![Ajit Isaac-1200](https://img.etimg.com/thumb/msid-109364973,width-300,height-225,imgsize-21002,resizemode-75/ajit-isaac-1200.jpg)
This amounts to a per square feet price of Rs 70,300, setting a new benchmark for the Bangalore property market.
“The deal was closed last week and the property belonged to Arvind Reddy and Geeta Reddy. The last deal closed in this locality was clinched at around Rs 68,000 per sqft by TVS motor,” said people aware of the development.
It could not be ascertained if the property has been bought as investment or he is planning to redevelop the property for personal use.
Deal advisor Colliers refused to comment on the transaction.
Isaac has played a pivotal role in Quess Corp rapid growth as India's leading business services provider over the past decade. Established in 2007 and headquartered in Bengaluru, Quess today has presence across 644 locations in India, South East Asia & North America.
The southern suburb of Koramangala has emerged as a thriving hub for entrepreneurship in the bustling city of Bangalore. With its prime location and strategic proximity to the city's business centers, Koramangala has become a sought-after neighborhood for startups and self-made billionaires alike.
In fact, the third block of Koramangala has gained a reputation as an elite enclave, with an impressive roster of successful entrepreneurs calling it home. Among them is Flipkart co-founder Sachin Bansal, who acquired a lavish property worth Rs 45 crore in Koramangala in 2019.
With the newly acquired home, Isaac will count Nandan Nilekani and Kris Gopalakrishnan, co-founders of Infosys, Dr. Devi Shetty, a renowned cardiac surgeon, and Rajeev Chandrasekhar, a well-known entrepreneur and politician as neighbours.
As per the latest industry estimates, the luxury real estate market in India has witnessed a remarkable surge in the sales value of high-end homes priced at Rs 50 crore and above.
The sales value of these luxurious properties reached Rs 4,319 crore in 2023, which is a significant increase of almost 1.5 times compared to the value of Rs 2,859 crore recorded in 2022. The super luxury home sales were predominantly led by Mumbai, Delhi-NCR, and Bengaluru, which saw a substantial demand for such extravagant properties.
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