While Mumbai has long witnessed ultra-luxury real estate transactions, some worth as high as ₹ 100 crore, Bengaluru is fast catching up with demand for upscale residential properties. The IT capital is seeing an increase in the number of HNIs and industrialists picking up marquee properties in the IT capital priced at more than ₹ 50 crore. "Buyers’ aspirations, lifestyle, and income growth started changing post-2022.
We saw 2023 as one of the golden years where Bengaluru witnessed several luxury and even ultra-luxury transactions driven by buoyant demand in the sector," said Amar Mysore, president of CREDAI Bengaluru. Bengaluru offers investors encouraging returns, with rental yields typically ranging from 5% to 7%. Because of its vibrant climate and dynamic growth, the city is a top option for people looking to make steady and profitable real estate investments, said real estate experts.
Also Read: Why Narayana Murthy’s real estate purchase in Bengaluru is anything but simple Top residential deals in Bengaluru in 2024 1) In April, chairman and managing director of Bengaluru-based company Quess Corp, Ajit Isaac, bought a 10,000 sq ft property worth ₹ 67.5 crore in Koramangala area, the IT capital’s billionaire street, making it the most expensive real estate deal in the city. Documents showed that the transaction's per sq ft price was around ₹ 70,300 per sq ft.
2) For ₹ 13.5 crore, Ola Group Executive Amit Anchal bought a lavish property in Adarsh Palm Retreat.
