London, May 23 : Steel magnate Lakshmi Mittal is reportedly the buyer of the world’s costliest home after it was put up for sale at 117 million pounds.

The 57-year-old India born tycoon, who denies being the buyer, has apparently bought the palatial residence, on a street dubbed Billionaires’ Row, for son Aditya, 32.

Lakshmi is believed to be close to exchanging contracts with owner Noam Gottesman, 47, a US-born financier.

The home, in Kensington Palace Gardens, West London, Princess Diana’s former street, is being sold furnished and with an art collection. It works out at an astonishing
8,000 pounds per square foot.

Mittal moved into the half-mile, tree-lined private avenue four years ago after paying 67million pounds for a 12-bedroom home.

His new pad pips the 115million pounds previous record – paid in March for a flat being built in nearby St James’s Square. (ANI)