18°58′10″N 72°48′12″E / 18.96944°N 72.80333°E
Lincoln House, owned by billionaire Cyrus Poonawalla, is a 50,000 sq foot heritage property located at 78, Bhulabhai Desai Road,[1] in the billionaires row of Mumbai, India.
Property history
editA Grade-III listed mansion designed 1933 by British architect Claude Batley,[2] the property was originally built for the Maharaja of Wankaner, HH Sir Amarsinhji Banesinhji and his son Pratapsinhji Jhala. From 1957 the property was leased to the U.S. Government and served as the Consulate General of the United States in Mumbai.
In September 2015 it was sold for a reported Rs 7.5 billion (US$ 113 million), to Cyrus Poonawalla, Chairman of the Poonawalla Group, who plans to use the property as a family home. Although selling below the reserve price, the September 2015 purchase was reported as the most expensive residential property transaction in India's history.[3] However, legal disputes over ownership between the US and Indian governments as well as Maharashtra authorities have held up the sale of the property and ownership has not been transferred as of 2023.[4][5]
References
edit- ^ "Messages for U.S. Citizens | Mumbai, India - Consulate General of the United States". Archived from the original on 5 October 2016. Retrieved 4 October 2016.
- ^ Babar, Kailash (14 September 2015). "At Rs 750 crore, Lincoln House sold below reserve price". The Economic Times. Archived from the original on 15 September 2015. Retrieved 15 September 2015.
- ^ Crabtree, James (14 September 2015). "Mumbai's former US consulate sets Indian record for property deal". Financial Times. Archived from the original on 7 December 2021. Retrieved 15 September 2015.
- ^ Das Gupta, Moushumi (21 February 2020). "Forget trade deal, ease of doing business, US can't sell own property in Mumbai for 5 years". ThePrint. Archived from the original on 3 June 2021. Retrieved 3 June 2021.
- ^ Sazonov, Alexander; Kay, Chris (2 April 2023). "Billionaire Blocked From His New Palace Blasts 'Socialist' India". Bloomberg News. Retrieved 15 April 2023.