Lincoln House: A look at Cyrus Poonawalla’s Rs 750 crore house, lifestyle, controversy, net worth & more

Mumbai – The city of dreams and the economic capital of India has many luxurious houses of business tycoons and celebrities. One such property belongs to the vaccine billionaire Cyrus Poonawalla and his family – The Lincoln House. The Poonawallas bought it from the US government in 2015. The bungalow is located in Mumbai’s Breach Candy area. It has been a part of several controversies and disputes.

What’s the history behind the Lincoln House?

For the unversed, it’s a Grade-III listed mansion. In 1933, British architect Claude Batley designed the beautiful mansion. Originally built for the Maharaja of Wankaner, HH Sir Amarsinhji Banesinhji, and his son Pratapsinhji Jhala, the ownership of the Lincoln House went to the US Government on a lease in 1957. HH Sir Amarsinhji Banesinhji leased the property for a nominal amount of 18 lacs. The mansion was also the Consulate General of the United States in Mumbai.

When and how did Cyrus Poonawalla get the Lincoln House?

The US consulate, in 2011, chose to relocate and auctioned the lease rights for the mansion. In September 2015, the Serum Institute of India owner decided to buy the property for US$ 113 million (Rs 934 crores approx).

What is the controversy all about?

The US and the Indian government got into a huge legal dispute – The Maharashtra authorities stopped the sale of the Lincoln House. As of 2020, the ownership has not been transferred. As per reports, Lincoln House was supposed to have been sold six years ago, but the US government was not able to do that.

A look inside the Lincoln House

The Lincoln House is guarded by two tall black gates, but since there is no maintenance, the bungalow is not in a good shape. The 50,000 square feet house can accommodate approximately 40 members. When the property was known as the Wankaner House, it boasted of Indo-Saracenic architectural style combined with Art Deco interiors. Priced at Rs 750 crore, the house is one of the costliest lands in Mumbai.

Who has stayed at the property?

Adar Poonawalla, Cyrus Poonawalla’s son, and Natasha Poonawalla live in Pune. They have a 22-acre farmhouse known as the Adar Abad Poonawalla House. However, while they are in Mumbai, they stay at the Lincoln House.

Cyrus Poonawalla’s net worth

Cyrus Poonawalla has a net worth of $27 billion. The Serum Institute of India owner is the richest healthcare billionaire in the world and the third richest person in India.