MUMBAI, Jan. 21 -- The city's tallest skyscraper is set to come up in place of the landmark National Garage building on Bhulabhai Desai Road near the Haji Ali junction. The building which housed the showroom, located between shopping arcade Heera Panna and Cadbury House, has been razed to the ground to make way for ultra-luxury residences, and the site is currently a beehive of excavation work. Oberoi Realty, the real estate firm constructing the high rise, received the go-ahead for digging the foundation pit a couple of months ago.In October 2023, it had secured a No Objection Certificate from the Airports Authority of India to take the height up to 312.13 metres. Man Infra's Aaradhya Avaan project at Tardeo also has permission to go 312 metres. However, Palais Royale at Worli, pegged as India's tallest building, is yet to achieve its planned 320 metres. According to market sources, the building will have three basements, 11 podium floors, three service floors, an amenity floor, multiple 5-BHK apartments occupying a floor each, and at least four duplexes and a penthouse. Including the two floors each of the penthouse and duplexes, a total of 37 floors of 'limited edition' residences have been planned. Oberoi Realty will have to leave a road setback of 116.82 sq m for future road-widening on the 2,484.13-sq m plot. At least 10,137.16 sq m of construction is likely to take place on the balance 2,367.31 sq m. When approached by Hindustan Times, the builder declined to discuss the project. In February-March 2022, Oberoi Realty had entered into a joint development agreement with the owners of the four-floor National Garage building, the ground-floor car showroom of which made the building iconic. During the last few years, prior to the structure being brought down, the over-50-year showroom dealt in Audi cars. Oberoi Realty, through its subsidiaries and holding companies, acquired the majority of the National Garage building's apartments. Barring two, the balance 15 flats were bought by Encase Realty, Kingston Hospitality & Developers, Perspective Realty and Expressions Realty, all subsidiaries of Oberoi Realty. The commercial portions on the ground floor remain with National Garage owners Jagdish and Mayank Merchant. As per Oberoi Realty's resolution of February 2022, it was decided to enter into an agreement with National Garage for joint development of the property. The building, once ready, will be either at par with or more expensive than Three Sixty West at Worli by the same builder. The Worli residences sold for above Rs 50 crore, one of the last ones fetching the builder around Rs 80 crore. In the next few years, National Garage's neighbour, the iconic Cadbury House, now demolished, will also house high-end residences. Hindustan Times had published a report on two buildings in the works on the plot. In November 2013, diamond merchant Dilipkumar Lakhi had purchased Cadbury House along with its plot for around Rs 350 crore. The first building here will be 19 floors tall while the second will have eight floors. Named after its popular chocolate brand Cadbury, the factory and office were established here in the early fifties when the MNC came to India. The plot also had the company CEO's bungalow. In later decades, due to pollution-related challenges, the factory was moved outside city limits and the building housed the company's management....