file photo Bengaluru, Founder of Infosys NR Narayana Murthy has bought another luxurious flat Kingfisher Towers At Rs 50 crore in Bengaluru, it set a new benchmark for residential property prices in the CBD area.
The luxurious four-bedroom residence on the 16th floor is spread over approximately 8,400 square feet. It comes with five designated car park spaces. Four years ago, Murthy’s wife and writer Sudha Murthy, now a Rajya Sabha member, had bought a flat on the 23rd floor for Rs 29 crore.
The transaction at Rs 59,500 per sq ft for an apartment is one of the most expensive rates in the busy commercial hub of the city. There was no response to an email sent to Murthy regarding the purchase till the time of filing this report.
The 4.5-acre Kingfisher Towers at UB City consists of 81 exclusive apartments across three blocks in the heart of the city. The size of each residence in the 34-storey structure averages 8,321 sqft. These towers have been built on the land where Vijay Mallya’s ancestral house once stood.
Prestige sold its stake in 41 luxury apartments in Kingfisher Towers, a joint development between the two Prestige Group And Mallya in 2010. When the project was launched, apartments were sold at Rs 22,000 per square foot.
Murthy had bought the flat from a Mumbai-based businessman who had purchased the property about 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. Some other major owners include Kiran Mazumdar-Shaw, executive chairperson of Biocon.
Two years ago, Rana George, son of Karnataka Energy Minister KJ George, had bought a flat worth Rs 35 crore.
In 2017, Embassy Group sold an apartment to Ajit Prabhu, chairman and CEO of engineering outsourcing company Quest Global, for Rs 50 crore, making it the largest residential deal ever in Bengaluru. Prabhu bought a 16,000 sq ft apartment in Embassy One near Hebbal at the rate of around Rs 31,000 per sq ft.
