Kumar Manglam Birla's Bungalow - The Costliest in India

The iconic Jatia House in Malabar Hill, which was on the block for quite some time, has not only finally been sold, it has set a new record in the process.

The new owner of the bungalow is Kumar Mangalam Birla of the Aditya Birla Group, who bidRs. 425 crore for the property - which has a 25,000 sq ft built-up area - during an auction, making it the most expensive bungalow deal in the country.

 A senior officer from Jones Lang LaSalle, an international consultancy firm which was carrying out the deal, confirmed that the sale has been done and an amount of 10 per cent will be paid by the owner now and the remaining in the coming days.

"The bungalow has a built-up area of about 25,000 sq ft. This is the costliest bungalow sale in the city for now and no such sale of over Rs.s. 400 crore has taken place in the last few years."

While the per sq ft rate comes to about Rs.s.1.7 lakh, experts said using that methodology in case of a bungalow is not advisable as apart from the built-up area, it has various open spaces and also a large parking area. The plot size of the bungalow is 2,926 sq m (about 31,495 sq ft) and it is located at Little Gibbs road, in Malabar Hill.

The bungalow has reportedly been bought for the personal use of Birla, who currently resides in a bungalow on Altamount Road, which is hardly a 10-minute drive from his new purchase. 

Next Costliest Bungalows in India :

• The Maheshwari House in the same area, which went for Rs. 400 crore in 2011. 
• Mehrangir, the house of Homi Bhabha, which is barely a few feet from Jatia House, was sold for Rs. 372 crore in 2014.

The Costliest Houses In India :

The two Ambani brothers own the two most expensive homes in the world.

1. Mukesh Ambani's Residence, Mumbai : Antila, the residence of Mukesh Ambani, is not only the most expensive house in India 2015, but also the most expensive house in the world, with its value reaching an incredible Rs 10000 crore. Occupying an area of 400000 sq foot, Antila is no less than a landmark in Mumbai and is full of all modern amenities, which are even hard to imagine.

2. Anil Ambani's Residence, Mumbai : Anil Ambani is trying to catch his brother even in the race of luxurious home. His new home Abode is said to be  Rs.5000 Crore. 

3. Shahrukh Khan Residence, Mannat, Mumbai : Mannat, the beautiful house of Bollywood super star, is considered as one of the most luxurious homes in the country. The house lives up to the reputation of the super star. It is located in the Bandra locality of Mumbai and is valued at Rs 125-150 crore.

4. Ratan Tata Residence, Colaba, Mumbai : Featuring next on the list of top 10 most expensive houses in India in 2015 is the magnificent bungalow of industrialist Ratan Tata, which is worth Rs 125-150 crore. The three storied palatial house covers an area of 15000 sq feet and has some excellent amenities.

5. Naveen Jindal Residence, Delhi : Next on this list is the beautiful hose of politician-industrialist Naveen Jindal, which lies in the Leafy Lutyens Bungalow Zone in Delhi, one of the most expensive localities in the city. This house is valued at Rs 125-150 crore.