Mukesh Ambani, India's richest man, is caught in the middle of a debacle that involves the alleged illegal sale of the property where his lavish home stands, local Indian papers show.

Antilia, the Ambani family residence, is 27 storeys or 570 feet high and was purchased in 2003 for Rs215 million ($4.8 million) from the Currimbhoy Ebrahim Khoja Orphanage. The residence, named after a legendary island near Spain, has six levels of parking, a helipad, and a pool.

According to the Maharashtra state government and the Home Department, the land in which the Antilia stands is meant for charitable purposes and should not have been sold to a private individual. The issue first erupted in July 2007, media reports say, after the Wakf Board, or the body that oversees Muslim religious properties donated for charitable purposes, discovered the illegal sale of the land for profit. 

Records also show that the orphanage's sale of the land to the Ambanis had been approved by the Mumbai Charity Commission despite the prohibition. The Antilia is said to be worth more than thrice its purchase value now. 

Ambani has reportedly declined to speak on the matter, with his spokesperson noting that the issue is between the Wakf board and the orphanage, and does not involve the family.