The property has a total built-up area of 4,200 sq ft and is situated on the 3rd Block of Koramangala Extension. The plot area is around 9,600 sq ft, the sale deed showed.
The NRJN Family Trust was represented by its corporate trustee Entrust Family Office Legal and Trusteeship Services Pvt Ltd. The deal was registered on September 26, 2022.
Nilekani and Rajmohan Krishnan, the authorised signatory on the sale deed, did not respond to queries sent by Moneycontrol.
In April this year, the NRJN Family Trust had bought a property for Rs 58 crore in the same area. The property was spread over 9,600 square feet and has a built-up area of 3,082 sq. ft.
Real estate brokers said that this is perhaps the most expensive deal in the area and that it is the prime location and the gentry residing in that area that makes it popular.
In May this year, the owner of Shankara Building Products Ltd, Sukumar Srinivasan, bought two properties in Bengaluru’s posh Koramangala area for Rs 44.60 crore. Srinivas on March 21, 2022, offloaded over 10 lakh shares of the company for Rs 75 crore through an open market transaction. According to the block deal data on NSE, he had sold 10 lakh shares at an average price of Rs 755 apiece. This took the total deal value to Rs 75.50 crore.
Given the limited supply of plots and independent houses in this block in Koramangala, it has high demand from ultra-high net worth individuals, said real estate experts.
The trust is owned by Nilekani and his family. Nilekani was estimated by Forbes to have a net worth of $3 billion.
Koramangala’s 3rd Block is considered to be one of the richest enclaves in India’s IT capital, which is home to tech giants such as Infosys and Wipro, apart from startups.
Some of the country’s most successful entrepreneurs have homes in Koramangala 3rd Block, according to local brokers. Among them are Devi Prasad Shetty of Narayana Health and Flipkart founders Sachin Bansal and Binny Bansal.
Of the six blocks in the area, the 3rd Block is the most expensive because of the larger plot sizes and the fact that it is inhabited by billionaires, brokers said. Bungalows that are spread across 4,000 sq. ft. command a price of just about Rs 25,000 per sq. ft., they said.
In January, Sriram Nadathur, son of Infosys co-founder NS Raghavan, sold a residential property in Koramangala 3rd Block for Rs 11.6 crore.
In August last year, Infosys co-founder Kris Gopalakrishnan bought two properties worth Rs 76 crore in the area.
The promoter of Bengaluru -based Quees Corp ought a bungalow spread across 9,507 sq. ft. in the Koramangala area for Rs 52 crore last year. Ajit Abraham Isaac bought the property from Brijesh R Wahi, a Singapore-based NRI. The cost of the property located in Koramangala Extension worked out to about Rs 58,000 per sq. ft.
Flipkart founder Sachin Bansal utilised the proceeds from the sale of his stake in the company to buy a 10,000 sq. ft. property in this area at the rate of Rs 45,000 per sq. ft. He had bought a property in the area for Rs 25,000 per sq. ft. in 2016.
Anesh Shetty, son of Narayana Health chairman Shetty, purchased an independent house worth Rs 18.57 crore in Koramangala in January last year.
Other high-profile deals in Koramangala in the past couple of years, as per documents accessed by Zapkey include those by NRJN Family Trust (Rs 39.8 crore in December 2019), Raja Bagmane (Rs 43.2 crore in November 2019), and Nilekani’s daughter Jhanavi (Rs 30 crore in December 2019).
Prestige Kingfisher Towers in Ashok Nagar witnessed some of the priciest property deals in Bengaluru, brokers in the area said.
In June 2020, Sudha Murthy, Sudha Murthy wife of Infosys founder NR Narayana Murthy, bought a property in this project for Rs 28 crore, according to documents shared by Zapkey.
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