The TVS Motor company has bought a residential property for Rs 65 crore in the most expensive residential property transaction in Bangalore.
The residential villa, spread over 3923 sq ft with a total plot area of 9488 sq ft, is located on Billionaire street in Koramangala’s third block.
“TVS Motor was represented by Its Vice President- Legal, R.Murali. The bungalow was purchased from Ravi Khemka and was registered recently,” mentioned a sales document shared by Zappkey.
It could not be ascertained if the properties have been bought as an investment or for personal use after redevelopment.
Koramangala, and its third block, popularly known as the billionaire road, has become a coveted neighbourhood as HNIs look for marque deals.
“Koramangala suburb strongly connects with the new entrepreneurs, and prices remain high. The demand for bigger homes has increased, and the latest deal is expected to buoy big-ticket residential transactions in the city,” said Bhavesh Kothari, founder of Property First, a luxury property broking firm.
Bengaluru’s old money set is mostly located in the heart of the city, like Fairfield Layout off Race Course Road and Sadhashivanagar.
The locality has seen at least a dozen big-ticket tractions in recent months, including NRJN Family Trust established by Nandan M Nilekani, SGK Investment Trust, the family office of Kris Gopalkrishnan buying two residential properties. for Rs 75 crore last year.
Quess Corp executive chairman Ajit Isaac has also purchased a bungalow in Bengaluru’s boulevard of billionaires for nearly Rs 52 crore.
Among the well-known industry leaders who reside in this locality are Infosys co-founder Nandan Nilekani, Dr Devi Shetty and Rajeev Chandrasekhar. Flipkart’s co-founders Sachin Bansal and Binny Bansal have homes here too.