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5 of India's most expensive residential streets

Aseem Gaurav [ Updated 30 Dec 2012, 14:42:05 ]
5 of India's most expensive residential streets
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New Delhi, Dec 28: Some of these locations are being considered as super-prime property markets where the country’s ultra-wealthy people reside. These streets are home to the fortunate few who can afford to live in Britain's most expensive street. Certainly, it costs a fortune to live in these high profile streets, but it comes with its own pleasures and surprises.



Let’s take a look at top five of India’s richest localities based on the net worth of the billionaires living on them.

Altamount Road

Mumbai

Two of India’s richest industrialists – Reliance Industries chairman Mukesh Ambani and Kumar Mangalam Birla, Chairman of the Aditya Birla Group – live on Altamount Road in South Mumbai. It is also home to several old business families including the Mafatlals, the Khandelwals and the Tatas. Altamount Road is parallel to Peddar Road which it meets at the well-known intersection called Kemp's Corner. It is also home to scores of Bollywood stars.

The residential street has always been popular address among India’s ultra-rich and was 'catapulted into the ranks of the world's most expensive when Mukesh Ambani unveiled plans last year to build a residential apartment block on the street at a cost of around $1 billion.'

Real Estate rates in the area are pegged Rs 60,000 per square feet. Residents say what makes this street so special is not view and the location, but the gentry.

"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,” said a resident.

The star attraction of the road is of course, Mukesh Ambani's 27-storey billion dollar home Antilla. The property - which has three helipads, six floors of parking and a series of floating, as well as a theatre and ballroom. Mukesh Ambani's wife Nita Ambani describes their 27-storey Mumbai house Antilia as a "modern home with an Indian heart" and the "only home we have in the world."

If one were to argue that his residence is actually on Cuffe Parade, then Altamount Road would drop to seventh place, with Kumar Mangalam Birla being the lone billionaire on it with a net worth of $7.7 billion (approx Rs 38,500 crore). The Mukesh effect, combining with the wealth of younger brother Anil and Subhash Chandra of Zee would then propel Cuffe Parade to second place, with a combined net worth of about $31 billion (approx Rs 1.55 lakh crore).





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