When you think of Indian billionaires and their lavish homes, you might imagine Antilia, the 27-story skyscraper owned by Mukesh Ambani in Mumbai, or the sprawling bungalow of Gautam Adani in Ahmedabad, or the elegant mansion of Ratan Tata in Colaba. But there is another Indian billionaire who has recently bought one of the world’s most expensive houses, and he is not as well-known as the others.
Meet Pankaj Oswal, the founder and chairman of Oswal Group Global, a multibillion-dollar global conglomerate that has interests in petrochemicals, real estate, fertilizers, and mining. Along with his wife Radhika Oswal, he has acquired a stunning architectural masterpiece in Switzerland, called Villa Vari, which is currently rated as one of the world’s top 10 most expensive houses that’s worth a whopping $200 million (around Rs. 1,649 Crore).
Villa Vari was originally owned by Greek businesswoman, socialite, and heiress to the Onassis fortune, Christina Onassis. The Oswals have lavishly transformed the Swiss mansion with opulent and exotic furnishings from across the world under the guidance of world-famous interior designer Jeffrey Wilkes, who has previously designed the iconic Oberoi Rajvilas, Oberoi Udaivilas, Mandarin Oriental and Leela Hotels.
The bespoke countryside retreat spans across 40,000 square meters and overlooks the snow-capped peaks of Mt Blanc. It is situated in the Swiss village of Gingins, which is only 15 minutes from Geneva, a lakefront metropolis. Villa Vari is presently the largest property in Canton Of Vaud.
The Oswals have resided in Switzerland for the past decade with their talented daughters, Vasundhara and Ridi. Vasundhara is an executive director of PRO Industries and Axis Minerals, while Ridi is a chemical engineering student and a successful singer-songwriter in the Indo-Western pop genre. The family has recently moved into their incredible new home that is named after their beloved children.
Despite being worth over $3 billion USD (Rs. 247 Thousand Crore), the Oswals have always preferred to stay away from the limelight. They have a noteworthy business portfolio that includes PRO Industries, which owns the largest state-of-the-art ethanol plant in East Africa; Axis Minerals, which has one of the largest bauxite mining projects in West Africa; and Burrup Fertilizers, which is the world’s largest liquid ammonia production company in Australia.
The Oswals are an inspiring example of how Indian entrepreneurs can achieve global success and create a legacy of excellence. Their purchase of Villa Vari is not only a testament to their wealth and taste, but also a reflection of their vision and ambition. They have shown that Indian billionaires can compete with the best in the world when it comes to owning some of the most expensive and luxurious homes on the planet. We wish them all the best in their new abode and hope they enjoy its beauty and comfort for many years to come.
Q: Who owns the world’s most expensive house?
A: The world’s most expensive house is a matter of debate, as different sources may use different criteria to rank them. However, one of the contenders for the title is Villa Vari, a $200 million (around Rs. 1,649 Crore) architectural masterpiece in Switzerland, owned by Indian billionaire Pankaj Oswal and his wife Radhika Oswal. The Oswals bought the property from Greek heiress Christina Onassis and transformed it into a lavish and luxurious retreat with the help of renowned interior designer Jeffrey Wilkes. Villa Vari spans across 40,000 square meters and overlooks the snow-capped peaks of Mt Blanc. It is situated in the Swiss village of Gingins, which is only 15 minutes from Geneva, a lakefront metropolis. Villa Vari is presently the largest property in Canton Of Vaud and one of the world’s top 10 most expensive houses.
Q: How much does a 400,000 square foot house cost in Mumbai?
A: A 400,000 square foot house in Mumbai would cost a fortune, as Mumbai is one of the most expensive cities in the world for real estate. One example of such a house is Antilia, the 27-story skyscraper owned by Mukesh Ambani, India’s richest person and the chairman of Reliance Industries. Antilia is estimated to be worth $2 billion (around Rs, 16,500 Crore) and is situated in one of the world’s most expensive addresses—Altamount Road in South Mumbai.
According to property trends, per square foot of any real estate on Altamount Road ranges between a massive Rs 80,000 to Rs 85,000 (as per the nos two years back). Antilia has a staff of 600 people to maintain it and features a 168-car garage, a ballroom, a spa, a theatre, a temple, and three helipads.
Q: What is the most expensive home for sale in 2022?
A: The most expensive home for sale in 2022 may change depending on the market conditions and the availability of buyers. However, one of the candidates for the title is The One, a Los Angeles mega mansion that was once considered not only to be the most expensive house in California but also the most expensive house in the US. The One was listed for $295 million (around Rs. 2,435 Crore) in auction in January 2022—making it the most expensive home for sale in the US at the time—but was finally sold for US$141 million (around Rs. 1,163 Crore) in March 2022 to Richard Saghian, CEO of fast fashion company Fashion Nova. Despite its flaws, this is a beautiful luxury property with gorgeous views in a breathtaking setting. The One has nine bedrooms, 21 bathrooms, five swimming pools, a nightclub, a bowling alley, a cinema, and a wellness center.
Q: Is Nile Niami’s ‘the one’ the most expensive house in California?
A: Nile Niami’s ‘the one’ was once considered to be the most expensive house in California and also the most expensive house in the US. However, it lost its status after it was sold for much less than its original asking price. Nile Niami is a film-producer-turned-developer who spent eight years and $500 million (around Rs. 4,125 Crore) to build The One, a Los Angeles mega mansion that spans across 100,000 square feet and sits on a hilltop overlooking Bel Air. He initially marketed The One for $500 million (around Rs. 4,125 Crore), hoping to make it the first half-billion-dollar home in America. However, he faced legal and financial troubles that forced him to lower his price and eventually sell it at an auction. The One was listed for $295 million (around Rs. 2,435 Crore) in auction in January 2022—making it still the most expensive home for sale in the US at the time—but was finally sold for US$141 million (around Rs. 1,163 Crore) in March 2022 to Richard Saghian, CEO of fast fashion company Fashion Nova. Therefore, The One is no longer the most expensive house in California or the US.