Tardeo in South Mumbai is the most expensive residential locality with a price of Rs. 56,000 per sqft average rate for residential units in the Indian real estate an industry expert said. After this, Worli and Mahalaxmi that fall under the Mumbai Metropolitan Region (MMR) are ranked at second and third positions with an average unit price of Rs. 41,500 and Rs. 40,000 per sq ft, respectively.
A real estate firm listed the top 10 most expensive residential locations in India that include new properties launched by developers. However, the resale properties didn’t find place in this list.
An industry expert said that South Mumbai’s Tardeo is India’s most expensive residential location in the primary residential real estate market. Property here comes with an astronomical price tag of INR 56,200 per sq ft.
Popular as the Tardeo road, this locality is a premium and major residential and commercial location in South Mumbai. The area has smooth connectivity and has multiple reputed educational institutions, healthcare centres and restaurants.
Following the list is Chennai’s Nungambakkam that is positioned at number four with an average price of Rs. 18,000 per sq ft and then is Egmore at number five with Rs. 15,100 per sq ft rate.
Delhi’s Karol Bagh secured the sixth position with an average unit price of Rs. 13,500 per sq ft. However, the Golf Course Road in Gurugram, with an average unit cost of Rs. 12,500 per sq ft came ninth on the list.