Lifestyle International gets residential plot in B'luru at Rs 15.2 cr

Kabir Lumba, Chairman of the Board of Lifestyle International, has purchased a residential plot in Epsilon, a prime Bengaluru location, for Rs 15.2 crore.

Madhuri Genomal, wife of Sunder Genomal, MD of Page Industries, and her daughter, Pamela Kripalani, had previously purchased the property jointly owned by Lumba and his wife.

The property is located on Yemlur Main Road, Bengaluru, which is off the Old Airport Road, in the upscale gated community of Yemlur Homeowners Association, which spans 10,000 square feet. Epsilon, according to documents accessed by zapkey (dot) com, by Invitation projects.

According to a person familiar with the situation, the sale between the two parties was completed last month for vacant land in Epsilon. Jockey's underwear manufacturer Jockey has Page Industries as one of its most important licensees worldwide.

Lumba is currently based on Jumeirah Island in Dubai and has over 14 years of experience leading Lifestyle and Home Centre businesses in India before becoming CEO of Max Middle East in 2018 and then CEO of Landmark Group.

Epsilon is a premier residential development in east Bengaluru, with large floor plans ranging from 7,000 to over 10,000 square feet. The villa plots are priced between Rs 13,000 and Rs 15,000 per sq ft, depending on the plot size and location.

Epsilon is Bengaluru's most prestigious address, and it is home to some of the city's most prominent figures, including Bigbasket co-founder Abhinay Choudhari and Bjyu Raveendran, among others.

Silicon city has recently seen a number of large residential deals, including plots. Anand Surana of Bengaluru-based generics firm Micro Labs and Raj Menda, corporate chairman of RMZ Group, are among those who have purchased the property in the Blessington project. The purchase of two properties in Bengaluru's billionaire's boulevard, Koramangala, by Kris Gopalkrishnan, followed.

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