Lavelle Road's ancestral bungalow sold at Rs 27.5 cr in Bengaluru
Real Estate

Lavelle Road's ancestral bungalow sold at Rs 27.5 cr in Bengaluru

Two recent real estate transactions set new benchmarks in Bengaluru. An ancestral bungalow on Lavelle Road spread across 4,300 sq ft was sold at Rs 27.5 crore, which works out to Rs 64,000 per sq ft for the land.

The bungalow has a built-up area of 6,000 sq ft. Around five years ago, the land value on Lavelle Road was Rs 40,000 per sq ft.

Sadhwani Real Estate Holdings might have facilitated both the transactions.

Prestige Group has resold an 8,321 sq ft apartment in Kingfisher Towers for Rs 35 crore on Vittal Mallya Road.

Kingfisher Towers at UB City has a limited supply of bespoke apartments. It is built on 4.5 acres of land parcel. The 34-storey ultra-luxury apartment has 81 apartments across three blocks.

These towers are built on the land of Vijay Mallya’s ancestral home.

Prestige Group has sold its share of 41 luxury apartments in Kingfisher Towers in joint development executed between the Prestige Group and Vijay Mallya in 2010. After the launch of the project, the apartments were sold at Rs 22,000 per sq ft.

Chairman and Managing Director of Prestige Group, Irfan Razack, said that in the luxury real estate market, the inventory is limited. It is a collector’s item and sells at a premium price point. The location and the amenities have increased the resale value to a new high.

Earlier in 2017, the Embassy Group sold an apartment for Rs 50 crore to the chairman and chief executive of Quest Global, Ajit Prabhu, the biggest-ever residential deal in Bengaluru. Prabhu bought the 16,000 sq ft apartment in Embassy One near Hebbal at about Rs 31,000 per sq ft.

Image Source

Also read: 2BHK houses witnesses 42% demand share from homebuyers

Two recent real estate transactions set new benchmarks in Bengaluru. An ancestral bungalow on Lavelle Road spread across 4,300 sq ft was sold at Rs 27.5 crore, which works out to Rs 64,000 per sq ft for the land. The bungalow has a built-up area of 6,000 sq ft. Around five years ago, the land value on Lavelle Road was Rs 40,000 per sq ft. Sadhwani Real Estate Holdings might have facilitated both the transactions. Prestige Group has resold an 8,321 sq ft apartment in Kingfisher Towers for Rs 35 crore on Vittal Mallya Road. Kingfisher Towers at UB City has a limited supply of bespoke apartments. It is built on 4.5 acres of land parcel. The 34-storey ultra-luxury apartment has 81 apartments across three blocks. These towers are built on the land of Vijay Mallya’s ancestral home. Prestige Group has sold its share of 41 luxury apartments in Kingfisher Towers in joint development executed between the Prestige Group and Vijay Mallya in 2010. After the launch of the project, the apartments were sold at Rs 22,000 per sq ft. Chairman and Managing Director of Prestige Group, Irfan Razack, said that in the luxury real estate market, the inventory is limited. It is a collector’s item and sells at a premium price point. The location and the amenities have increased the resale value to a new high. Earlier in 2017, the Embassy Group sold an apartment for Rs 50 crore to the chairman and chief executive of Quest Global, Ajit Prabhu, the biggest-ever residential deal in Bengaluru. Prabhu bought the 16,000 sq ft apartment in Embassy One near Hebbal at about Rs 31,000 per sq ft. Image Source Also read: 2BHK houses witnesses 42% demand share from homebuyers

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?