Viyay Mallya's yacht

Viyay Mallya's yacht, Indian Empress

They've got the fastest cars, palatial houses. And now they will soon use the surplus to realise their sailing and flying fantasies. Wealthy Indians are now splurging on private jets and yachts and the trend is set to increase in the future.

Recently, a poll of 160 advisers at a private bank within global financial firm Citigroup Inc - which represents 5,000 clients who are worth, on average more than $100 million (approx Rs. 440 crore) each - found that super loaded Indians are more keen on buying jets and yachts, increasing their spending by 93 percent.

According to all the private banks that contributed to the survey, rich Africans and Russians clients are likely to increase the amount they devote to philanthropy and charitable generosities, a Reuters report stated. Russian clients picked up spending on jets and yachts over the last five years, but only half of that is expected to increase over the next five years

http://luxpresso.com/news-indulge/wealthy-indians-eye-jets-and-yachts/4218

Ambanis Reluctant to Move Into Antilla

Image courtesy: Reuters

For over a year now, Mukesh and Nita Ambani have been dilly dallying about formally shifting into their Rs. 4000 crore new home even though Nita has moved her trousseau into Antilla as a symbolic gesture of grah pravesh.

It has been learnt that though the towering home on Altamount Road is regularly used as a venue for film screenings, sundry parties and informal get together with friends, the Ambanis are clearly in no hurry to vacate their current Cuffe Parade residence, Sea Wind.

Society watchers believe the procrastination can be blamed on the adverse attention their lavish residence has attracted of late. While there is no official confirmation on whether the Ambanis have completely shelved plans of relocating into arguably one of the world's costliest home there is speculation that they may still be scouting for another suitable property.

When the US consulate moved from Bhulabhai Desai Road to Bandra Kurla Complex, they put Lincoln House - estimated to be worth over Rs. 600 crore - on the market. Almost immediately, rumours of Mukesh Ambani being one of the many private bidders started doing the rounds.