In a major transaction in recent times, when realty sales are showing a down trend, a 2,900 sq ft apartment of the British Deputy High Commission at Altamount Road was reportedly sold for Rs 15 crore.
This means the buyer who is said to be the managing director of a leading electric equipment firm has paid Rs 51,724 per square foot for the property.
The price is because of the consulate tag attached to it, said a property expert who confirmed the deal. “Properties that house foreign embassy dignitaries are in great demand and fetch a good price,” the expert said.
Altamount Road is among the most expensive areas in the country and houses several industrialists and official residencies of top bureaucrats in the city.
A famous landmark in the area is Antilia – the residence of Reliance Industries chief Mukesh Ambani. HTC