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India's Richest Man Builds Skyscraping House

Posted by: Nate Berg

6 June 2007 - 12:00pm

Mukesh Ambani, India's richest man, has plans to build a 570-foot, 27-story skyscraper in Mumbai as a home for his six-person family, a stark contrast to the city's many crowded slums. Some planners predict similar skyscraper projects will follow.

"The building, named Antilla after a mythical island, will have a total floor area greater than Versailles and be home for Mr Ambani, his mother, wife, three children and 600 full-time staff."

"Draped in hanging gardens, the building will have a floor for a home theatre, a glass-fronted apartment for guests, and a two-storey health club. As the ceilings are three times as high as a normal building's, the 173m (570ft) tower will only have 27 floors."

"Urban planners say Mr Mukesh's home is part of a global rush for tall buildings that has seen skyscrapers spring up in Dubai, Shanghai and Seoul."

"In India, planning rules and a historic antipathy to unrestrained materialism has meant that this race to touch the sky has largely bypassed the cities, which are more notable for their shantytowns and dilapidated housing."

Full Story: India's richest man builds 60-storey home
Source: The Guardian, June 5, 2007
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“
The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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