Mumbai : World's first US$1b home
World's first US$1b home
Oct 15, 2010
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Mukesh Ambani retained his title as the richest Indian for a third year in 2010 with a worth of 27 billion dollars.
PHOTO: AFP
NEW DELHI - INDIA'S richest and world's fourth richest man, industrialist Mukesh Ambani, has built what is claimed as the world's first billion-dollar home - a 27-storey luxury residence in Mumbai, said media reports.
The chairman of Reliance Industries, whom Forbes magazine forecast to be the world's richest person by 2014, is all set to move into his mansion, named Antilia, after a mythical island, by the end of this month, local media reported on Thursday.
Constructed in Mumbai's downtown Altamount Road, the palatial building took seven years to complete. It has three helipads on the top floor, a swimming pool, a health club, a ballroom, a salon and a mini- theatre.
The first six levels of the glass tower, which stands about 174 metres, has a garage where more than 160 cars can be parked and has nine elevators, the reports said.
On the top floors of the house, with a sweeping view of the city and out over the Arabian Sea, are quarters for the 53-year- old tycoon and his family of four.
Towering above the Mumbai skyline, the 37,000sq ft tower is more than the Palace of Versailles in France. To keep things running smoothly, there is a staff of 600.
straitstimes.com
Indian millionaire could loose home.
27-storey tower built on land 'earmarked for children's education'
By DAILY MAIL REPORTER
Last updated at 9:42 AM on 3rd August 2011
India's richest man could lose his 27-storey family home - thought to be the world's most expensive - because of claims the land was sold illegally.
Mukesh Ambani is facing a federal probe into the construction of his luxury £615million tower block on Mumbai's Arabian seafront because government ministers claim the plot had been reserved for the education of Muslim children.
The land was sold to Mr Ambani by the Currimbhoy Ebrahim Koja Orphanage Trust for £3million (215million Indian rupees) in 2002.
The deal was approved by the Mumbai Charity Commissioner.
But Mahammed Arif Naseem Khan, the Maharashtra Minority Affairs and Wakf minister, said the deal was not given the green light by the Maharashtra State Wakf Board, which looks after property or land reserved for religious or charitable purposes.
Glitz and glamour: Crystal chandeliers take up most of the ceiling in the ballroom. There is also a stage for entertainers and a kitchen which can serve hundreds of guests
Fine rugs, chandeliers and mirrors feature heavily in the numerous sitting areas lthroughout the building
The Board has now launched legal action to recover the 48,782 square foot site.
ND Pathan, its chief executive, said neither the children's charity nor the charity commissioner were authorised to allow it to be sold.
Mr Khan said: 'We have appointed an inquiry commission to investigate the matter and the probe is still on.'
He added that a decision on whether to call in India's Central Bureau of Investigation would not be made until the current inquiry had been completed.
Extravagant: The 27-storey property towering over Mumbai. It features three helipads, a swimming pool and a four-floor hanging garden
Tycoon: Mukesh Ambani, who owns much of oil and retail giants Reliance Industries, paid £44million to build the property
Each floor of the tower is made from different materials to give an individual look. Numerous powder rooms and reception areas lead off the lobby which has nine elevators
Mr Ambani, the chairman of Reliance Industries and the world's ninth richest man, with an estimated worth of £16billion, moved his wife and children into the 570ft tower last year.
The property, called Antilia, has three helipads, six floors of parking, a ballroom, several swimming pools and a 50-seat cinema.
The dispute over the sale, a widespread problem across India and particularly in big cities like Mumbai where land is scarce, has been rumbling since 2004 when the Wakf board asked Mr Ambani why the land should not be returned to the charity.
The opposition leader in the state assembly, Eknath Khadse, of the Bharatiya Janata Party, claimed that the plot was actually worth five billion rupees.
A Reliance Industries spokesman said that the matter was between the Wakf board and the orphanage and had nothing to do with the company.
He said: 'It was always the property of the Wakf. The orphans living at the home were moved to another property at the time of the sale.'
Read more: Billionaire Indian tycoon's £615m home could be seized over claims the land was sold illegally | Mail Online
