Expensive street

·         On August 4, 2008 Altamount Road in Mumbai was named as the 10th costliest in a survey of the world top 10 most expensive streets in the world, while Kensington Palace Gardens (London) got ranked at the fourth place.

·         At Altamount Road  India’s richest person Mukesh Ambani is building a billion-dollar home

·         “The extraordinary 27-floor building, called Antilia, will be as high as a normal 60-floor skyscraper, have elevated gardens and three helicopter pads,”, adding the prices in Antilia were likely to be at least 25,000 per sq mt or even more.

·         It is outranked by over three-times costlier London’s Billionaires Row where steel tycoon Lakshmi Mittal owns three houses.

Mission IAS’2009

·         Kensington Palace Gardens area in West London is popularly known as Billionaires Row.

o        It has been home to Late Princess Diana and NRI-billionaire Mittal owns three houses on this street.

·         Avenue Princess Grace in Monaco has been named at the top with a price tag of $190,000 per square metre.

·         It is followed by Hong Kong’s Severn Road with a price of $121,000 per square metre (sq mt) at second and New York City’s Fifth Avenue at third place ($80,000 per sq mt).

·         Kensington Palace Gardens has made to the fourth place with a price tag of $77,000 per sq mt, while the same for the last-ranked Mumbai’s Altamount Road is $25,000 per sq mt.

·         Other streets ranked costlier than Mumbai’s Altamount Road in the list include Avenue Montaigne in Paris, ranked fifth at $54,000 per sq mt, Moscow’s Ostozhenka (sixth at $40,000 per sq mt), Via Suvretta in St Moritz (seventh at $38,000 per sq mt) and Carolwood Drive in Los Angeles (eighth ranked at $30,000 per sq mt).