Bengaluru: The ‘Costliest Ever’ Real Estate Plot Was Purchased by This Indian Billionaire; Details
Recently, Quess Corp. founder and chairman, Ajit Abraham Isaac, bought the priciest real estate in Bengaluru. Valued at Rs 67.5 crore, the 10,000 square foot site in Koramangala 3rd block is also known as “billionaire street.” This transaction is said to have established a new benchmark for the city’s real estate industry.
The Economic Times said that the location was sold by Arvind and Geeta Reddy, who had previously owned the land. The allegedly most costly real estate transaction in Bengaluru is said to be worth Rs 70,300 per square foot. This transaction exceeds the previous one in the region, when TVS Motors paid Rs 65 crore, or Rs 68,508 per square foot, for a 9488-square-foot property. Though rumor suggests that Ajit Abraham Isaac may reconstruct the property for his own use or utilize it as an investment, it is unclear precisely what he wants to do with it.
Two years later, Ajit Abraham Isaac paid Rs 52 crore, or Rs 58,000 per square foot, for a 9,507-square-foot home on the same site. The property was reportedly sold by Brijesh R Wahi, an NRI who resides in Singapore, and the registration date was June 18, 2021.
Brokers claim that due to the larger plot sizes and the concentration of billionaires in the third block of Koramangala, it is the most expensive of the six. Owing to its location, it is known as “billionaire street” and is home to a number of well-known businessmen, including Devi Shetty of Narayana Health, Binny Bansal, the former founder of Flipkart, and the founders of Infosys, Nandan Nilekani and Kris Gopalakrishnan.
Furthermore, in June 2020, Rajya Sabha MP and former head of the Infosys Foundation, Sudha Murthy, paid Rs 28 crore for a property in this building.
Ajit Abraham Isaac was instrumental in leading Quess Corp. to become the leading provider of business services in India today. Since its founding in 2007, the Bengaluru-based firm has expanded to 644 sites throughout North America, Southeast Asia, and India.
