The WPJ

World's Most Expensive Home Completed, Valued at $1 Billion

Residential News » Residential Real Estate Edition | By Kevin Brass | October 19, 2010 12:17 PM ET



A 27-story single-family residential tower recently finished in Mumbai almost certainly vanquishes all pretenders to the throne of world's most expensive private home, with a price tag estimated at somewhere close to $1 billion.

Built by Mukesh Ambani, the chief executive of Reliance Industries, the home reaches new levels of decadence, with three helipads, swimming pools, four-story "hanging gardens" and a six-story parking garage. Dubbed "Antilla," the 173-meter tall mansion also includes a 50-seat cinema, ballroom, gym and every room is custom designed.

According to published reports, the tower cost $77 million to build, but that only hints at its value. After all, how do you put a price tag on a one-of-a-kind building in a city where every piece of open land is coveted like gold?

Until the Antilla is sold, it's real value is just a guessing game, but it almost certainly eclipses the apartments recently sold in Monaco and London, not to mention Villa Leopolda, the estate on the French Riviera, which fetched a price tag of $500 million (although the deal eventually fell through).




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