by THO
Infosys founder NR Narayana Murthy has reportedly snapped up a second luxury apartment in Bengaluru’s Kingfisher Towers for a staggering ₹50 crore. The 8,400-square-foot unit on the 16th floor comprises four bedrooms and five dedicated car parking spaces.
A report published by the Times of India said the deal sets the price at ₹59,500 per square foot, making it one of the highest in the city.
The 50-crore property deal sets a benchmark in the Bengaluru real estate market
The report states that Murthy’s new flat was bought from a Mumbai-based businessman who had owned the property for nearly a decade, with Sadhwani Real Estate Holdings facilitating the deal.
Murthy’s move has set a new price benchmark in the area. According to the deal, the price has been set at ₹59,500 per sq foot, making it one of the highest in the city’s upscale commercial centre.
All that you need to know about Kingfisher Towers
Located inside the central business district (CBD), UB City offers many experiences, from residential quarters to businesses, and has been the talk of the town since its inception.
UB City, one of the most luxurious upscale neighbourhoods in Bengaluru, features integrated complexes that include large office buildings, Oakwood service apartments, and a posh shopping centre called The Collection.
The Billionaires‘ Tower, also known as the Kingfisher Towers, is a 34-story exclusive residential complex with about 81 apartments (4 BHKs) across three blocks on a sprawling 4.5-acre site. The development offers residences averaging 8,321 square feet.
The land, once Vijay Mallya’s ancestral home, was developed in a joint venture between the Prestige Group and Mallya’s company in 2010. These luxury apartments were initially sold for ₹22,000 per square foot.
Initially priced at around ₹20 crore, realtors say the resale value of the apartments has shot up to ₹30 crore and above, with an average monthly rental of ₹10 lakh for an almost 8000 sq ft apartment.
Kingfisher Tower isn’t just a residential development. Brokers say that personalised concierge services, exclusive wellness amenities, expansive living spaces, high ceilings, floor-to-ceiling windows and state-of-the-art amenities make a statement for luxury and elegance.
Strategic location
The strategically planned location also adds to the real estate value. Brigade Road and MG Road, Bengaluru’s best retail destinations, are located a few kilometres east of UB City. The site is close to Lavelle Road, one of the city’s most desirable neighbourhoods for business and residential use.
Bengalureans’ best places to shop are Brigade Road and MG Road, which are only a few kilometres east of UB City.
It is bordered on the west by the lush Cubbon Park, one of Bengaluru’s few open areas and the city’s lifeblood. The property is close to Lavelle Road, one of Bengaluru’s most sought-after neighbourhoods for business and residential purposes.
“The highly sought and city-centric location, especially close to government offices, makes it more desirable for businesses, and we see top companies have set up their operations inside UB City,” said Sunil Singh, MD of Realty Corp.
A helipad to dodge Bengaluru’s traffic?
The property’s UB Tower features a dedicated helipad to dodge Bengaluru’s traffic, making the 15-minute drive from the city to Kempegowda International Airport. Realtors, however, pointed out that the helipad is only utilised in emergency situations because helicopters are not typically permitted to land on the tower.
The project has a stunning roofline, including a clubhouse, swimming pool and tennis courts. The project has two swimming pools on every five floors, a gym and a spa, alongside other amenities. Brokers added that there are 24×7 coffee shops and a luxury salon, among other amenities. Together, all the everyday amenities sprawl across 50,000 -75,000 sq ft
Other top deals in Bengaluru
The recent deal follows previous high-profile transactions in Kingfisher Towers, including one where Sudha Murty, Murthy’s wife, bought a flat for ₹29 crore on the 23rd floor four years ago.
The report said that other prominent residents include Biocon’s Kiran Mazumdar-Shaw and Karnataka Minister KJ George’s son, Rana George.
Prominent business executives such as Kiran Mazumdar Shaw of Biocon, Sachin Bansal of Flipkart, Ananth Narayanan from Mensa Brands, and Nikhil Kamath of Zerodha reside in the wealthy residential areas. Each resident pays about ₹5 lakh in maintenance for a quarter. The project’s amenities include a gorgeous roofline, local brokers told HT.com.
Earlier this year, Ajit Isaac, chairman and managing director of Bengaluru-based company Quess Corp, bought a 10,000 sq ft property worth ₹67.5 crore in the Koramangala area, the IT capital’s billionaire street. The deal’s per sq ft price is around ₹70,300 per sq ft, making it the most expensive deal in Bengaluru so far, they said.
With inputs from Souptik Datta in Bengaluru
