by THO
Ola Group Board member Amit Anchal has purchased a luxury villa for ₹13.5 crore in Adarsh Palm Retreat Villas, located on Marathahalli Outer Ring Road in East Bengaluru, property registration documents accessed through real estate data aggregation platform Zapskey showed.
The luxury property, sprawling a built-up area of 4,774 square feet, is part of a gated community comprising 800 red-roofed Victorian villas in a 110-acre project.
Built by Adarsh Developers, the township includes amenities such as a fully equipped gymnasium, multipurpose banquet, swimming pools, badminton courts, and indoor and outdoor play areas in a clubhouse spanning 80,000 square feet. Present on Marathahalli Outer Ring Road behind Intel, the project has close access to key public transportation, schools, IT parks and offices, restaurants, hospitals and other modern necessities.
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The big-ticket deal, which was registered on July 16, named duo Amit Anchal and Archana Singh as the buyers.
Narasimhan Babu Rajagopal and Sujatha Narasimhan Babu were the sellers, the registration documents showed.
Anchal partners with first-generation founders and respective company boards in bringing strategic direction to businesses, their scale-up as well as in guiding and assisting their corporate finance teams. He has led strategy and corporate finance for Ola and Ola Electric.
Queries emailed to Amit Anchal and Adarsh Developers by HT.com did not elicit a response. The story will be updated once a response is received.
Luxury property deals in Bengaluru
According to data sourced from Zapkey, Bellandur in South-east Bengaluru and Rajaji Nagar in the city’s Western corner emerged as the top performing areas for real estate deals priced at ₹10 crore and above during the first quarter of the ongoing calendar year.
Adarsh Palm Retreat Villas in Bellandur recorded five transactions for 3 and 4 BHK units spanning over 3,000 square feet during the three-month period.
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The upper end of the luxury housing market, ranging from ₹5 crore to ₹20 crore, is typically a niche and slow-moving market featuring limited inventory during a year.
A luxury project is conceptualized in a manner to avoid any differentiation, ensuring each unit within the facility has the same features. Pricing may, however, differ on account of vertical placement, with units on upper floors commanding a higher premium.
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The primary takers in this segment comprise high and ultra-high net worth individuals, rich non-resident Indians, C-suite executives, promoters and entrepreneurs.
