Bengaluru: This Indian Billionaire Buys 'Costliest Ever' Real Estate Plot; Details Here

The most expensive property in Bengaluru was recently purchased by Ajit Abraham Isaac, the chairman and founder of Quess Corp. The 10,000 square foot plot, located in Koramangala 3rd block, also referred to as “billionaire street,” is valued at Rs 67.5 crore. Reportedly, this purchase has set a new standard for the city’s real estate market.

According to a report by the Economic Times, Arvind and Geeta Reddy sold the site, who previously owned the plot. The property deal that has been dubbed the most expensive in Bengaluru is valued at an effective rate of Rs 70,300 per square foot. This is more than the last one to close in the area, which was TVS Motors purchasing a 9488-square-foot property for Rs 65 crore at an effective rate of Rs 68,508 per square foot. It’s unclear exactly what Ajit Abraham Isaac intends to do with the property, but speculation has it that he may rebuild it for his use or utilise it as an investment.

The purchase was made by Ajit Abraham Isaac two years later, for Rs 52 crore, or Rs 58,000 per square foot, for a bungalow spanning 9,507 square feet in the same location. Reportedly, an NRI living in Singapore, Brijesh R Wahi, was the seller of the property and the date of registration was June 18, 2021.

As per brokers, the third block in Koramangala is the costliest of the six because of its bigger plot sizes and the presence of billionaires there. Due to its location, it is referred to as “billionaire street” and is home to several prominent businesspeople, such as the founders of Infosys, Nandan Nilekani and Kris Gopalakrishnan, Devi Shetty of Narayana Health, and Binny Bansal, who was once the founder of Flipkart.

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

Ajit Abraham Isaac played a crucial part in guiding Quess Corp. to its current status as the top supplier of business services in India. The Bengaluru-based startup was founded in 2007 and has now grown to 644 locations throughout India, Southeast Asia, and North America.