Re: Manhattan's 'most expensive house' hits rental market for eye-watering $150,000/M
Where the streets are paved with gold
If money screams, wealth whispers. The truth of this adage becomes amply clear as one gazes at Aurangzeb Road in Lutyen's Delhi, a precious stone's throw from the Prime Minister's residence on Race Course Road. With its leafy lanes and elegant bungalows, it's a location that exudes old world charm. It's also India's wealthiest street, according to a TOI study to map the country's richest roads based on the net worth of the billionaires living on them. Steel baron L N Mittal (whenever he is in Delhi), K P Singh of DLF and the Jindals reside here. So do Analjit Singh of Max India group, Malvinder and Shivinder Singh of Religare, Pepsi bottler Ravi Jaipuria and Atul Punj of Punj Lloyd. Their combined net worth adds up to a mind-bending $44 billion or about Rs 2.2 lakh crore. That helps explain why properties here reputedly command a price of about Rs 1.40 lakh per square foot. Don't plan on buying one of those charming houses unless you consider Rs 100 crore small change.
The flocking together of several billionaires helps Aurangzeb Road surge ahead of Mumbai's Altamount Road, which can boast of being the address of two of the richest men in India - Mukesh Ambani and Kumar Mangalam Birla. Still, the combined wealth of the denizens of Altamount Road adds up to a 'mere' $31 billion (about Rs 1.55 lakh crore). However , there's a caveat. India's most famous personal home, Mukesh Ambani's 27-storey Antilia, may be located on Altamount Road, but he is yet to move in. If one were to argue that his residence is actually on Cuffe Parade, then Altamount Road would drop to seventh place, with Kumar Mangalam Birla being the lone billionaire on it with a net worth of $7.7 billion (about Rs 38,500 crore). The Mukesh effect, combining with the wealth of younger brother Anil and Subhash Chandra of Zee would then propel Cuffe Parade to second place, with a combined net worth of about $31 billion (Rs 1.55 lakh crore).
India's financial capital also provides Street No. 3 - the famed Malabar Hill. Boasting the residences of the Ruias of Essar group, reclusive magnate Shapoorji Pallonji Mistry, Adi Godrej and Venugopal Dhoot, the street has a combined net worth of about $30 billion (Rs 1.50 lakh crore), putting it only fractionally behind in the race for second spot. Interestingly , at Rs 75,000/sq ft, an apartment in Malabar Hill actually costs more than the going rate of Rs 70,000/sq ft for multi-storeyed apartments in Altamount Road.
One doesn't have to go too far from India's richest street to reach No. 4 - in fact, barely 2km. Delhi's Amrita Shergill Marg - where Bharti's Sunil Mittal and the Hindujas have their bungalows - has a combined net worth of about $18 billion (Rs 90,000 crore). It offers residents a priceless perk - proximity to Lodi Gardens , where many of India's richest and most powerful can be found networking as they stroll through the breathtakingly beautiful locales. All that can make the prevailing price of Rs 96,000/sq ft seem a bargain - assuming you can afford it.
The list finally moves beyond Delhi and Mumbai to Bengaluru for the fifth richest street - Surjapur - where Azim Premji lives on the Wipro campus. It has a net worth of about $13 billion (Rs 65,000 crore), on the basis of his personal wealth alone, though Jayanagar boasts of more billionaires in N R Narayana Murthy (Rs 8,250 crore) and G M Rao (Rs 8,000cr). Koramangala , too, is home to S Gopalakrishna (Rs 7,100 crore) and Nandan Nilekani (Rs 7,000 crore).
In Chennai, the Boat Club area boasts the maximum concentration of wealth. With Kalanithi Maran and the Murugappa family living here, the combined wealth is valued at $3.5 billion (Rs 17,500 crore) with property prices at Rs 20,000/sq ft for apartments. In comparison, the figure for Kolkata's Alipore area would be closer to $2 billion (Rs 10,000 crore); a flat here would set you back some Rs 19,000/sq ft.
http://articles.timesofindia.indiat...i-s-altamount-road-billionaires-mukesh-ambani
