In 2004, the chairman and CEO, of the LNM Group, Lakshmi N Mittal bought a central London house for a staggering price of £70 million (about Rs 560 crore). The UK-citizen and steel magnate's new house was then the world's most expensive house as per Guinness Book of Records. The 12-bedroom mansion located at the prestigious Kensington Palace Gardens has garage space for 20 cars. The Formula One racing boss, Bernie Ecclestone, who was the previous owner, had bought it for his wife three years ago. Mittal's house in Kensington, London is decorated with marble taken from the same quarry that supplied the Taj Mahal. The extravagant show of wealth has been referred to as the "Taj Mittal". The NRI owns three prime properties collectively worth £500 million on the "Billionaire's Row" at Kensington Palace Gardens.
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