Bengaluru’s ‘costliest ever’ real estate deal? Ajit Isaac, the managing director of Quess Corp., just lately made headlines with the acquisition of a ten,000 sq. foot plot in Bengaluru’s Koramangala space. The plot, situated on the ‘Billionaire Street’ of Koramangala’s third block, was acquired for Rs 67.5 crore, making it the costliest real estate deal ever recorded in Bengaluru, said an ET report.
This transaction, sealed at a fee of Rs 70,300 per sq. foot, has set a brand new normal within the area’s property market.People aware of the matter said that the deal was finalised final week, with the property beforehand owned by Arvind Reddy and Geeta Reddy. The most up-to-date transaction on this space was performed by TVS Motor at roughly Rs 68,000 per sq. ft.
While the specifics of Isaac’s intentions with the property stay unknown, it is speculated whether or not it should function an funding or bear redevelopment for private use. Neither the deal advisor, Colliers, nor Isaac himself had been accessible for remark.
Isaac’s position in steering Quess Corp. to its present place as India’s main enterprise providers supplier has been pivotal. Since its institution in 2007, the corporate, headquartered in Bengaluru, has expanded its footprint to 644 areas throughout India, Southeast Asia, and North America.
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Koramangala, a southern suburb of Bengaluru, has develop into a bustling hub for entrepreneurship. Its prime location and shut proximity to town’s enterprise centres have made it a fascinating neighbourhood for each startups and self-made billionaires.
Koramangala’s third block has earned a fame as an unique enclave, residence to a notable lineup of profitable entrepreneurs. Among them is Sachin Bansal, co-founder of Flipkart, who bought an expensive property price ₹45 crore within the space in 2019.
With his current property acquisition, Isaac will be part of the ranks of notable neighbours corresponding to Nandan Nilekani and Kris Gopalakrishnan, co-founders of Infosys, together with famend cardiac surgeon Dr. Devi Shetty and well-known entrepreneur and politician Rajeev Chandrasekhar.
India’s luxurious real estate market is experiencing a major uptick in gross sales of high-end residential properties priced at a minimal of Rs 50 crore. Industry estimates point out that whole gross sales for such luxurious properties surged to Rs 4,319 crore in 2023, marking a notable 51% improve from Rs 2,859 crore in 2022.
Mumbai, Delhi-NCR, and Bengaluru are on the forefront of this gross sales growth, witnessing sturdy demand for high-end properties.
This transaction, sealed at a fee of Rs 70,300 per sq. foot, has set a brand new normal within the area’s property market.People aware of the matter said that the deal was finalised final week, with the property beforehand owned by Arvind Reddy and Geeta Reddy. The most up-to-date transaction on this space was performed by TVS Motor at roughly Rs 68,000 per sq. ft.
While the specifics of Isaac’s intentions with the property stay unknown, it is speculated whether or not it should function an funding or bear redevelopment for private use. Neither the deal advisor, Colliers, nor Isaac himself had been accessible for remark.
Isaac’s position in steering Quess Corp. to its present place as India’s main enterprise providers supplier has been pivotal. Since its institution in 2007, the corporate, headquartered in Bengaluru, has expanded its footprint to 644 areas throughout India, Southeast Asia, and North America.
ALSO READ | Tata Motors to fabricate Jaguar Land Rover vehicles at new $1 billion plant in India: Report
Koramangala, a southern suburb of Bengaluru, has develop into a bustling hub for entrepreneurship. Its prime location and shut proximity to town’s enterprise centres have made it a fascinating neighbourhood for each startups and self-made billionaires.
Koramangala’s third block has earned a fame as an unique enclave, residence to a notable lineup of profitable entrepreneurs. Among them is Sachin Bansal, co-founder of Flipkart, who bought an expensive property price ₹45 crore within the space in 2019.
With his current property acquisition, Isaac will be part of the ranks of notable neighbours corresponding to Nandan Nilekani and Kris Gopalakrishnan, co-founders of Infosys, together with famend cardiac surgeon Dr. Devi Shetty and well-known entrepreneur and politician Rajeev Chandrasekhar.
India’s luxurious real estate market is experiencing a major uptick in gross sales of high-end residential properties priced at a minimal of Rs 50 crore. Industry estimates point out that whole gross sales for such luxurious properties surged to Rs 4,319 crore in 2023, marking a notable 51% improve from Rs 2,859 crore in 2022.
Mumbai, Delhi-NCR, and Bengaluru are on the forefront of this gross sales growth, witnessing sturdy demand for high-end properties.
