Reaching for the sky: Mukesh Ambani's $1 billion home to tower over 500 ft

Yes, India's richest man, billionaire Mukesh Ambani new home is what few people can dream of, leave alone construct it: a 60-story vertical glass palace in Mumbai, complete with a helipad, health club, swimming pool and six floors of car parking space which can accommodate about 170 cars.

Ambani, chairman of Reliance Industries and ranking within the top 15 on Forbes' list of the world's richest people - with an estimated fortune of $28 billion (£14 billion) - is reportedly spending $1 billion (£500 million) for the new home located in Altamount Road in posh south Mumbai (where real estate prices are now in the region of $1830 per sq ft), a price tag that would make it vie for the title of the most expensive home in the world.

The plot - 49,000 sq ft – was purchased in 2002 and the building will tower to 570 feet (over 170 mt tall), or the height of a 60-story residential building, but will have only 27 floors. Enough to earn it the title of the largest private residence in the world.

The top four floors, with a panoramic view of the city and the Arabian Sea beyond, are expected to be for Mukesh Ambani, his wife Nita, mother Kokilaben and the couple's three kids.

According to sources close to the family, around 600 staff will be employed at the house to wait on India's first industrial family. Two others floors will be exclusively for guests and a mini-theater.