PEPPERMINT Grove council is considering repossessing the incomplete $70 million riverside mansion known as Taj Mahal on the Swan.
It is alleged $150,000 in rates are owed by absent owners and former fertiliser magnates Pankaj and Radhika Oswal.
‘At some stage in the not too distant future, what’s owed will affect our cash flow,’ council president Rachel Thomas said.
The unpaid rates attract an 11 per cent annual fine.
In 2007, the Oswals paid more than $23 million for eight blocks totalling 6600sq m to build the mansion, but left it incomplete after they left Perth in 2011. The Australian Tax Office froze the Oswal’s assets before Nedlands council used a three-year limit on rates debts to take possession and rent the couple’s house in Philip Road, Dalkeith, house earlier this year.
At last week’s meeting, Peppermint Grove councillors went behind closed doors to consider how they could repossess the Bay View Terrace mansion to get back the rates and service charges. The advice will be heard at the council meeting this month.