LN Mittal buys world's costliest home in UK | india | Hindustan Times
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LN Mittal buys world's costliest home in UK

Indian steel tycoon Lakshmi Mittal is said to have splurged 117 million pounds to buy the palatial home on Kensington Palace Gardens for his 32-year-old son Aditya.

india Updated: May 23, 2008 17:40 IST

Just months after putting his 40-million-pound house at Bishops Avenue on sale, Indian steel tycoon Lakshmi Mittal is said to have splurged 117 million pounds to buy a new mansion in London -- making it possibly the world's costliest home.

Britain's richest man Mittal has purchased the palatial home on Kensington Palace Gardens, a street dubbed Billionaires' Row in West London, fully furnished and with an art collection for his 32-year-old son Aditya, leading tabloid The Sun reported on Friday.

However, according to the tabloid, Mittal, who moved into the half-mile, tree-lined private avenue four years back after paying 67 million pounds for a 12-bedroom house, has denied buying the residence which works out at an astonishing 8,000 pounds per square foot.

Mittal had recently put his 11-bedroom Summer Palace, one of Britain's most expensive homes, on Bishops Avenue on sale after one of his neighbours, the Barratt family, got approval from the civic authorities to build luxury apartments next door.

The 57-year-old world's largest steel maker, whose fortune is estimated at 51 billion pounds, had earlier led an unsuccessful attempt to prevent the builder getting the permission from the local city council which outrightly rejected his appeal.