An unfinished waterfront mansion inspired by the Taj Mahal is back on the market in Ocean Springs, Mississippi, with a new asking price of $2.5 million. The 4,402-square-foot property sits on nearly an acre along the Gulf Coast. It was first listed for $2 million in 2016. Ten years after that first listing, and 13 years after construction began, the steel-and-concrete home is still unfinished. It is waiting for a buyer willing to complete its ambitious design. Building permits for the property were first filed in 2008 by Biloxi doctor Dr Pravin Saija, according to the Sun Herald. Saija planned to use the home as his main residence. But finding contractors who could follow the project’s detailed plans proved difficult, slowing the work over the years. Rachel Allen, a listing agent with Coastal Realty Group, told Realtor.com that the owner has chosen to sell the property instead of finishing the remaining work himself. “The owner started building the home 13 years ago and had trouble finding a contractor to finish the vision the way he wanted,” Allen told Realtor.com. “Since then, it has been left as it was, and it fell to the wayside. The seller is ready to retire, move on, and let someone else finish the vision.”
Intricate layout and structural foundations
The five-bedroom home stands 30 feet above sea level and has 126 feet of direct water frontage. It was built with insulated concrete forms. The main structure, foundation, and outside walls are all in place. The design includes south-facing turrets with water views and large outdoor terraces for seating. There is also a primary bedroom suite on the top floor and a distinctive tower that could be turned into guest quarters. The property has a rooftop lounge area as well, although the roof now needs structural repairs. The main structural work is finished, but the inside is still an empty shell. Finishing the home will require basic utility systems, including complete electrical wiring and plumbing. Drywall, interior fixtures, kitchen countertops, and cabinets will also need to be installed. Allen estimated to Realtor.com that finishing the inside and cleaning up the grounds would cost between $800,000 and $1.2 million. The final cost would depend on the materials and finishes chosen by the new owner. “The construction of it is magnificent, and it is 30 feet above sea level,” Allen explained to Realtor.com. “The most expensive parts have already been done. We wanted to show what the house could be. A lot of people appreciate seeing the potential.”
Material costs drive updated valuation
The $500,000 increase from the 2016 asking price reflects changes in local property values and the current value of construction materials already on the property, according to the listing agent. “It could be completely done in about six months,” Allen told Realtor.com. “The reason for the increase in price is the increased cost of additional materials that are also available.” Marketing materials for the property include computer-generated pictures of possible finished interiors. They are shown alongside photographs of the unfinished concrete structure to help potential buyers picture what the home could look like when completed. “What makes this listing so compelling is not simply its size or architecture,” Allen said. “It is the mystery, history, and enormous potential behind it. People want to see inside it, understand why it was never completed, and imagine what it could ultimately become.” Allen said the current owner thought about finishing the work before putting the property up for sale. In the end, he decided not to take on the project. “He hopes someone makes it how they want it,” she said.
Flexible usage options on the coast
The property is about 20 minutes from downtown Ocean Springs and has no restrictions on short-term rentals. According to Coastal Realty Group, the estate could be used as a private home, a corporate retreat, a wedding venue, or a boutique hotel. Any commercial use or redevelopment would still have to follow local zoning rules and receive the required building permits and administrative approvals. Ocean Springs has also received wider attention as a coastal destination. It recently appeared on a USA Today list of the top beach communities to live in. Because the property has a specialized design and would require a large investment to finish, real estate agents expect much of the interest to come from outside the local area. “Most likely, it will not be someone already living in the local market,” Allen told Realtor.com. “This property will require a buyer with a unique vision, the resources to complete it, and the ability to recognize an opportunity unlike anything else currently available on the Gulf Coast.”