A Mumbai Colony Is In The List Of Most Expensive Address In World

An old Mumbai neighborhood has made it to the list of the World’s ten most expensive addresses.
A survey conducted by Wealth Bulletin, a UK based online news service has named Altamount Road, as the tenth most expensive street address in the world and the residents believe the honor is fully justified.
Falguni Patode,Resident,Altamount Road, said, “No where else in Mumbai would you find so much greenery, where you can just look out of your window at a Koyal singing on a Gulmohar tree”.
Altamount Road is one of Mumbai’s most posh residential areas and is home to several old business families including the Mafatlals, the Khandelwals and the Tatas.
It is also the location for Mukesh Ambani’s upcoming multi million-dollar skyscraper Antilia.
Real Estate rates in the area are pegged Rs 60,000 per square feet.
However, what makes Altamount Road so special.
Pranay Vakil, Chairman, Frank Knight, said, “Apart from the view and the location, it’s the gentry”.
But things are changing in this quaint neighborhood. Rampant construction and lack of adequate parking space threaten to erode its old world charm. It can only be hoped that Altamount Road manages to hold on to its newly acquired distinction.

This entry was written by rajani, posted on August 9, 2008 at 2:17 am, filed under Real Estate News and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.

One Comment

  1. vikas bamotra
    Posted August 21, 2008 at 12:44 am | Permalink

    Reality prices are raising very fast in India.

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