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<ul><li>Buying a house is becoming more and more expensive, as the metro cities are becoming crowded. </li><li>ANAROCK, a property consultancy firm, shared the list of top 10 most expensive location in India to buy a house. </li><li>The most expensive place to buy a house is Mumbai's Tardeo where a square foot of land can foot a bill of ₹56,200. </li></ul>The financial capital of India is also home to the country’s most priciest homes and pin codes. South Mumbai's Tardeo was declared most most expensive luxury residential location, which costs an enormous ₹ 56,200 per sq. ft. according to a property consultant ANAROCK. It means an average home in Mumbai’s costliest district only start at around ₹ 6.6 crore. Tardeo has three things going for it -- connectivity, connectivity and connectivity. This commercial and residential locality of the rich and the famous, is easily accessible to three key forms of transport — Chhatrapati Shivaji International Airport, Mumbai Central Railway Station and bus stands. Mumbai also snagged the second and third most hyper-expensive luxury housing locations are also in Mumbai. Worli and Mahalaxmi, with per square feet prices at INR 41,500 and INR 40,000 per sq. ft. respectively. And they are also heavily in demand. These two localities recorded an aggregate supply of over 9,600 units since 2013. “Even as India’s middle-class grapples with the prospect of an uncertain future in their careers and financial ability – the main drivers of housing demand – the rise of India’s super-rich continues unabated,” said Anuj Puri, chairman of ANAROCK Property Consultants. The next two super expensive areas are from Chennai and not Delhi as expected. Nungambakkan and Egmore are beyond the reach of most common people, as their per square feet prices are between ₹15000 to ₹20,000 . Anna Nagar also made it to the seventh position. Two of Delhi’s localities like Karol Bagh and Golf Course Road made it to the list however, and so did Kolkata’s Alipore area, along with Pune’s Koregaon Park. It is not surprising to see the growth in expensive homes as the rich increasing in number. According to a Credit Suisse report, there were an estimated 3.42 lakh Dollar-millionaires in India as on mid-2018 who collectively held around $6 trillion. It is forecast that 5.26 lakh Indian dollar millionaires’ wealth will be around $8.8 trillion by 2023. Market fluctuations make very little difference to the personal net worth of these individuals, indicating that they are not beaten by the slowdown like everyone else. See also: <a href="https://www.businessinsider.in/ashok-leyland-joins-the-club-of-no-production-days-as-its-august-sales-fall-by-50/articleshow/71047551.cms">Ashok Leyland joins the club of ‘No Production Days’ as its August sales fall by 50%</a> <a href="https://www.businessinsider.in/We-spoke-to-the-top-recruiters-in-the-booming-cannabis-business-Here-are-their-3-best-tips-for-landing-your-dream-job-in-the-industry-/articleshow/71001356.cms">Want a job? Baroda and Ahmedabad are hiring the most while Mumbai has stagnated</a>

Get ready to shell out ₹56,000 per square foot if you want to stay in Mumbai’s Tardeo area

<ul><li>A third of homeowners on <keyword id="1291598" type="PERSON" weightage="20" keywordseo="Houzz">Houzz</keyword>, a leading <keyword id="1068749" type="PERSON" weightage="20" keywordseo="Home-renovation">home renovation</keyword> platform, prefer to spend on renovation than buying a new house. </li><li>And 97% of them hired a professional including a carpenter, electricians and plumbers for repairs and renovations. </li><li>Over 29% of homebuyers are resorting to smart technologies like home assistants, streaming media players while renovating their home. </li></ul>A third of homeowners prefer to spend on renovation than buying a new house, with annual median expenditure at ₹300,000 in 2018. Further, as many as 26% of the 2500 respondents are mulling over renovating, according to a survey by Houzz — an American home renovation platform that is entering India. Data also showed that 97% of homeowners hired a professional including a carpenter, electricians and plumbers for repairs and renovations. A significant portion of homeowners hired a professional in 2018 (97%), with carpenters, electricians and plumbers in greatest demand (81, 76 and 63%, respectively). Of all generations, Gen Xers are the most likely to hire professional help, though the gap is surprisingly narrow. “Despite a number of headwinds for the global and national economy, renovation activity continued to keep pace in 2018 and will likely experience growth in 2019,” said Sanjay Nadkarni, Country Operations Manager, Houzz India. “Pent up demand continues to be the biggest trigger for renovations today, as homeowners prefer to stay put and invest in the design and functionality of their current home over moving to a different home. ”, Nadkarni added. What are people spending on and how? <table style="border-width: initial; border-style: none; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Sources </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Percentage of people using sources </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Cash/Savings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">81% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Credit Card that can be used anywhere </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Personal loan from friends and family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Cash from previous home sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Construction loan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">6% </td></tr></tbody></table> Over 29% of homebuyers are resorting to smart technologies like home assistants, streaming media players while renovating their home. And cash (81%) was the most used medium to pay for renovation followed by credit cards (14%)and loan from friends (8%) in all age groups. See also: <a href="https://www.businessinsider.in/property-prices-in-three-big-indian-cities-may-fall-due-to-millions-of-jobs-lost-in-the-auto-sector/articleshow/70973886.cms">Property prices in three big Indian cities may fall due to millions of jobs lost in the auto sector</a> <a href="https://www.businessinsider.in/news/mumbai-tardeo-is-the-most-expensive-housing-locations/articleshow/71057943.cms">Get ready to shell out ₹56,000 per square foot if you want to stay in Mumbai’s Tardeo area</a>

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Get ready to shell out ₹56,000 per square foot if you want to stay in Mumbai’s Tardeo area

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Top home renovation trends in India, according to Houzz

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