This may arguably be the most expensive and tallest private residence ever built.
Indias wealthiest man, Mukesh Ambani, 50, is slated to begin construction of a billion dollar glass and steel skyscraper home in Mumbai City, the financial capital of India. The 27 story building will be designed to house his family of six and staff of 600, with six floors dedicated to the storage and parking of Ambanis 168 automobiles. The top four floors will be set aside for family living.
Ambani is estimated to have a personal wealth hovering at $21 billion, making him the 14th richest man in the world, and the most visible man of wealth in India.
That wealth will also provide Ambani and his family with a full-service spa, fully-equipped gym, multiple floors set aside for visiting guiests and a home theater that can only be imagined.
Completion is estimated to take place in the Fall, 2008.
A tip of the top hat to The Guardian.
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Mumbai, India’s financial capital is one of the most expensive places in the world to buy a condominium unit, according to a Global Property Guide survey.
Apartments in South Mumbai cost around US$9,000 to US$10,200 per square metre. “Such stellar prices can only be found in the world’s leading cities,†says Yasmin Rahman, yields and valuation analyst at the Global Property Guide.
Property prices in other cities in India are significantly cheaper than in Mumbai. In New Delhi, the administrative capital, used apartments cost around US$2,000 to US$3,000 per sq. m. In Bangalore, India’s Silicon Valley, prices are around US$950 to US$2,000 per sq. m
Read more : http://diggindianews.com/IndiaNewsPolitics/Bombay_today-_How_costly_is_Mumbai-/
Pooja:
Thanks for the fascinating information about real estate in Mumbai, India–as well as real estate pricing information for New Delhi and Bangalore. We keep reminding ourselves in the US that “real estate is local.”
It is also global– and real estate markets in the world’s leading cities are very competitive in pricing.
Thanks for stopping by!