This Article is From Jan 14, 2011

Oz Taj-on-Swan could be auctioned

Oz Taj-on-Swan could be auctioned
Melbourne: The Taj Mahal is on sale.

But, wait. Not the iconic Indian Taj Mahal - that monument to love - but one in Australia being built by an Indian businessman.

According to PerthNow.com, the $70 million "Taj-Mahal-on-the-Swan", still being built, may soon have new owners after businessman Pankaj Oswal's fertiliser company went into receivership.

The $70-million domed structure, due for completion in 2012, is one of the most expensive properties in Australia and includes a temple, a gym, an observatory with a revolving roof and parking for 17 cars. It is being built in the well-heeled Perth suburb of Peppermint Grove overlooking the Swan River, reports the website.

It quoted Chris Codrington, a spokesman for the Oswals, as saying that Pankaj and his wife Radhika would consider selling the property if they were offered a good price.

"It's not officially on the market, there's been no real estate agent appointed but they've obviously had a couple of nibbles; one would assume people interested in the block rather than taking the house," the spokesperson was quoted as saying.

The couple, who have other business interests including an international chain of sustainable fast-food restaurants, are holidaying in India with their children.

The Oswals were due to be back in Perth in the next few weeks, the spokesperson was quoted as saying.
.