South Mumbai tunes into a new luxury housing boom

Not only areas like Altamount Road, and Malabar Hill, but also Gamdevi and Hughes Road are being preferred

- Madhurima Nandy

South Mumbai, the crown jewel of luxury housing that's home to some of the world's most expensive pincodes, is witnessing a record amount of real estate activity as developers race to acquire properties.

All-time high sales of luxury residential units, consistent demand from wealthy individuals including industrialists, C-suite executives, and diamond merchants, and the recent record-breaking sale transactions have prompted realty firms to look at South Mumbai again.

The acquisition spree, which began about two years ago, has gathered pace recently as India's luxury housing market has stayed strong, property analysts said.

Not only marquee South Mumbai neighbourhoods such as Altamount Road, Carmichael Road, Nepeansea Road, and Malabar Hill, but also areas such as Gamdevi and Hughes Road that were overlooked in the past are being eyed for projects.