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National: Luxury isn’t priceless nor cheap

Cities with some of the costliest addresses in India include Mumbai, Delhi and Kolkata. Localities that witness the highest property prices are Luytens Delhi, Altamount Road, Cuffe Parade and Malabar Hills in Mumbai and Alipore in South Kolkata.

 

Property prices in these areas cater to a niche of extremely rich Indians including businessmen, expats and some Non Resident Indians. Some of the leading personalities have their homes in these localities such as Ratan Tata and Anil Ambani in Cuffe Parade, Mukesh Ambani and Kumar Managalam Birla in Altamount Road, to name a few. Property prices in these areas vary between around Rs. 70,000 per square foot to Rs. 90,000 per square foot respectively. It is not surprising that some developers have named projects after these places such as Lodha New Cuff Parade.

 

 

 

While these places surely have a charm, no one can guarantee that these places are not free from problems like traffic congestion and infrastructural set backs. To add to this, exceedingly high property prices are contributory factors while several expats now prefer a condominium lifestyle in different suburbs of cities like Mumbai and regions bordering Delhi such as Gurgaon and Noida.

 

Favista’s view: A number of properties can be chosen from a variety of luxury projects in these cities such as IREO The Grand Arch, IREO Gurgaon Hills, Indiabulls Enigma and DLF Ridgewood in Gurgaon and DB Orchid Heights, Ekta Everglades, Parinee Kyoto, Indiabulls Blu in Mumbai, to name a few.

 

This entry was posted in Gurgaon, Investment, Mumbai, Newsletter, NOIDA and tagged , . Bookmark the permalink.

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