The Lavish Residences of Harshad Mehta and Vijay Mallya
When it comes to opulent lifestyles and extravagant homes, few names stand out as much as Harshad Mehta and Vijay Mallya. Both men, known for their larger-than-life personas, have owned some of the most luxurious properties around the globe. While Harshad Mehta’s story is one of meteoric rise and fall in the Indian stock market, Vijay Mallya’s tale is a blend of business success and legal troubles. Let’s delve into the fascinating world of their lavish residences.
Harshad Mehta’s Real Estate Empire
The Big Bull’s Mumbai Abode
Harshad Mehta, often referred to as the “Big Bull” of the Indian stock market, owned several properties in Mumbai. His most famous residence was a sprawling penthouse in the posh locality of Worli. This luxurious apartment was a symbol of his success and was often the venue for his high-profile parties.
Other Properties
Apart from his Worli penthouse, Mehta owned multiple properties across Mumbai. These included flats in upscale neighborhoods and commercial spaces that added to his real estate portfolio.
Vijay Mallya’s Global Mansions
Cornwall Terrace Property in London
Vijay Mallya, the flamboyant liquor baron, currently resides in his UK house located in one of central London’s prime hubs, Regent’s Park. The 18/19 Cornwall Terrace property is just minutes away from Madame Tussauds Wax Museum. Estimated to be worth millions of pounds, Mallya’s London house may soon be taken by the bank that gave loans to Mallya to purchase the ultra-premium property.
Considered a ‘high-class house for Mallya and his family members and UB Group corporate guests,’ the Cornwall Terrace property, built between 1821-23 with designs by architect Decimus Burton, is owned by Mallya through Rose Capital Ventures, a British Virgin Islands firm linked to his family trust.
In January 2022, the UK High Court ruled against him over a dispute with the Union Bank of Switzerland (UBS). The HC refused Mallya’s request for a stay on repaying the UBS loan after he failed to meet a previous repayment deadline in April 2020. The five-year-period on a loan estimated to be 2.5 million British pounds from the UBS expired in 2017.
Although the court order gave UBS an ‘immediate right to possession’ in 2019, the bank has not been able to take control due to difficulties caused by the Covid-19 pandemic. The Mallya family is likely to hold this prime property after a British court said refinancing of the loans was a ‘permissible transaction’ as it meant investment in a prime London property.
Ladywalk Mansion in London
Mallya and his family are believed to own many properties across the UK, including a large country house in Hertfordshire, north of London. Known as the Ladywalk Mansion, this country house lies 40 km away from London. The property is a ‘large house near Tewin, a village outside Welwyn Garden City in Hertfordshire’.
Sausalito, California
Bought in 1987, the Sausalito property at 6 Bulkley Avenue is ‘one of the most prominent houses’ in the town, with views stretching from Belvedere to the Bay Bridge and San Francisco. Spread across 11,000 sq ft, the property was bought by Mallya for USD 1.2 million.
Clifton Estate, Cape Town
Mallya bought this Cape Town mansion in November 2010 for USD 8.4 million. Described by the Sunday Times (South Africa) as the ‘best house in Cape Town’, the property with sweeping views of the Clifton beach, is located on Nettleton Road. Mallya sold the property, which boasts a sauna, walk-in safe areas, gym, and garage space for four cars, in March 2014.
Trump Plaza Condo, New York
In September 2010, Mallya bought a condo in Trump Plaza for USD 2.4 million. Mallya’s ‘Penthouse A’ is located at 167, East 61st Street, in the 37-storey skyscraper.
Le Grande Jardin, France
Known as Le Grande Jardin, this property was bought by Mallya in September 2008, for approximately USD 53-61 million. Located at the Island of Sainte-Marguerite, the largest of the four islands of Lérins, the Le Grande Jardin lies about half a mile offshore from the French Riviera town of Cannes.
Keillour Castle, Perthshire
Located in Perthshire, Scotland, the castle was purchased by Mallya in 2007.
Devika, New Delhi
Mallya’s Delhi house is located at the national capital’s Sardar Patel Marg.
Niladri, Mumbai
Mallya’s sea-facing bungalow on Napean Sea Road, South Mumbai, is called Niladri.
Kingfisher Villa in Goa
Located at Candolim beach in Goa, the 12,350-sq ft Kingfisher Villa has been branded an Indian version of Elvis Presley’s Graceland. In 2017, a consortium of banks, led by the State Bank of India, sold this property for Rs 73 crores to recover dues from Mallya.
Conclusion
The stories of Harshad Mehta and Vijay Mallya are a testament to the highs and lows that come with immense wealth and fame. While their financial empires may have crumbled, their luxurious homes remain as monuments to their once-glorious lives. Whether it’s the penthouses in Mumbai or the mansions in London, these properties tell tales of ambition, success, and eventual downfall.