₹70,300 Per Square Foot: Bengaluru Sees Record-Breaking Property Deal. Meet The Buyer

Bengaluru: Ajit Abraham Isaac, the chairman and founder of Quess Corp, has purchased the most expensive property in Bengaluru, located in Koramangala 3rd block, also referred to as 'billionaire street'. The recent real estate deal involving a 10,000 square foot plot, valued at Rs 67.5 crore, has set a groundbreaking benchmark in the city's property market.

Purchased from Arvind Reddy and Geeta Reddy, this property deal in Bengaluru is making waves as the most expensive in the city. At an effective rate of Rs 70,300 per square foot, this recent property purchase has broken records, surpassing TVS Motors' previous acquisition, which had set the bar at Rs 68,508 per square foot for a 9488-square foot property bought for Rs 65 crore.  

Two years ago, Ajit Abraham Isaac acquired a bungalow spanning 9,507 square feet in the same area for Rs 52 crore, equating to Rs 58,000 per square foot. The property, purchased from Brijesh R Wahi, a Singapore-based NRI, was officially registered on June 18, 2021.  

Brokers claim that the third block in Koramangala stands out as the priciest among the six due to its expansive plot sizes and the notable presence of billionaires. Referred as "billionaire street," it is the residence of several prominent figures, including Infosys founders Nandan Nilekani and Kris Gopalakrishnan, Devi Shetty of Narayana Health, and Binny Bansal, the former co-founder of Flipkart.

Moreover, in June 2020, Sudha Murthy, the former head of Infosys Foundation and a Rajya Sabha MP, acquired a property within this project for Rs 28 crore.