- By Aditya Jha
- Sat, 07 Dec 2024 01:18 PM (IST)
- Source:JND
Infosys founder NR Narayana Murthy has reportedly bought a second luxury flat in Bengaluru's prestigious Kingfisher Towers for Rs 50 crore. The significant move from the businessman has established a new price benchmark for residential properties in India. The 8,400-square-foot expansive residence is situated on the sixteenth floor. It has four bedrooms and includes five designated car parking spaces. The deal reportedly sets the new price at Rs 59,500 per square foot, making it one of the highest in the city’s upscale commercial center.
Kingfisher Towers, located in the UB City area, were built on the ancestral lands of Vijay Mallya. It comprises a total 81 luxury apartments and is spread across three blocks on a 4.5-acre site. It was developed in a joint venture between the Prestige Group and Mallya's company in 2010, and it offers residences averaging 8,321 square feet. The apartments initially sold for Rs 22,000 per square foot.
Narayan Murthy has bought the flat from a Mumbai-based real estate businessman who purchased the property nearly 10 years ago. The property witnessed some activities related to resale in which several high-profile tenants occupied the premises. Earlier, four years back, the wife of Narayan Murthy and Rajya Sabha member Sudha Murty bought a flat on the 23rd floor for Rs 29 crore in the same residential development.
Apart from Narayan and Sudha Murthy, there are other prominent personalities who bought the property in the luxurious apartment. One of the most prominent owners is Kiran Mazumdar-Shaw, Biocon executive chairperson.
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While Karnataka energy minister KJ George's son Rana George bought a flat for Rs 35 crore two years ago, the Embassy Group sold an apartment to Ajit Prabhu, chairman and CEO of engineering outsourcing company Quest Global, for Rs 50 crore in 2017, making it the biggest residential deal in Bengaluru. Prabhu bought the apartment in Embassy One near Hebbal at a per sft rate of about Rs 31,000.