Founder of Infosys NR Narayan Murthy Bought a second flat in a higher level. Kingfisher Towers Sources in Bengaluru told TOI that the luxury flat, priced at Rs 50 crore, has set a new benchmark for residential property prices in the region. Located on the sixteenth floor, the spacious residence is spread over approximately 8,400 square feet. It has four bedrooms and includes five car parking spaces.
This property transaction seems to have set a new benchmark, at Rs 59,500 per sft for an apartment, one of the most expensive rates in the city’s bustling commercial hub. An email sent to Murthy on the matter did not receive a reply till going to press.
Kingfisher Towers in UB City offers apartments in the heart of the city. Built on a 4.5 acre parcel of land, it has 81 apartments in three blocks. The luxury development features an impressive 34-storey structure with 81 luxury residences, each averaging 8,321 sft in size. The towers are built on the land where Vijay Mallya’s ancestral home once stood. Prestige sold its stake in 41 luxury apartments in Kingfisher Towers, a joint development between the Prestige Group and Mallya in 2010.
Murthy bought the flat from a Mumbai-based businessman who had bought the property about a decade ago. Bengaluru-based Sadhwani Real Estate Holdings represented the seller. According to reports received by TOI, the luxury property saw some resale activity, with several high-profile tenants occupying the premises. Four years ago, writer and Rajya Sabha member Sudha Murthy bought a flat on the 23rd floor in the same luxury residential development for Rs 29 crore. Some other prominent owners include Kiran Mazumdar Shaw, Executive Chairperson of Biocon.
Two years ago, Rana George, son of Karnataka Energy Minister KJ George, bought a flat worth Rs 35 crore. In 2017, the Embassy Group sold an apartment to Ajith Prabhu, chairman and CEO of engineering outsourcing company Quest Global, for Rs 50 crore, the biggest ever residential deal in Bengaluru. Prabhu bought a 16,000 sq ft apartment in Embassy One near Hebal at a rate of around Rs 31,000 per sft.