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Chairman of Quess Corp purchases property in Bengaluru for ₹67.5 crore

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Quess Corp chairman buys property in Bengaluru for ₹67.5 crore

In a significant real estate transaction, Ajit Isaac, Chairman and managing director of Quess Corp, has purchased a 10,000 square feet plot in Bengaluru’s Koramangala 3rd block for ₹67.5 crore. The deal, at an effective rate of ₹70,300 per square feet, surpasses the previous record set in the same locality.

The property was acquired from Arvind Reddy and Geeta Reddy, with Colliers serving as the advisor for the transaction. Bengaluru, known for its rising real estate prices, boasts some extravagant areas like Koramangala 3rd block, also referred to as the ‘billionaire street’. Notably, the locale is home to industry giants such as Nandan Nilekani, Kris Gopalkrishnan, Devi Shetty, Sachin, and Binny Bansal.

This acquisition marks a milestone in Bengaluru’s real estate market, setting a new benchmark for property prices in the area. Although Bengaluru still falls behind Mumbai in terms of exorbitant real estate rates, the city sees its fair share of high-value property transactions. This purchase by Ajit Isaac underscores the continued interest and investment in the city’s prime real estate locations.

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