Ajit Isaac, chairman and managing director of Bengaluru-based company Quess Corp, has bought a 10,000 sq ft property worth ₹67.5 crore in Koramangala area, the IT capital’s billionaire street, making it the most expensive real estate deal in the city, said brokers aware of the development.
He has bought the property from Arvind and Geeta Reddy, they said.
The per sq ft price of the deal works out to be around ₹70,300 per sq ft, making it the most expensive deal in Bengaluru so far, they said.
Also Read: Bengaluru water crisis: Has it impacted real estate sales?
Deal advisor Colliers refused to comment.
The third block located in Koramangala is popularly known as Billionaire’s Street as most of the country’s successful entrepreneurs reside in this locality. Some of the residents include Infosys co-founder Nandan Nilekani, Kris Gopalakrishnan, Dr Devi Shetyy of Narayana Health, Flipkart founders Sachin and Binny Bansal.
Also Read: Bengaluru real estate: 70% realty assets in the city developed through joint development agreements
Of the six blocks in the area, only the third block is the most expensive because of larger plot sizes and the fact that it is inhabited by billionaires, brokers said.
In 2021, Isaac had bought a bungalow spread across 9,507 sq ft in the same area for ₹52 crore. The property is located in Koramangala Extension and measures 9507 sq ft and the per sq ft price then worked out to around ₹58,000 per sq ft.
Also Read: Flipkart’s Binny Bansal buys ₹32-crore home in Bengaluru
Credit: Source link