Mukesh and Nita Ambani are building a new home!
It will be 27 stories (550 feet) tall, and contain 400,000 square feet of interior space. But only 40,000 to 50,000 square feet will be dedicated to solely residential living space.
The “garage” consists of six floors, and will hold 150 - 175 cars.
The “house” will be located in Mumbai, India where the owners and guests can escape the sweltering summer heat in the “ice room” — complete with snow.
Ambani is currently listed by Forbes as the fifth richest man in the world, with an approximate net wealth of $43 billion. The cost of the home will approach $2 billion.
Brings a whole new meaning to “if you’ve got it, flaunt it”.
Forbes has the story, photos, and a video.
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01 May 08 6:50 pm
At $300/sq.ft it would cost $X - a bargain. I am not sure if it would include the ice room:)
01 May 08 7:35 pm
Not sure about $300/sq.ft, but it seems to me, it’s more like $5K/sq.ft.
Good story Jay. Ok, I won’t laugh at Lenovo and Dell customer support any more 
The wife had a design request… “no 2 rooms should be look alike”… well, I guess.. what’s 2billion out of 43 uh? Not that much
01 May 08 8:49 pm
Hey Jay, how would you like to collect a real estate commission on that? It would definitely put a dent in our bottom line!
It would be interesting to know more about the real estate market in India and particularly in the area this palace is being built.
02 May 08 3:04 am
I wonder if the Ambanis have heard about Warren Buffet and his life style. You really do not have to flaunt it if you have got it.
02 May 08 4:57 am
I can only imagine how long it will take him to get “used” to his new house
02 May 08 10:48 am
Seems like he’s conserving a little here, I mean only 550 ft? He should of gone for 1000ft that’s how you make a statement!
02 May 08 11:01 am
thats just plain insane, this guys better give some money to more poor peoples.
02 May 08 12:24 pm
With $200 M down - we can arrange for a 90% Interest Only jumbo at 7.25%. Monthly payment of $10,875,000.00. I am sure this is very manageable for you and I can issue an approval within a short time period.
Do Mr. and Mrs. Ambani give me call and we can arrange a time to go over the initial loan disclosures.
—- That would be last loan I ever wrote —-
02 May 08 12:59 pm
And if the Ambani’s ever want to sell their home, I’ll list it for just 1%….
03 May 08 4:45 am
Jay, 1%? You will get underbid by a host of characters!
05 May 08 1:35 am
Its wierd for a billion dollars I didnt actually like the house too much. I mean 27 stories seems like a pain. So every time you want to eat or watch a movie or go to sleep you need to go to an elevator. All that said I mean its nicer than my place. But if I had a billion dollars to spend I would have done something a little different.
06 May 08 10:22 pm
I would love to be his Real Estate Agent. I hope he needs a home in AZ sometime soon.
08 May 08 10:20 am
I had heard about this from a fellow agent here in Colorado. This is craziness! Is this what people do when they realize they have SO much money that they will never be able to spend it all???