For India’s billionaire class, real estate is no longer just about investment but it’s a statement or identity. Ultra-premium properties serve as status symbols and long-term hedges against inflation or currency volatility. Business tycoons and startup founders alike are gobbling up exclusive properties in premium locations such as Malabar Hill, Juhu, and Lutyens’ Delhi, often setting new price benchmarks.
Two of the most expensive property deals by Indian billionaires in recent years have made headlines for their sheer scale and opulence. In 2023, Reliance Industries Chairman Mukesh Ambani acquired an iconic beachfront villa in Dubai’s Palm Jumeirah for approximately ₹640 crore (USD 80 million), making it one of the costliest residential purchases in the region.
Around the same time, DMart founder Radhakishan Damani made waves in Mumbai’s real estate scene by purchasing a heritage property in Malabar Hill worth over ₹1000 crore and spanning 1.5 acres. The deal marked one of the highest-value land acquisitions in South Mumbai, underscoring the trend of India’s wealthiest making bold real estate investments both at home and abroad. Here are a few more notable property deals and assets owned by well-known business persons:
1. Gautam Singhania’s JK House (Net worth: $1.4 Bn)
JK House is the luxurious private residence of Gautam Singhania, Chairman and Managing Director of the Raymond Group. Often compared to Antilia, Mukesh Ambani’s residence for its vertical luxury, the 30+ storey skyscraper is built on land long held by the Singhania family. Estimated to be worth over ₹6,000 crore, it is India’s second most expensive property after Antilia. The tower combines both personal and corporate interests, housing not only private residences but also Raymond’s face of wealth and power.
2. Cyrus Poonawalla’s Lincoln House (Net worth: $23.1 Bn)
The historic Lincoln House in Mumbai’s Breach Candy area is a colonial-era mansion once used as the US Consulate. Acquired by vaccine billionaire Cyrus Poonawalla, Managing Director of the Serum institute of India, for INR 750 crore in 2015, the 50,000 sq. ft. property blends European grandeur with Indian heritage. It remains one of the largest residential deals in Indian history .Given its heritage status and prime location, it stands as a trophy asset in Poonawalla’s portfolio.
Also read: Mumbai Real Estate Sees YoY Dip: What’s Driving the Slowdown?
3. Kumar Birla’s Jatia House (Net worth: $20.9 Bn)
In 2021, Jatia House was acquired by Kumar Birla for an estimated INR 425 crores. This gorgeous property is a prime sea-facing bungalow in Mumbai’s prestigious Malabar Hill area, which spans over 25,000 square feet. The deal was among the most expensive residential transactions in South Mumbai that year, an auction purchase, signaling Birla’s move to secure a long-term luxury asset in an area known for high echelons, limited supply, and unmatched coastal views.
4. Gautam Adani’s Lutyens Bungalow (Net worth: $60.3 Bn)
India’s second-richest man is just as formidable in the luxury property game — though far more private about his lifestyle. While details about his overseas residences remain under wraps, his homes in Delhi, Gurgaon, and Ahmedabad are known to spark envy. The crown jewel is his stately residence in Delhi’s ultra-exclusive Lutyens’ zone, often regarded as the most prestigious address in India. Spanning 25,000 square feet on a sprawling 3.4-acre plot, the mansion was reportedly acquired for INR 400 crore, a bargain, considering its original valuation was around INR 1,000 crore in 2020.
Written by Teertha Ravi
