Foreign Property News | Posted by Hnin Ei Khin
Laxmi Vilas Palace, owned by the Gaekwads of Baroda, holds the distinction of being the world's largest private residence.
As per a report by DNA, It is worth noting that Laxmi Vilas Palace is four times larger than Buckingham Palace, the official residence of the British royal family.
The report noted that the magnificent palace serves as the residence of the Baroda royal family, led by HRH Samarjitsinh Gaekwad.
After the passing of his father, Samarjitsinh was crowned Maharaja in May 2012. The grand ceremony took place on June 22, 2012, at Laxmi Vilas Palace.
In 2022, Samarjitsinh tied the knot with Radhikaraje, a member of the royal family of Wankaner State. The couple is blessed with two daughters.
He also held the position of president in the Baroda Cricket Association. Apart from cricket, Samarjitsinh is an enthusiastic golfer and has established a 10-hole golf course and clubhouse within the Laxmi Vilas Palace complex.
The Laxmi Vilas Palace in Vadodara was built in 1890 by Maharaja Sayajirao Gaekwad III for a whopping Rs 27,00,000 or 1,80,000 pounds, a huge sum at that time.
While it is almost impossible to accurately depict the value of such an imposing and gargantuan landmark of the country, estimates state that property prices in this area may be anywhere between Rs 7,000 and Rs 8,000 per sq ft. Taking that into account, it should be mentioned that the palace complex spans a whopping 700 acres, which works out to be a massive 3,04,92,000 sq ft.
Taking Rs 8,000 per sq ft as the prevailing market rate, the final valuation, at an approximation, would be at least Rs 2,43,93,60,00,000.
Laxmi Vilas Palace: Architecture and construction Built as the private residence for Maharaja Sayajirao Gaekwad III in 1890, Laxmi Vilas Palace is one of India’s biggest architectural marvels. It makes use of the Indo-Saracenic architectural style, fusing elements marvelously from Mughal, Hindu and Gothic design styles.
12 years were required for building this imposing structure covering 700 acres and almost four times the size of Buckingham Palace in the UK.
Ref: Meet Indian man who owns world's largest private residence (livemint)