Reliance Industries chairman Mukesh Ambani's Mumbai residence Antilia has topped the Forbes's list of most outrageously expensive property in the world, according to Forbes.
The Ambani's residence is a 27-storey, 570-foot-tall and 400,000-square-foot building located on a sea-facing plot at Altamount Road in South Mumbai.
Antilia, the world's most expensive house, is named after a mythical Atlantic island.
"The title of the most outrageously expensive property in the world still belongs to Mukesh Ambani's Antilia in Mumbai," Forbes reported adding that, the construction cost of the skyscraper is worth more than $1 billion.
Perkins & Will, Chicago-based architects, have designed the building keeping in mind the Vaastu Shastra for positive energy. The house is designed in such a way that it will survive an 8-richter scale earthquake.
A multi-storey garage, three helicopter pads, a ballroom, a health spa, yoga studio, a theatre, guest suites, a number of terraced gardens and a prayer room are included in the design.
Forbes has placed steel baron Lakshmi Mittal's residences in Kensington Palace Gardens, London, at fifth and 18th place in the World's Most Expensive Billionaire Homes.
The steel magnate bought 55,000-square foot mansion from billionaire Bernie Ecclestone. He spent millions into its renovation and named it "Taj Mittal." It has 12 bedrooms, a pool and marble sourced from the same quarry as the Taj Mahal, Forbes reported.
Brazilian philanthropist and social figure Lily Safra's Villa Leopolda in France is at the second place, while businessman Ira Rennert's Sagaponack residence in New York is at third place.