Real Estate

Delhi, Mumbai, Bengaluru on Knight Frank’s global index of prime residential markets

Anil Urs Bengaluru | Updated on November 19, 2019 Published on November 19, 2019

Delhi, Mumbai and Bengaluru figure in Knight Frank's Prime Global Cities Index Q3 2019. The Prime Global Cities Index has ranked New Delhi as the ninth fastest growing prime residential market in the world, with average luxury home prices in areas such as Greater Kailash, Vasant Vihar, Anand Niketan, Defence Colony and Green Park rising 4.4 per cent year-on-year in the third quarter (Q3) of 2019.

Bengaluru (2.1 per cent ) and Mumbai (0.8 per cent) were ranked 20th and 28th on the list, respectively.

While New Delhi and Mumbai have moved up by one and two places, respectively, from 10th and 30th ranks in Q2 2019, Bengaluru has slipped five places from 15th rank in Q2 to 20th rank in Q3 2019.

New Delhi saw a 4.4 per cent rise in the weighted average capital value of prime residential properties to Rs 33,511 per square feet in Q3 2019, while Bengaluru, comprising areas such as Richmond Town, Frazer Town, Sanjay Nagar, Langford Town, Lavelle Road, Vittal Mallya Road, Palace Road, Kasturba Road, Seshadripuram, Richmond Road, M G Road, Ulsoor, Cunningham Road, Infantry Road, Benson Road and St Johns Road, recorded a 2.1 per cent rise in capital value to about Rs 19,709 per square feet.

Mumbai, comprising areas such as Cuffe Parade, Napean Sea Road, Colaba, Lower Parel, Worli, Tardeo, Juhu, Bandra Kurla Complex (BKC), Santacruz (W), Bandra (W), Khar (W) and Prabhadevi, registered a 0.8 per cent increase in average capital value to Rs 64,775 per square feet.

Published on November 19, 2019
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