Mumbai colony: 10th most expensive address in world

Mumbai: An old Mumbai neighbourhood has made it to the list of the World's ten most expensive addresses.

A survey conducted by Wealth Bulletin, a UK based online news service has named Altamount Road, as the tenth most expensive street address in the world and the residents believe the honour is fully justified.

"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,” says Resident, Altamount Road, Falguni Patode.

Altamount Road is one of Mumbai's most posh residential areas and is home to several old business families including the Mafatlals, the Khandelwals and the Tatas.

It is also the location for Mukesh Ambani's upcoming multi million-dollar skyscraper Antilia.

Real Estate rates in the area are pegged Rs 60,000 per square feet.

However, what makes Altamount Road so special.

"Apart from the view and the location, it's the gentry,” says Chairman, Frank Knight, Pranay Vakil.

But things are changing in this quaint neighbourhood. Rampant construction and lack of adequate parking space threaten to erode its old world charm. It can only be hoped that Altamount Road manages to hold on to its newly acquired distinction.