NRI steel tycoon Lakshmi Mittal has bought his third major property for 70 million pounds in Kensington Palace Gardens, London's most expensive street.


</p><tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>Mittal, whose fortune is estimated at 27 billion pounds, already owns two large homes in Kensington Palace Gardens where Princess Diana spent her last years.</P>
</p><p class='TableClas'>The latest purchase of the former embassy of the Philippines from Hedge fund tycoon Noam Gottesman came a month after Mittal bought Britain's most expensive house for 117 million pounds on the street nicknamed "Billionaire's Row", ostensibly for his son Aditya and his family.</P>
</p><p class='TableClas'>The 70 million pounds price tag for Mittal's latest property is all the more remarkable as the former Philippine Embassy is in need of modernisation, the Evening Standard said.</P>
</p><p class='TableClas'>The 16,250 square feet home is also not the largest in the road but it looks on to Kensington Palace.</P>
</p><p class='TableClas'>58-year-old Mittal, Britain's richest man, himself lives in a home in Kensington Palace Gardens which he bought for 57 million pounds four years ago and is three times-bigger than his latest acquisition.</P></p><p class='TableClas'></p></table>


Mittal buys third major property in London

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