SII owner Cyrus Poonawalla bought the palatial 'Lincoln House', which is a former Maharaja residence, from the US government eight years ago in the biggest Mumbai real estate deal at the time.
Indian billionaire Cyrus Poonawalla has slammed the Indian government over being unable to take control of landmark property in 'India's Billionaires' Row', that he bought for Rs 750 crore back in 2015. Without taking any names, the vaccine-maker tycoon has called the delay in him getting possession a "political and socialist" decision, as per a Bloomberg report. The sale has still not been cleared due to a dispute over the actual ownership of the property. Both the Maharashtra government and the Defence Ministry are reported to have staked ownership claim on the land.
Poonawalla bought the palatial 'Lincoln House', which is a former Maharaja residence, from the US government eight years ago. The property used to be the location of the US Consulate in Mumbai till 2011. The deal was the biggest in Mumbai's real estate at the time. The Serum Institute of India Chairman and MD had purchased the posh, decaying mansion to renovate it into the Poonawalla family's new home.
Known today as Lincoln House, was originally called the ‘Wankaner House’. Amarsinh Banesinhji Jhala, the last Maharaja of Wankaner, an erstwhile province which used to be part of present-day Gujarat, and his son Pratapsinhji Jhala got the palace built as their royal residence in Bombay. The mansion was built by British architect Claude Batley. The massive landmark structure changed hands in 1957 when the last Wankaner ruler transferred the 999-year lease of the Wankaner House to the US government. The Maharaja did so in order to pay his taxes post independence when the princely states were brought into the Indian fold, as per an Indian Express report.
The mansion, which is set in 2 acre area, has a built up area of around 50,000 square feet. It is located at 78, Bhulabhai Desai Road which lies in the posh Breach Candy area of South Mumbai. Lincoln House is among one of the famous landmarks in this locality which also houses the Tata Garden, Amarsons Garden, the famous Breach Candy Hospital, the Breach Candy Club which has the largest India-shaped swimming pool.
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 "Lincoln House: Rs 750 crore Mumbai palace billionaire Cyrus Poonawalla bought in 2015 but is unable to live in")
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