We hope to receive government support for faster clearances of high-rise projects.

- Shrikant Shitole

President - CREDAI MCHI-KDU & Managing Director, Tycoons Group

How do you look at the demand trend for high-rise buildings in residential and commercial segments?

There is a dearth of land availability for residential and commercial property construction, however despite this, Mumbai city especially prime locations in South Mumbai are in demand for high-rise building construction due to its scenic view advantages. Earlier, the construction of high-rise buildings was limited due to technical limitations, however now with the technological advancement in the construction industry, it has become more viable to construct high-rise buildings. The high-rise construction also provides an opportunity to create more amenities on the ground due to the minimised footprints. Innovative and efficient planning is the key for upcoming developments with given high density FSI availability in the projects.

For a developer's perspective, what are the major challenges faced in the construction of high-rise structures?

The high cost of construction due to added requirements of fire, parking provision, STPs etc provided due to high density FSI, the positioning of high-rise towers amongst the affordable housing category and challenges in repairs and maintenance are some of the major challenges faced by the developer in case of the construction of high-rise structures.

How does technology play a key role in high-rise building construction?

Technology has played a pivotal role in the development of high-rise structures with an introduction of advanced construction technologies in civil structures like aluminium formworks, steel structures etc which helps in speed up the construction and complete projects in given timelines. The higher the structure goes; more is the need to withstand the lateral forces imposed by winds and potential earthquakes. In this case, with technological advancement, the structures have gained better efficiency and durability.

What is your view on the smart features in high-rise structures?

The technological advancements and smart features are the ones that make a difference in high-rise structures. These features contribute to the quality of high-rise buildings with a better vertical transportation system to save on time, better lighting, security and others. Without such smart features, even a luxurious high-rise building offering scenic views and serenity would simply end up being just a brick & mortar structure.

How do you look at policy support from the government in the construction of skyscrapers?

We hope to receive support from the government in terms of faster clearances for high-rise projects and providing better infrastructure. The government should address the demand side by maintaining stable housing interest rates. We also expect the input tax credit on GST to be allowed, ie., efficient tax structure needs to be defined to boost demand and increase financial viabilities of the projects.

What is your outlook on the high-rise buildings sector in the coming years?

We expect that the scarcity of land in the  city centre and rising demand for high-rise structures would increase demand for skyscrapers in the coming years. New policies like UDCPR has enhanced FSI policy structure, wherein density of FSI has increased on the same plot and thus high-rise projects are inevitable in places like MMR.

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