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NR Narayana Murthy, the founder of Infosys, has set a new benchmark for residential property prices in Bengaluru by purchasing a second flat in Kingfisher Towers for INR 50 crore. This luxury apartment, located on the 16th floor, spans 8,400 sq ft and includes five parking spaces. The property, located in the city's CBD, commands a price of INR 59,500 per sq ft. Kingfisher Towers, built on the site of Vijay Mallya's ancestral home, includes 81 high-end apartments and has witnessed notable sales, with other prominent owners such as Kiran Mazumdar-Shaw.
Infosys founder NR Narayana Murthy has purchased a second flat in the prestigious Kingfisher Towers in Bengaluru for INR 50 crore, setting a new high for residential property prices in the city's central business district (CBD). The four-bedroom luxury residence, located on the 16th floor, spans around 8,400 sq ft and includes five designated car park spaces. Four years ago, Murthy's wife, Sudha Murty, a member of the Rajya Sabha, bought a flat on the 23rd floor for INR 29 crore. Advertisement
This latest transaction, which priced the apartment at INR 59,500 per sq ft, is one of the highest rates in the area. However, an email sent to Murthy regarding the purchase did not receive a response by the time the article went to press. Kingfisher Towers, a 4.5-acre property in the heart of UB City, contains 81 luxurious apartments spread across three blocks. The 34-storey towers, which average 8,321 sq ft per apartment, were built on land that once housed Vijay Mallya's ancestral home.
The project was a joint development between the Prestige Group and Mallya, and the initial sale price for apartments when the project launched in 2010 was INR 22,000 per sq ft. Murthy acquired the flat from a Mumbai-based businessman who had purchased it nearly a decade ago, with Bengaluru's Sadhwani Real Estate Holdings representing the seller. There have been a number of notable resales in the building, with high-profile tenants occupying the apartments. Other prominent owners include Kiran Mazumdar-Shaw, Executive Chairperson of Biocon.
In recent years, other significant property deals in the area include Karnataka Energy Minister KJ George's son, Rana George, purchasing a flat valued at INR 35 crore, and Ajit Prabhu, Chairman and CEO of Quest Global, buying a 16,000 sq ft apartment for INR 50 crore at Embassy One in 2017, which was the largest residential deal in Bengaluru at the time.
Murthy's latest property acquisition highlights the ongoing trend of increasing property prices in Bengaluru's central business district, particularly in luxury developments like Kingfisher Towers. The area, known for its prestigious addresses, continues to attract high-profile buyers, including top executives and business leaders. As residential rates continue to soar, the real estate market in Bengaluru remains one of the most sought-after in India, with luxury apartments commanding record prices.
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