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Ajit Isaac, Chairman and Managing Director of Quess Corp, has recently purchased a 10,000 square foot plot in Bengaluru's esteemed Koramangala area. The transaction, valued at INR 67.5 crore, has set a new standard for real estate deals in the city. The property, located in Koramangala's third block, known as 'Billionaire Street', was acquired from sellers Arvind and Geeta Reddy at a rate of INR 70,300 per square foot.
Koramangala's third block isn't called 'Billionaire Street' without reason. Known for its upscale residences and exclusive ambiance, Koramangala's third block boasts prominent residents such as Infosys co-founders Nandan Nilekani and Kris Gopalakrishnan. This purchase follows Isaac's previous investment in the area, where he acquired a bungalow spanning 9,507 square feet for INR 52 crore in 2021.
The third block of Koramangala is highly sought after due to its limited availability of land for sale, leading to intense competition among wealthy buyers. Over the past five years, property prices in this area have risen by more than 30%, surpassing the overall real estate market in Bengaluru. Known for its spacious streets adorned with trees and luxurious homes, the neighborhood provides a peaceful and safe setting that appeals to affluent individuals. Despite its serene environment, the third block of Koramangala is conveniently located near Bengaluru's main business districts, making it a preferred choice for successful professionals.
Isaac isn't the only prominent figure who calls Koramangala's third block home. Past reports suggest that the Flipkart co-founder Sachin Bansal has also invested in a property there for INR 45 crore. This concentration of wealth further cements the area's reputation as a haven for India's elite.
Isaac's latest venture reflects both the city's evolving real estate dynamics and his strategic focus on Bengaluru's upscale neighborhoods. With Bengaluru's residential property prices experiencing significant growth, this acquisition aligns with the city's upward trend in the real estate sector.
Quess Corp, founded in 2007 by Ajit Isaac, has emerged as a prominent player in the staffing industry, with operations spanning nine countries and employing over 5 lakh individuals. Beyond his corporate pursuits, Isaac's philanthropic efforts demonstrate his commitment to driving positive change in society.
As Bengaluru's Billionaire Street continues to attract investors and residents, Isaac's recent acquisition not only establishes a new benchmark in the city's real estate landscape but also highlights the appeal of Koramangala's premier neighborhoods for discerning buyers.
Isaac spent INR 52 crore in 2021 to purchase a 9,507 sq ft bungalow in the same location. The property, which is 9507 square feet in size and is situated in Koramangala Extension, was priced at about INR 58,000 per square foot. This strategic focus on Koramangala reflects Bengaluru's booming real estate sector, particularly in upscale neighborhoods. With limited land availability and rising demand from discerning buyers, the area is poised for continued growth.
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