Inflation and rising property costs pose substantial hurdles for anyone looking to create their dream houses in India. Even after obtaining land, many people struggle to realize their dreams. Unsurprisingly, there are some residential locations in the nation where property values have surged to heights that even wealthy billionaires find difficult to invest in. This article goes into the most costly residential regions in India, focusing light on the high expenses and problems that prospective investors confront.
Most Expensive Residential Area in India: Unveiling the Top Picks
According to 99 Acre, several areas stand out as the most expensive residential zones in the country, where the price of land per square foot is staggering. Let’s explore some of these opulent neighborhoods:
- Golf Links, Delhi:
- Price: Rs 1.62 lakh per square foot
- Described as one of the poshest areas in Delhi, Golf Links commands an exorbitant property rate, making it challenging even for the affluent to invest.
- New Alipore, Kolkata:
- Price: Rs 76,900 per square foot
- Known for its upscale living, New Alipore in Kolkata boasts high land prices that make it a sought-after yet financially demanding residential area.
- Malabar Hills, Mumbai:
- Price: Rs 75,742 per square foot
- Located near the sea, Malabar Hills in Mumbai reflects exclusivity with steep property rates, presenting a considerable challenge for potential investors.
- Banjara Hills, Hyderabad:
- Price: Rs 72,000 per square foot
- The property market in Banjara Hills is formidable, making it nearly impossible for the common man to purchase real estate at the prevailing rates.
- Tardev, Mumbai:
- Price: Rs 52,000 per square foot
- With property rates soaring, acquiring a 2 BHK flat in Tardev, Mumbai, could require an investment ranging from Rs 3 to 4 crores.
- Sadashiv Nagar, Bengaluru:
- Price: Rs 46,500 per square foot
- Home to billionaires, Sadashiv Nagar in Bengaluru boasts soaring property rates, underscoring the exclusivity of this residential enclave.
These data highlight the difficulties that people, even those with significant financial resources, experience when attempting to purchase property in India’s most costly residential neighborhoods. As property prices continue to climb, remaining educated about market trends becomes more important for making sound investment choices. Stay tuned for more banking-related news and updates.
Source: 99 Acre
