Real-time Stock quotes, portfolio, LIVE TV and more.
Oct 31, 2011, 09.56 PM IST
Splurging on a super expensive address seems to be the newest fad for India's billionaires. After Mukesh Ambani's 27-storey Antila, liquor baron Vijay Mallya is building a super luxury penthouse supported by three towers in the heart of Bangalore city. Each tower will have apartments with a price of approx Rs 25 crore.
Splurging on a super expensive address seems to be the newest fad for India's billionaires. After Mukesh Ambani's 27-storey Antila, liquor baron Vijay Mallya is building a super luxury penthouse supported by three towers in the heart of Bangalore city. Each tower will have apartments with a price of approx Rs 25 crore. CNBC-TV18's Sunanda Jayaseelan reports.
Four-and-a-half acres of Vijay Mallya's ancestral home in the heart of Bangalore's central business district will be made into 91 apartments of 8,000 sq ft each. Bangalore based Prestige, which has entered into a JV with Mallya in a 55:45 ratio to build and sell the flats, says each flat will be priced at approximately Rs 25crore.
Irfan Razzack, CMD of Prestige, “It has everything— the look, the feel, the amenities, an infinity pool on the tenth floor, a swimming pool on the ground, an indoor gym, indoor badminton and squash courts, private elevators for each apartment so the residents don't have to bump into each other.”
The best is ofcourse being reserved for Mallya himself. CNBC-TV18 learns the UB Group chairman will have one acre penthouse, on the 34th floor with a gym, a massage parlour, an indoor heated swimming pool, a salon and a helipad.
CNBC-TV18 also learns his family, including his son Siddhartha Mallya, his daughters and his wife will have separate apartments for themselves below his palatial mansion.
And unlike Ambani's Antila which seems to have reportedly run into bad vaastu, Mallya has taken no chances.
Farook Mahmood, director of Silverline Realty and president, Bangalore Realtors Association says, “Every apartment, both Mallyas and all other apartments are vaastu compliant.”
The country's super rich seem to have taken the bait. Prestige says that the apartments which will be ready in early 2014 have already been sold out.
Tags: Bangalore, Vijay Mallya, Sunanda Jayaseelan, Irfan Razzack, Prestige, UB Group, Siddhartha Mallya, Farook Mahmood, Silverline Realty, Bangalore Realtors Association
Jun 19 2013, 23:15
- in MARKET OUTLOOK
Jun 19 2013, 12:44
- in MARKET OUTLOOK