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NRJN Family Trust established by Nandan NilekaniCo-Founder and Non-Executive Chairman of Infosys Technologies, bought a residential Assets worth around Rs 59 crore in one of the largest property transactions in the country’s tech capital.
The 9,600 sq ft property, with a total built-up area of 4,200 sq ft, is located in Block 3, Koramangala Extension, Bangalore,
The deal was entered into on September 26, according to a registry document shared by ZapKey. This property was earlier with Sumanesh Kumar.
Nilekani already has another property in Koramangala third block, which is mentioned in the document. This area is famous as the Boulevard of Billionaires. In April this year, NRJN Family Trust had bought a property in the same area for Rs 58 crore. The property was spread over 9,600 sq ft and has a built up area of 3,082 sq ft.
India’s tech capital is witnessing investment in second homes by ultra-high net worth individuals (UHNIs) as the residential segment has witnessed a sharp recovery since the outbreak of COVID-19 in the country.
According to property consultant Knight Frank, 29% of Indian UHNIs’ assets are allocated for the purchase of residential property.
Among the big deals that were closed recently in Bengaluru was SGK Investment Trust, the family office of Kris Gopalakrishnan, which acquired two properties in the Koramangala area for around Rs 76 crore. Gopalakrishnan is also Infosys Co-founder and former CEO. ques corp, Working president Ajit Isaac bought a bungalow in Koramangala for around Rs 52 crore and Raja Bagmane acquired a residential property with 3,400 sq ft built-up area for Rs 40 crore.
Nilekani has been the non-executive chairman of the country’s second largest software developer since August 2017 and is also credited with creating Aadhaar, India’s identity card scheme, as the first head of the Unique Identification Authority of India. He has backed companies such as Tracxn, RailYatri, ShopX, Power2SME, Ninjacart and Fortigo, and in 2017 founded a venture capital fund called Fundamentum with Helion Ventures co-founder Sanjeev Agarwal.
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