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Kumarmangalam Birla purchases iconic bungalow for record Rs. 425 crore

by IBNS 07 Sep 2015, 10:16 pm

Mumbai, Sept 8 (IBNS) Industrialist Kumarmangalam Birla is the proud owner of the country's costliest house as he has purchased the iconic Jatia House in Malabar Hill for a record Rs. 425 crore.

Birla made the purchase on Monday as the 25,000-square feet bungalow was put under auction.

The previous record was made in 2011 when Maheshwari house in the same area went for Rs. 400 crore. A stone's throw away from Maheshwari house Home Bhava's house was sold for 372 crore in 2014.

The building Birla has purchased comes for about Rs. 1.7 lakh per sq ft.