrepair for a long time.
We wanted to build a high-end residential building that would be attractive to the local community,” a spokesperson for the group told The Hindu.
“We were also planning to build another building on the top of the existing building and have been planning that.
But the land sale has taken us back to the drawing board,” the spokesperson added.
When the building was first completed in 1999, the owners said it would be the tallest building in the world.
It stood above the Pune city centre at an elevation of 8,715 feet.
A group of private developers, led by Anil Kumar, bought the building in 2006 for an undisclosed sum.
In 2010, the city of Pune passed a law giving it a 10-year lease on life.
But in December last year, a new group of builders sold the property to Anil and his brother-in-law, Dhananjay Mishra, who then sold the remaining 25 per cent of the value of the property, which is estimated to be $1.3 billion.
While the owners and Mishra have kept mum about what happened to the remaining 10 per cent, the development company which bought the property has now put up the proposal to demolish the building.
The developers have already started the demolition process, and they will be putting up a final bid at a later date.
On Friday, the developer’s team presented the final plans to the city’s Planning Commission, which will then take a final decision on the demolition.
Dhananjay Mishra told The Times of India that he was surprised by the demolition decision, given that the building has not been in disrepair.
He said the owners did not want to put up a bid because they did not believe the city had any intention of keeping it up.
“We had no intention of making the building any bigger.
The reason is because it has not done anything for a very long time,” he said.
“We wanted to make it a high end residential building and we didn’t have any other option.”
The developers said the decision to demolise the building came from the planning commission.
“The decision to dispose of the premises of the old building was taken by the Planning Commission after the planning department had given a recommendation to dispose the building,” Mishra said.
‘The building was in a terrible state’: Developers have given a final proposal to build the building’s next phase on a new site.
“It was a sad day for all Pune residents,” said Jasprit Bhattacharya, an architect who was involved in the development.
This is a huge project for Pune.
I think the city has made the right decision.
“We have given the proposal for a residential building on a site adjacent to the old one and we want to bring this project to fruition,” said Bhattocharya.
According to the developers, the demolition of the entire building will not affect the existing buildings.
“There will be no damage to existing structures in the vicinity of the new building,” they said.