Friday, July 11, 2008

Vijay Mallay's skyscraper to rival Ambani's

The ego battles seem to soar with each billionaire trying to outdo the other. Having a rich dad does seems to help when building empires and castles. 25000 per sq/ft on Vittal Mallya road. Now this is some price to pay to be in the league of the rich and famous
Econonmic times reports
BANGALORE: Is Vijay Mallya doing a Mukesh Ambani in Bangalore? The word is that the ‘King of Good Times’ is set to build a massive multi-storeyed complex for himself in Bangalore on his ancestral property on Vittal Mallya Road, adjacent to UB City.
Sources say the plan is to have a designer skyscraper apartment with possibly even a helipad on the fouracre property.
Real estate sources said that the UB Group chief has roped in global consultancy firm DTZ to do the ground survey and planning. DTZ’s professional advisory services include the management of real estate portfolios, building consultancy and valuation.

Mallya’s plan sounds similar to what Mukesh Ambani is doing: building a $1 billion 60-storey place in Mumbai that sports a helipad, health club and six floors of car parking.

Named Antilla, after a mythical island , the complex will be Ambani’s new home.

For Mallya’s project, several leading Indian developers are said to have approached the UB Group chief to be part of his home-development plan. However , sources said Mallya is keen to hire an overseas developer. It is believed that a Singapore-based developer will undertake the construction.
However, it’s not clear what the height of the apartment would be. While one source said it would be 16 floors, another said it could be closer to 30, while yet another said Mallya was thinking of a 37-storey building. When TOI contacted Mallya on the matter through the UB Group’s media relations officer, the response was that Mallya wasn’t planning to build a 37-storey apartment.
But he didn’t deny or confirm the plans for a makeover of his ancestral home. Real estate developers say that with the FSI (floor space index) in the area having increased in the recent past, Mallya could go well beyond 30 floors. At present one can get anywhere between 2.5 and 3.25 FSI on Vittal Mallya Road. In terms of value, the land prices on Vittal Mallya Road range between Rs 20,000 and Rs 25,000 per sqft.


Anonymous said...

No matter how much money you get, kutton ki fitrat kutton wali hi rehte hai.

I was talking to someone in US and he mentioned that there was a big documentary on CNBS when Erin Burnett visited India that how Mukesh Ambabni is building this 1billion USD house in front of slums.

Warren Buffet still lives in his 60years old small family house. This wealth of new found billionaires would be wasted like this only.

And afterall whose money is it? they scooped it from people like me and you only.

Anonymous said...

India Output Growth Slumps, S&P Says Rating May Be Cut to Junk

By Cherian Thomas and Kartik Goyal

July 11 (Bloomberg) -- India's industrial production grew at the slowest pace in more than six years and Standard & Poor's said it may cut the nation's credit rating to junk if the economy deteriorates further.


Anonymous said...

Bakra Katne wala hai!!!

Anonymous said...

Once the US banks fail like Indymac in US, Indian IT companies like Infosys, Wipro, Satyam and TCS would be scratching their ass.

More than 50% was coming from these financial institutions in US and looks like these major IT players should get ready for some major layoffs.

mallapottell said...

well these guys could watchand enjoy through binoculars, people defecating around their mansions, women, men and children alike, showing their private parts. A mansion surrounded by slums!!!!!!!!! wow. Hats off to these guys for their fine taste.

Chotta Betaal said...

Good News

Tough times ... , 'bundd to ***...' so what?

Isn't it better than ... Ah! In the good old days when everybody gave ass and payback ..., got wot-nothing in return ... Hope to hai saali.

1 Solution - Do a switch?

Ask me how.

Anonymous said...

shame on these a country where majority does not have a luxury to eat 2 meals a day......these morons are wasting money like anything

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