The Price of Delhi Properties in Comparison of BURJ KHALIFA

Owning an Apartment in Burj Khalifa Cheaper than Owning a Property in Central Delhi

• An apartment on the 100th floor of ‘Burj Khalifa’, the world’s tallest building and one of the most-sought after addresses in the world today, comes at a price of Rs 38,000 per sq ft. But if you think that’s a soaring price, consider this: desi realty rates beat that by a mile. The rates of apartments on Prithviraj Road and Aurangzeb Road in central Delhi are much higher. The per sq ft rate of apartments in Marble Arch and Tata Apartments on Prithviraj Road is around Rs 65,000 per sq ft. Similarly, Ansal apartments on Aurangzeb Road have a price of Rs 55,000 per sq ft, said senior broker Hemendra Sharma.

• In Vasant Vihar and Chanakya Puri in South Delhi, apartments built on smaller plots of 400-800 sq metres are commanding prices of around Rs 45,000 per sq ft. In fact, there are not many luxury condominiums available in central and south Delhi. However, there are several bungalows on independent plots of around three acres with a permitted area of construction of 3500 sq ft to 10,000 sq ft. These plots are commanding a price of Rs 200 crore to Rs 500 crore. So the per sq ft cost of these bunglow comes to a whopping Rs 5 lakh per sq ft.

• Condominiums in Mumbai are even costlier. The per sq ft rate in Mumbai’s NCPA Apartments at Nariman Point is between Rs 90,000 and Rs 1 lakh! Till date, the highest per sq ft rate paid in Mumbai stands at Rs 97,842 for a four-bedroom apartment at NCPA Apartments in 2007. This is the highest rate paid for a residential unit in the history of Indian real estate. In July-August last year, an apartment in Maker Tower B, in Cuffe Parade, sold for around Rs 93,000 per sqft.