Mar 22 2008
Bombay historically has a supply/demand imbalance around residential property which has led to sky high prices for sub par housing. But lately there has been a lot of construction and hopefully should lead to better pricing…I hope. Click on the image to the left for the full gallery of pics.
One of the areas that I’ve noticed some construction is on Altamount/Carmichael Road. There are a total of 4 large buildings coming up.
Starting from the Kemps Corner entry to Altamount Road, I’ll take you through some of the newest residences coming along the way.
Govind Niwas – Right behind Just Men. The builders are Govind and Sunil Shah.
Chattan Tower – Built by K. Raheja, I’ve seen it called One Altamount and Chattan Bungalow as well, but I believe the final name is Chattan Tower. Rumor has Sameer Gehlaut, of Indiabulls, buying one of the flats at Rs. 1 lakh/sq. feet (USD 2500/sq. ft).
Residence Antilla – Better known as the colossal home of Mukesh Ambani. What more can be said, the building is just massive.
Ispat Tower – Technically the building is on Pedder Road but has access from Altamount Road. The owners are Pramod and Vinod Mittal of Ispat Industries. They are brothers with Lakshmi Mittal of ArcelorMittal.
There is another building being constructed next to Kumar Mangalam Birla’s house, not sure if it will be a 20+ story building or another billionaire bungalow.
Lastly, when walking on Altamount Road you’ll see the 60 story Imperial Tower being built by Shapoorji Palonji and Dilip Thakker. It’s not on Altamount Road or anywhere near it, but it often gets top billing when talking about sky high property prices. I personally believe a lot of it is hype, the entry is from Tardeo and at the moment is atrocious.