08 , December , 2024
In a recent development, Infosys founder NR Narayana Murthy has bought a second flat in upscale Kingfisher Towers in Bengaluru for Rs 50 crore, setting a new benchmark for residential property prices in the CBD area.
This four-bedroom luxurious residence on the 16th floor spans approximately 8,400sqft. It comes with five designated car park spaces. Four years ago, Murthy's wife and author Sudha Murty, now a member of the Rajya Sabha, had bought a flat on the 23rd floor for Rs 29 crore.
The transaction, commanding Rs 59,500 per sqft for an apartment, marks one of the most expensive rates in the city's bustling commercial centre. The 4.5-acre Kingfisher Towers at UB City houses 81 bespoke apartments in three blocks in the heart of the city. Each residence in the 34-storey structure averages 8,321sqft in size.
Interestingly, 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 Prestige Group and Mallya in 2010. When the project was launched, apartments were sold at Rs 22,000 per sqft.
Murthy bought the flat from a Mumbai-based businessman, who had purchased the property nearly a decade ago. Bengaluru-based Sadhwani Real Estate Holdings represented the seller.
