Altamount Road Ranks Among World's Top 10 Most Expensive Addresses
Altamount Road, a historic neighborhood in Mumbai, has secured a spot on the list of the world's ten most expensive addresses, according to a survey by Wealth Bulletin, a UK-based online news service. Residents of this prestigious area believe the recognition is well-deserved.
"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 Falguni Patode, a resident of Altamount Road.
This upscale residential area is home to established business families, including the Mafatlals, Khandelwals, and Tatas. It's also the site of Mukesh Ambani's in-development, multi-million dollar skyscraper, Antilia.
Real estate prices in Altamount Road are estimated at Rs 60,000 per square foot.
What sets Altamount Road apart?
"Apart from the view and the location, it’s the gentry," explained Pranay Vakil, Chairman of Frank Knight.
Challenges to the neighborhood's charm
Despite its prestige, Altamount Road faces its share of issues. Increased construction activity and limited parking space pose a threat to the neighborhood's tranquil atmosphere. The hope remains that Altamount Road will retain its newfound distinction amidst these ongoing urban developments.