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Mumbai will have the world's tallest residential building, nearly half a km in height, by 2014, providing an unhindered view of the city from all sides.

City-based realty group Lodha Developers will collaborate with two New York-based firms to build an over 450 metre residential tower at Worli in south-central Mumbai at a cost of Rs.2,000 crore ($424.67 million), the company said here Tuesday.

'The project has been christened World One and will be built on a 17-acre site at Worli (south-central Mumbai). It will include a 117-storeyed tower, around 1,450 feet, which will be the world's tallest residential building,' the firm's managing director Abhisheck Lodha told media persons here.

The World One complex, which will have two more towers, shall offer 300 exclusive 3-4 bedroom flats, lavish villas with private swimming pools and a few duplex suites.

'The unique 360 degrees curved design will enable all the residents an unrestricted view of entire Mumbai from all sides,' he added.

Lodha Developers has tied up with New York's architectural firm, Pei Cobb Free & Parners, and structural consultants, Leslie E. Robertson Associates, for the prestigious project which will be a landmark in Mumbai.

The construction work on the project will start in a couple of months and it is expected to be completed by 2014, Lodha said.

Each housing unit in the building, which will dwarf the existing tallest residential towers in the world, including even Q1 in Gold Coast (Australia), currently the world's tallest. It will cost upwards of Rs.7.50 crore ($1.5 million), he said.

The flat sales/bookings shall start by June-end.

The complex will offer world-class amenities for the occupants, including a 3-level club-house and spa.

The project is estimated to use over 250,000 cubic metres cement-concrete, 35,000 metric tonnes of steel rebars, 40,000 square metres of glass, 18 high-speed lifts, each travelling at nearly 3 floors per second.

According to Lodha, a significant aspect of the World One project will be rating of Gold Leed Certified Building by the Green Building Council. It will be the only 100-plus storey building in the world to get this coveted certification for its high-level of environmental care.

The key eco-friendly measures it will incorporate are: 100 percent water harvesting and recycling, using VRV air-conditioning and solar energy for common areas and heating, thus slashing electricity consumption by over 40 percent, and waste segregation and recycling.

For the luxurious in-house feel, all the components for the kitchens, bathrooms, living rooms and bedrooms shall come from Germany, Italy, Japan, the US and France.

Lodha said the World One project would give a icon to the vibrant city on the lines of Paris' Eiffel Tower or Kuala Lumpur's Petronas Towers.