Tardeo: PIN for South Mumbai’s high-end real estate market that’s dripping in luxury
Among the most prestigious residential areas in South Mumbai, Tardeo is one of the most lavish and expensive areas. It has always been on top when it comes to the affluent and elite residents of the city surrounded by greenery. Altamount Road in Tardeo is one of those most expensive homes for extraordinary business tycoons in the city why it’s called Billionaire’s Street. Be it Ambani (Antilia) or Jindal (most expensive apartment), and many other industrialists stay here in this posh locality in South Mumbai. It is one of the most expensive locations in Mumbai due to the lack of residential options in the area. Luxury properties here start at an average price of ₹56,200 per square foot. Over the past two years, rents in this micro-market have also increased by 15%. The monthly rent for a luxury house spread over 2,000 square feet in Tardeo area of Mumbai is ₹3.1 lakh, according to a report by property consultant Anarock.
Commenting on its premium quotient, Mr. Jitendra Shah, Managing Director, Rockford Group said, “For most of the city’s ‘old wealth’ and even many of the new wealthy, there is no substitute for an address in South Mumbai. Tardeo is one of those very ambitious parts of the region to live and work in for several reasons. A paradise in itself, Tardeo is home to the most luxurious and expensive residences in India that you can buy or rent. The location continues to see good demand for luxury projects and is attracting very high end individual buyers. The luxury housing market here has performed extremely well, influenced by global lifestyles and growing consumer demand for larger homes with exclusive amenities. The residential market has seen an increase in buyer demand in recent quarters, which has driven prices up nearly 10% year-over-year.
Tardeo is well connected to Nariman Point and Cuffe Parade shopping malls and is a very prominent residential and commercial location in South Mumbai. The locality is aided by public transport at all times and an established social infrastructure. It enjoys excellent connectivity and is largely self-sufficient with top-tier educational and health facilities as well as hotels and gourmet restaurants available.
South Mumbai’s popularity among home buyers is mainly due to the connectivity and amenities it offers. The upcoming Mumbai Metro Line 3, also known as the Colaba-Bandra-SEEPZ Corridor, and the Mumbai Transport Linkage Project (MTHL) are expected to further increase connectivity and propel housing demand in the area.