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The world's most expensive house

April 27, 2004

The world's most expensive house. Photo: Odd Andersen / AFP / Getty ImagesTHE �70-MILLION MANSION: Lakshmi N Mittal, Chairman and CEO, of the LNM Group, has bought a central London house for a stunning price of �70 million ($128.25 million or about Rs 560 crore).

The Non-Resident Indian steel magnate's new house has thus walked into the Guinness Book of Records as the world's most expensive house.

The previous record for the most expensive house was �62.7 million ($114.89 million) for a 1997 sale in Hong Kong. The 12-bedroom mansion located at the prestigious Kensington Palace Gardens has garage space for 20 cars. Bernie Ecclestone, the Formula One racing boss, who sold the house to Mittal, had bought it for his wife three years ago.

The Kensington Palace Gardens houses are dubbed Billionaires' Row. Nearby are Kensington Palace and the London home of the Sultan of Brunei. It is also close to Kensington Palace where Princess Diana lived.

Mittal, whose personal wealth is put at �3.5 billion, is the richest Asian in the United Kingdom. He also owns a �9-million mansion on London's Bishop Avenue, and a house on Delhi's Prithviraj Road which is said to have cost him Rs 40 crore. LNM also has a penthouse at Hyde Park and houses in Surabaya, Indonesia, and in Trinidad.

Photo: Odd Andersen / AFP / Getty Images

Next: King of Steel shows it off

 



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Number of User Comments: 25




Sub: Ignorant

I would like to tell you that this man is not the third richest man in the world, the thir richest man in the world ...


Posted by Aaron





Sub: Wow- one can only wish.

It is a change and great that the worlds third richest man is Indian, but buying what?- 3 or four houses is what I call ...


Posted by Blair





Sub: London House

Its nice to be a tycoon, he earned it and why enjoy. good luck Mr Mittal.


Posted by nickshahani





Sub: what happend to my message

Helloooooooooooooo didn't like the truth.. RAj


Posted by rA=aj





Sub: COmpare with Bill Gates

While most of the rich people are buying mansions and yatchts, Bill Gates sets a different example. His wealth goes for social welfare, AIDS prevention ...


Posted by S




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