Hyderabad: The historic Charminar might soon lose its status as Hyderabad's most famous structure.
The state Industrial Infrastructure Corporation has given the final nod to the city's skyscraper zone, and a landmark building, to be located in a 100-acre Business District in Manchirevula near Hyderabad.
"In the area that the building is coming up, the minimum height of a building should be 30-storeys. The building that we are making will be 100-plus storeyed building surrounded by a series of 10-12 30-storeyed towers. It will be a compact business district like Manhattan or Nariman point," said APIIC Vice-Chairman, B PAcharya.
The proposed Trade Tower will house corporates, hotels and other establishments. 22 international players participated in the recently-concluded bidding process.
"We have kept very stiff pre-qualification norms and 10 were finally selected in the pre-qualification round. Ultimately two parties have responded and we are going to finalise them shortly - one from Israel, one from India," said Acharya.
The APIIC had initially proposed to build 60-floor twin towers. Teams were sent to study the Petronas Towers in Kuala Lumpur, Sears Towers in Chicago and high-rise buildings in Dubai.
Based on their reports, a single trade tower was approved. At present, the 16-storey Babu Khan Estate, built in 1987, is the tallest commercial building in Hyderabad followed by the 13-storeyed Haj House.
Since the proposed trade tower will be located in the skyscraper zone, getting clearances from the municipal and fire services authorities will be just a formality.
According to the APIIC, the construction of the trade tower will start by July this year and it is likely to be ready in the next three years.