The Delhi-based Brys Group on Monday announced plans to develop a 300-meter residential tower in Noida. The company reports that the building will cost INR10 trillion (US$186 million) and feature 285 apartments and villas and will be built in nearly four years.

"Land is a fast shrinking commodity and there are issues related to acquisition as well. Vertical development is the only way to create iconic properties," Rahul Gaur, chairman of Brys Group, told local media.

The sizes of the apartments will vary between 3,000 and 8,650 square feet.

The units are priced between INR30 million and INR90 million (US$557,000 and US$1.6 million). Construction is scheduled to begin by January.