Business tycoon buys the US Consulate in Mumbai for a whopping Rs 750 crores

The iconic US Consulate on Breach Candy which had been for sale since 2011, now has a new owner in pharmaceutical billionaire, Cyrus Poonawalla. Lincoln House as it was called, is a sprawling seaside mansion housing the American Consulate for almost 54 years. This 50,000 sq ft heritage mansion is spread over two acres of land, overlooking the Arabian Sea in the heart of the city. Before housing the US Consulate, this property was known as Wankaner House, Maharaja of Wakaner’s mansion in Mumbai.

The Poonawalla’s plan to use this as their family residence. Being slated as a heritage property there are quite a few restrictions that will have to be kept in mind while they redecorate Lincoln house for themselves.

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Cyrus Poonawalla is ranked as the 13th richest person in India by Forbes, whose business interests range from creating vaccines to horse racing. Adar Poonawalla, Mr Cyrus’s eldest son was at the forefront in the negotiations and in clinching this deal. This will be one of the most expensive residential properties after Antilia, the residence of Reliance magnate Mr Mukesh Ambani.

The prices of real estate in Mumbai really seem to be going through the roof with properties like Jatia house, Maheshwari mansion and Mehrangir House going between Rupees 300 – 400 crores.

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Deals like these bring to light the glaring disparity amongst the lifestyle of Mumbaikars. On one hand we have transactions like the one above, the cost of which is unimaginable and on the other hand we have more than half of Mumbai literally living on the roads and slums in inhuman conditions. Such is the divide in this Maximum City.

[ Via : Telegraph]

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