At 400 crores, this is India's most expensive home

Mumbai: Apparently, millionaires do have it easier. Billionaires even better.  

For 400 crores, Maheshwari House on Mumbai's Napean Sea Road has been sold to industrialist Sajjan Jindal of Jindal Steel.

For Rs 92,000 per square foot, Mr Jindal gets three storeys, a little over an acre, and an unending sea view.

Luckily, Mr Jindal can well-afford it. His company has the third-highest revenue in its sector.

But has he got a good deal? Just two weeks ago, Kapadia House located opposite Mr Jindal's new home fetched 350 crores. It's half the size of Maheshwari House and does not face the sea.

Most of Delhi and Mumbai, however, is currently less bullish on property than Mr Jindal, who needless to say, has a vastly cushier cushion than the average investor.

"We are seeing the sale of luxury apartments in both cities, Delhi and Bombay, slowing down. And the reason is that the buyer believes that the price being quoted is beyond reasonable limit," explained Anuj Puri, the Chairman of Jones Lang LaSalle Meghraj, a real estate company.

"On the other side, we have seen end-user or developer buying plots at very high prices,'' he said. Mr Jindal now tops that list.