Pune to allow high-rise buildings | INRNews
Pune, October 29, 2006 : In a welcome move, the Pune City Improvement Committee (CIC) has decided to allow high-rise buildings with a maximum height of 100 metres. The move will help ease the demand for residential and commercial real estate as developers build higher, and also keep price inflation under control.
The Pune real estate market is growing rapidly, catching the "Tier-II wave", as IT and ITES companies expand to secondary cities, creating strong demand for commercial and office space and consequently residential housing facilities. With land always a scarce resource, allowing developers to "build up" is a necessary solution to ease the supply situation.
According to the CIC proposal, high-rise buildings would be allowed on roads that are at least 30-metres wide. Minimum plot sizes are also required. A building 50-70 metres high can be built on a minimum plot size of 6,000 square metres, while a building 70-100 metres high would require a minimum plot size of 8,000 square metres.
The CIC decision needs to be ratified by the Pune Municipal Corporation and also get state government approval.
By INRnews Correspondent
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