Tardeo India’s costliest residential site

New Delhi, September 8

South Mumbai’s Tardeo is India’s costliest residential location, commanding a staggering Rs 56,200 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.

Anarock has compiled a list of top 10 most expensive residential locations in India in the primary market that consists of new properties launched by builders and excludes re-sale ones.

“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 Rs 56,200 per sq ft,” Anarock Chairman Anuj Puri said.

Tardeo, also known as Tardeo Road, is a very prominent residential and commercial location in South Mumbai. It enjoys excellent connectivity and is largely self-sufficient with high-grade educational and healthcare institutions as well as hotels and fine dining restaurants, the report said.

Chennai’s Nungambakkam ranks fourth with an average price of Rs 18,000 per sq ft, while Egmore ranks fifth with Rs 15,100 per sq ft rate. Anna Nagar is at the seventh place with price of Rs 13,000 per sq ft.

Delhi’s Karol Bagh is at the sixth position with average price of Rs 13,500 per sq ft, while the Golf Course Road in Gurugram, Haryana, is ranked ninth, carrying an average price tag of Rs 12,500 per sq ft.

Pune’s Koregaon Park ranks eighth on the list, while Alipore in Kolkata comes in at the 10th spot. The average prices for luxury homes in these two micro-markets are Rs 12,500 and Rs 11,800 per sq ft, respectively.

Anarock added that no localities in Bengaluru or Hyderabad figured in the top 10 list. — PTI