You Can Own A Palace, Castle And Village In Italy For Rs 16 Crore

A medieval castle and hamlet of Serravalle in Italy is on sale for about $2 million (Rs 16 crores), according to a report in CNN. It is located half-way between the cities of Modena and Bologna in Italy's northern Emilia Romagna region.

The outlet further states that the castle is in good shape and has central heating. It is situated atop green rolling hills and would require minimal repairs. It comes with a piece of the village of the same name, which was once part of its fiefdom, lying at its feet.

According to the website of Immobiliare Giacopini, the real estate agency handling the sale, the total area of buildings adds up to 1,775 square meters which is set at an altitude of 320 meters above sea level. "Where the Roman Verabulum once stood, this mediaeval village, fortified at 320 metres above sea level, was conquered and destroyed by the Longobards in the eighth century after Christ. Rebuilt on the ancient foundations, it was able to host Charlemagne on his way to Rome to be crowned emperor in the ninth century," reads the property description.

For centuries, the fortification has been at the centre of territorial feuds and battles against invaders. Prior to the unification of the Kingdom of Italy in 1861, the country was divided into numerous city states each competing for supremacy. For its strategic military position, the castle was bitterly contested by Modena and Bologna in the 12th century.

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The village has around 40 residents, a frescoed church, a traditional tavern, and a wine museum focusing on rural life. At the entrance, a large stone portal emblazoned with a coat of arms and adorned with statues greets visitors, CNN reports.

Paolo Giacopini of Immobiliare Giacopini told the outlet, "The charm and panorama are matchless, surrounded by vineyards, in a strategic location between the two top cities of Emilia Romagna, a wonderful region which is often wrongly eclipsed by Tuscany when it comes to castles and manors."

He further added that the castle is "under the supervision of regional arts authorities who have placed restrictions on radical structural changes such as turning a bathroom into a bedroom, or vice versa."

CNN adds that the estate is currently rented out for conferences and private gatherings, but the current owners, who prefer to stay anonymous , are no longer able to manage the huge property.