SUMMARY
South Mumbai's Tardeo is India's costliest residential location, commanding a staggering Rs 56,000 per sq ft average rate for homes available in the primary real estate market, according to property consultant Anarock.Worli and Mahalaxmi in Mumbai Metropolitan Region (MMR) are placed at second and third positions with average housing prices of Rs 41,500 and Rs 40,000 per sq ft, respectively.
By Pradeep Suresh Sept 9, 2019 3:41:32 PM IST (Updated)
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1: Topping the list is South Mumbai's Tardeo commanding a staggering Rs 56,000 per sq ft average rate for homes available in the primary real estate market. On average, the built-up size of units ranges anywhere between 1,690-3,500 sq. ft. (Image: Wikimedia Commons)
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2: Another Mumbai locality Worli comes second with average housing prices of Rs 41,500 sq ft. In terms of property typology, 2/3BHK apartments dominate the property spectrum in the top two localities. (Image: Wikimedia Commons)
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3: Mahalaxmi in Mumbai Metropolitan Region (MMR) is placed third with an average housing price of Rs 40,000 per sq ft. Besides the highly aspirational SoBo label, many luxury projects in these expensive markets offer unrestricted views of the racecourse and eastern sea views, premium amenities - and privacy, which is arguably the biggest luxury in India's most congested city. (Image: Wikimedia Commons)
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4: Chennai’s Nungambakkam ranks fourth with an average price of Rs 18,000 per sq. ft. In addition to mainstay luxury amenities, luxury developers now market their projects as a new standard of sustainable and even with organic living. (Image: Wikimedia Commons)
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5: Egmore, another locality in Chennai ranks fifth with average prices at Rs 15,100 per sq. ft. A significant percentage of premium projects in these markets come with an organic vegetable gardens, organic café, herb garden, and so on. (Image: Wikimedia Commons)
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6: Karol Bagh in Delhi comes in sixth in the list of most expensive luxury residential destinations, with an average price of Rs13,500 per sq. ft. Some of the projects come with roof-top cafés with spectacular views, observatory decks, restaurants, spas and various other luxury accoutrements. (Image: Wikimedia Commons)
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7: Another Chennai locality to make it to the list is Annanagar, with an average price of INR 13,000 per sq. ft. Interestingly, the average built-up size of the premium units in Chennai is about 17 percent larger than those in Mumbai. In Chennai, luxury apartment sizes are in the range of 2,190-2,890 sq. ft. (Image: Wikimedia Commons)
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8: Pune's Koregaon Park ranks eighth on the list with an average price of Rs 12,500 per sq. ft. (Image: Wikimedia Commons)
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9: NCR’s Golf Couse Road ranks ninth in the list of most expensive luxury residential destinations, with an average price of Rs 12,500 per sq. ft. The locality along with Karol Bagh recorded an aggregate supply of 5,630 luxury units since 2013 till date. (Representational Image: Wikimedia Commons)
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10: Alipore in Kolkata ranks tenth with an average price of Rs 11,800 per sq. ft. No localities in Bangalore and Hyderabad make it to the top 10 list.(Image: Wikimedia Commons)
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