Ambani leaving his bungalow at the twenty seventh ground of Mumbai and shifting to UK together with his circle of relatives

Rumors have been circulating on Indian social media for the past few days that the richest man in Asia, Mukesh Ambani, is moving to the UK with his family. His company, Reliance Industries, bought the bungalow for डलर 77 million earlier this year.

According to Forbes, Ambani has a net worth of १० 110.6 billion. He now lives in the magnificent bungalow Antilia on the 27th floor of Mumbai. It is said that it cost 1-2 billion dollars to build this building. Ambani’s company said in a statement that the rumors were baseless.

However, the company’s claim that Stoke Park, spread over 300 acres, about 40 km from London, in April, boosts the group’s fast-growing consumer business after two years of reinforcement puts the Ambani family on par with other Indian businessmen who have bought big houses in the UK.

Lakshmi Mittal, head of the अर्ब 53 billion steel and mining company ArcelorMittal, owns three luxury bungalows in London. The 71-year-old businessman’s biggest bungalow is on The Bishop Avenue, known for its line of billionaires.

Stoke Park. Photo: English Heritage / Heritage Image / Getty Images

This place is considered to be one of the richest streets in the world. It is said that the marble used to build the Taj Mahal was used to build Mittal’s Summer Palace. It had a lot of decoration. In addition, Mittal bought a second 12-bedroom bungalow for his son at Palace Green in Kensington, UK in 2008 and bought another bungalow the same year as a gift to his daughter.

Similarly, four Hinduja brothers Srichanda, Gopichanda, Prakash and Ashok are the owners of the multinational Hinduja Group. His net worth is estimated at अर्ब 31.7 billion, according to Forbes. They also have luxury homes in the British capital. It has six Georgian terraces on six floors, interconnected. The value of these houses is about 500 million US dollars.

Adar Punwala, chief executive officer (CEO) of Serum Institute of India, the world’s largest vaccine manufacturer, also moved from the Indian city of Pune to a 25,000-square-foot bungalow in London’s Mayfair this year. The house was rented by a Polish billionaire for 69,000 US dollars a week.

Mukesh Ambani with his wife and children.

Vijay Mallya, a 65-year-old fugitive Indian billionaire and former owner of the now defunct Kingfisher Airlines, who is currently being extradited to the UK, also lives in a luxury home on Cornwall Terrace in London’s Regent’s Park.

This reflects the desire of the rich Indians to buy property in the UK, says Sushil Agrawal, a consultant at the UK real estate firm Purple Brix. ‘Many rich Indians are eager to know about our London homes. The richest people in the world seem to be more attracted to the high quality of life and services available in the UK, “he said.

According to Agarwal, the trend is exacerbated by the fall in the value of London bungalows due to Brexit, the increase in Indo-British trade relations and the easing of visa requirements between the two countries. “The UK is favored by Indian billionaires, especially those on Forbes’ rich list. Because such investments carry a big personality in the Indian community ‘, he said.

According to property agent Knight Frank’s 2019 property report, London was the destination of choice for 74 percent of India’s richest people that year. According to the same report, the number of luxury home buyers had increased by 11 percent. Who were Indians.

Ambani’s bungalow in Mumbai

Pradip Sethi, an investment banker who moved to London from Mumbai two decades ago, now owns two houses in London. He cites the British capital as the main reason for his preference for business.

According to Sethi, 53, London’s cultural and social atmosphere gives the feeling of being at home. In case of an emergency, one can reach India in an eight-hour flight. He also says that many Indians send their children to the UK for higher education and that it is the family’s desire to invest in local property.

The persecuting bureaucracy is another reason for Indian businessmen to emigrate. Metal and mining businessman Anil Agrawal had revealed that he was forced to leave India in 2019. Because he was so frustrated with not being able to fulfill his entrepreneurial ambition.

‘What can I do? I could not make any money in India. I could not get 100 million market capital… and I lost London. Where I wore a suit and a tie, I was able to find something ‘, The Economic Times quoted him as saying.

Once in the UK, Agrawal was able to grow his Vendata resources. Which became the first Indian company to be listed on the London Stock Exchange in 2003.

And there is not the slightest hint that the emigration of rich Indians will be stopped.

According to the latest Global Wealth Migration Review report of Afrasia Bank, nearly two per cent of India’s richest people, or about 5,000 millionaires, left India last year alone to globalize their wealth and lives.

A recent survey by London-based Global Citizenship and Residence Advisory Henley & Partners found the main cause of the Corona epidemic to be the main cause. According to the survey, Indians are more likely to take citizenship of other countries or stay the same.

Reliance’s Stoke Park Estate, between Parkland and English Country Gardens in the UK, has a 49-bedroom bungalow, 14 acres of private garden, 13 tennis courts, a five-star hotel, three restaurants, a spa and fitness center and a 27-hole championship golf course. Many films, such as the James Bond film Goldfinger and Tomorrow Never Dies, were filmed in the park. From the South China Morning Post


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