Infosys founder NR Narayana Murthy bought a second flat in the upscale Kingfisher Towers in Bengaluru. The luxurious flat, valued at Rs 50 crore, has established a new benchmark for residential property prices in the area, sources told TOI. The expansive residence, situated on the sixteenth floor, spans approximately 8,400 sft. It features four bedrooms and includes five designated car parking spaces.
This real estate transaction appears to have set a new benchmark, commanding Rs 59,500 per sft for an apartment, standing as one of the most expensive rates in the bustling commercial centre of the city. An email sent to Murthy on the matter did not elicit a response till the time of going to press.
Kingfisher Towers at UB City houses bespoke apartments in the heart of the city. Built on a 4.5-acre land parcel, it has 81 apartments in three blocks. The luxurious development features an impressive 34-storey structure housing 81 luxury residences, each averaging 8,321 sft in size. The towers are built on land where Vijay Mallya’s ancestral home once stood. Prestige sold its share of 41 luxury apartments in Kingfisher Towers, a joint development executed between the Prestige Group and Mallya back in 2010. When the project was launched, apartments were sold at Rs 22,000 per sft.
Murthy bought the flat from a Mumbai-based businessman who purchased the property nearly a decade ago. Bengaluru-based Sadhwani Real Estate Holdings represented the seller. According to reports received by TOI, the luxury property witnessed some resale activity, with several high-profile tenants occupying the premises. Four years back, author and Rajya Sabha member Sudha Murty bought the initial flat on the 23rd floor for Rs 29 crore in the same luxury residential development. A few other prominent owners include Biocon executive chairperson Kiran Mazumdar-Shaw.
Two years ago, Karnataka energy minister KJ George’s son, Rana George, bought a flat valued at Rs 35 crore. In 2017, the Embassy Group sold an apartment for Rs 50 crore to Ajit Prabhu, chairman and CEO of engineering outsourcing company Quest Global, making it the biggest residential deal ever in Bengaluru. Prabhu bought the 16,000 sft apartment in Embassy One near Hebbal at a per sft rate of about Rs 31,000.