Bengaluru’s ‘costliest ever’ real estate deal? Quess Corp MD Ajit Isaac buys plot on ‘Billionaire Street’ for Rs 67.5 crore | India Business News

Apr18,2024



Bengaluru's 'most expensive ever' real estate deal, Ajit Isaac is the Managing Director of Quess CorporationRecently he made headlines by purchasing a 10,000 square feet plot in Koramangala area of ​​Bengaluru. The plot, located on 'Billionaire Street' in the 3rd block of Koramangala, was bought for Rs 67.5 crore, becoming the costliest real estate deal ever in Bengaluru, an ET report said.
The transaction, sealed at a rate of Rs 70,300 per square foot, has set a new benchmark in the property market of the region. The deal was finalized last week, people familiar with the matter said, adding that the property was previously owned by Arvind Reddy and Geeta Reddy. , The most recent transaction in this area was by TVS Motor at around Rs 68,000 per square foot.
While the specifics of Isaac's intentions with the property are unknown, it has been speculated whether it will serve as an investment or be redeveloped for personal use. Neither the deal adviser, Colliers, nor Isaac himself was available for comment.
Isaac's role in taking Quess Corp to India's leading position business service provider Has been decisive. Since its inception in 2007, the company, headquartered in Bengaluru, has expanded to 644 locations across India, Southeast Asia and North America.
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Koramangala, the southern suburb of Bengaluru, has become a bustling hub of entrepreneurship. Its prime location and proximity to the city's business centers have made it a desirable neighborhood for both startups and self-made billionaires.
Koramangala's 3rd Block has earned a reputation as an exclusive enclave, home to a notable lineup of successful entrepreneurs. These include Flipkart co-founder Sachin Bansal, who bought a luxurious property worth ₹45 crore in the area in 2019.
with his condition property acquisitionIsaac will join the ranks of notable neighbors like Infosys co-founders Nandan Nilekani and Chris Gopalakrishnan as well as renowned cardiac surgeon Dr. Devi Shetty and well-known entrepreneur and politician Rajeev Chandrasekhar.
from india luxury real estate market Experiencing significant growth in high-end sales residential properties Price at least Rs 50 crore. Industry estimates indicate that total sales of such luxury properties are expected to rise to Rs 4,319 crore in 2023, a significant increase of 51% from Rs 2,859 crore in 2022.
Mumbai, Delhi-NCR and Bengaluru are at the forefront of this sales boom, witnessing strong demand for high-quality properties.



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