Mukesh Ambani

World’s Most Expensive Home Being Built in India

May 06, 2008 05:59 PM
by findingDulcinea Staff
by Cara McDonough
What worldwide housing slump? Mukesh Ambani’s 27-story custom home features nine elevators and ballroom full of crystal chandeliers.

30-Second Summary

He’s already the fifth richest man.

But, come January, Mukesh Ambani, whose net worth is estimated at $43 billion, can boast about owning the most expensive house in the world.

Ambani’s custom home is a 27-story skyscraper in downtown Mumbai, India, with a cost nearing $2 billion.

The home, called “Antilla,” differs from other custom homes in that no two floors are alike in plans or materials used.

And then there’s the sheer luxury aspect: the living quarters include several lounges, dual staircases with silver-coated railings, and a ballroom with 80 percent of its ceiling covered in chandeliers.

Ambani’s not the only business tycoon with dreams of ultra-expensive real estate. Last year, Montana developer Tim Blixseth said he planned to build the world’s most expensive home—a 53,000-square-foot complex complete with a private ski lift—but the plans never materialized.

For now, the only private residence that comes close to Ambani’s masterpiece is $70 million triplex penthouse at the Pierre Hotel in New York.

For nonbillionaires, though, pricy new homes aren’t practical in the current housing slump. The Wall Street Journal reports that developers have, in general, “put the brakes on building.”

Headline Link: Ambani’s custom home

Related Topics: The Montana mansion that never was, real estate market decline

Mortgage woes mean trouble for the real estate market

Pictures: The world’s most expensive homes

Key Players: Mukesh Ambani and Warren Buffett, two of the world’s richest men

Reference: Home Building Web Guide


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