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.
The 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. An email sent to Murthy on the buy did not elicit response till the time of going to press.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. 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. According to reports received by TOI, the luxury property witnessed some resale activity, with several high-profile tenants occupying the premises. 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, 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 16,000sqft apartment in Embassy One near Hebbal at per-sqft rate of about Rs 31,000.
