The big-ticket purchase is part of a trend where the super rich are ready to fork out eye-popping sums for independent mansions, a scarce commodity in the city.
Mahatma Gandhi’s idea that the wealthy must act as trustees of their wealth for the larger good of the people and avoid ostentatious displays of it seems to have finally received a burial. India’s ever growing population of billionaires seem to have cast off their socialist baggage. Once and for all.
If Mukesh Ambani set off the trend of splurging out on a home with his estimated $1 billion skyscraper (land and building costs taken together) in 2012, Radhakishan Damani, the reclusive stockbroker-turned-business magnate who owns the DMart chain of retail stores, took it to a whole other level with …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai