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Oswals' Perth mansion to be demolished

AAP logoAAP 30/09/2016 Rebecca Gredley

Perth's "Taj Mahal on the Swan", the unfinished, derelict Perth mansion owned by wealthy Indian couple the Oswals, is to be finally demolished.

It's estimated it will cost $300,000 to demolish the graffiti-covered property, with the council to pursue the Oswals for the money.

The demolition, slated to begin on Monday, has been "a long time coming" and will take two to three weeks, a Shire of Peppermint Grove spokesman told AAP .

Although they still own the land, Pankaj and Radhika Oswal abandoned the mansion in 2011 after their Burrup Fertilisers empire collapsed a year earlier and they left Australia.

The ANZ were appointed as receivers for the company in December 2010, selling the Oswal's shares for $US560 million in January 2012, which the couple said was undervalued by $US800 million.

The Oswals wanted $1.5-2.5 billion in damages from the ANZ and receivers PPB Advisory over the sale of the fertiliser company.

Settlement was reached between the ANZ, receivers and the Oswals last week after a long running and high-profile legal feud. It is believed to total more than $200 million.

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