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Carmichael Road, Mumbai | Leading location is perhaps the most expensive residential real estate location in India: Carmichael Road, Mumbai. The area comes in at an average price of 1.5 lakh rupees per square foot, with ultra-luxury projects such as Antilla, The Imperial, Lodha Altamont and Raheja One Altamount to check Ivy League status. When hosting names like Mukesh Ambani and Kumar Mangalam Birla among others, it is no wonder then that Carmichael Road and its extension into Altamount Road are referred to together as Billionaire Row in India. (Photo: Reuters)
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Malabar Hill, Mumbai | Not far from and overlooking the picturesque curve of Mumbai’s Marine Drive is Malabar Hill, with JLL data indicating a market rate of anywhere from Rs 1.25 to Rs 1.5 lakh per square foot. While the neighborhood may not have the same exclusivity associated with Carmichael Road or the Altamount, its prominence in the south of south Mumbai is a huge draw in establishing itself as a first class real estate location. The district hosts India’s most famous investor, Rakesh Jonghunwala. (Photo: shutterstock)
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Lutyens, New Delhi | As far as expensive real estate goes from the Ivy League in Delhi, there is no look further than Lutyens. Hosting notable families including Mittals and Jindals, the interesting irony of this neighborhood is that it simply isn’t available in the primary real estate market, anymore. After all, Lutyens is a specific bureaucratic district that houses the prime minister, his cabinet, ministers of state, and 10 embassies, which means that construction in the area is off-limits – another factor that adds to its exclusivity. According to JLL data, Bungalows here, when sold in the secondary market, are reported to have bids of Rs 300 crore per home. However, according to reports, there was an example of a larger storey house of over Rs 476 crore, which saw the neighborhood valued at Rs 63,000 per square foot. (Photo: shutterstock)
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The Boat Club and Boyce Garden, Chennai | Notable Chennai neighborhoods, Boat Club and Poes Garden, are not far from prime real estate locations in the Ivy League of India. According to JLL data, both sites come at a price between Rs 32,000 and Rs 35,000 per square foot. The Boat Club Road is an exclusive residential oasis in South Chennai, where sprawling bungalows and luxury apartments speak to a lot of the prestige that comes with owning it. Located in the heart of Chennai, Poes Garden has earned a legendary status for being the long-standing private residence of former Tamil Nadu Chief Minister, Jayalalithaa. Both locations do not lack prominent names as residents. In the Boat Club, the Maran brothers – Member of Parliament Dayanidhi, and Sun TV Chairman Kalanithi Maran – own a luxurious bungalow, and India’s chief neighbour, Cements N Srinivasan. Down the road is the home of Sunita Reddy, the general manager of Apollo Hospitals. Poes Garden hosts star Rajinikanth who used to be neighbors with The Late J Jayalalithaa. Cricketer Dinesh Karthik lives in the same neighbourhood. (Photo: shutterstock)
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Koramangala 3 Block, Bengaluru | Like Mumbai, did you know that Bengaluru also has its own billionaire street? For what it’s worth, Koramangala 3rd Block is as real as high-end Bengaluru properties can get. From Infosys founders Nandan Nilekani and Kris Gopalakrishnan, and Narayana Hrudayalaya Chairman Dr. Devi Shetty, to Bansals of Flipkart, Bengaluru’s list of billionaires have invested in Koramangala real estate for their own home. It’s also helped that the neighborhood has old huts and quiet roads, with plenty of green coverings to retain some of the charm of old Bengaluru amid a bustling city. No wonder, then, that the cost of the area is 60,000 rupees per square foot for a villa. Sachin Bansal coughed about Rs 45 crore for two apartments in the neighborhood after selling Flipkart, while Binny paid around Rs 32 crore for a 10,000 square foot property here. Two apartments are reported in Gopalakrishnan in Koramangala with a combined value of Rs 76 crore. (Photo: Wikimedia Commons)
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Jubilee Hills, Hyderabad | If you’re in Hyderabad, the addresses can’t be better than Jubilee Hills. The neighborhood feels like Beverly Hills thanks to its spiraling avenues, along with cottages that try to outdo each other in terms of sprawl and design say opulence and luxury unparalleled. Jubilee Hills also plays itself into the old adage that real estate is all about location – finding itself in the center of the modern Hitec city of Hyderabad and the old money of Banjara Hills. Due to the perfect storm for all things wonderful about real estate, the property market on the site is not swaying with a price close to 22,000 rupees per square foot for a luxury apartment here. It also helps prominent Telugu and South Indian movie stars like Akkineni Nagarjuna, Allu Arjun, Chiranjeevi, Vijay Devarakonda and Prabhas to own homes in this neighbourhood. (Photo: Wikimedia Commons)
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Honorable mentions | While the Ivy League of Indian Real Estate may have spread its wings and value across the title lines it has now made, a second tier of real estate affluence is already in the making. This is especially true in South India where market prices in areas such as Richmond Town in Bengaluru are 35,000 rupees per square foot with apartments and bungalows comprising the city’s old money community. Also in Hyderabad, Gandipet and Kokapet have villas in the range of Rs 25,000 per square foot with lots of premium developments and large floor slabs which is the most prominent feature of real estate in the area. (Photo: Wikimedia Commons)