CURRENT AFFAIRS

Detailed explanation-1: -Mumbai Ranks at 37th Place Globally in Price Growth in Luxury Housing. Mumbai’s jumped to rank 37 from 92 in a global list of movement in prices of luxury homes as the city saw a gain of 6.4 percent during the 2022 calendar year.

Detailed explanation-2: -Antilia. Owned by Mukesh Ambani, the owner of Reliance Industries, Antilia is not just India’s costliest house but also tops the list of the world’s costliest houses. Situated in one of the most expensive roads in Mumbai, the Altamount Road, Antilia is a 568-foot skyscraper featuring 27 floors.

Detailed explanation-3: -Steady rise in demand for homes boosted realtors’ confidence and egged them on to launch more projects. In 2022, new launches in the top seven cities jumped 42 per cent to over 402, 000 units compared to 278, 650 in 2021.

Detailed explanation-4: -Mumbai, the financial capital of India, is the most expensive real estate market in 2022. The city on the coast of the Arabian Sea that attract millions of immigrants every year from across the country, houses some of the most expensive real estates.