Mumbai ranks 22nd in the Global Prime Cities Index

Knight Frank, a property consultancy based in London, has ranked Mumbai 22nd in a global index that measures the annual price appreciation of premium residential properties. According to Knight Frank's Prime Global Cities Index Q3 (July-September) 2022, all three Indian cities saw an increase in average annual prices in the third quarter of 2022: Mumbai, Bengaluru, and New Delhi. The prime global cities index is a valuation-based index that tracks the movement of prime residential prices in local currency in 45+ cities around the world. Mumbai rose to 22nd place in the third quarter of 2022, from 39th place the previous year. Meanwhile, Bengaluru's ranking improved to 27th from 41st, and New Delhi's ranking improved to 36th from 38th. Also read: Kolte Patil Developers approves merging with Tuscan Real Estate Work on Varanasi-Ranchi-Kolkata expressway to begin in Jan