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Infosys co-founder Kris Gopalakrishnan buys two properties in Bengaluru’s billionaire street for Rs 76 crore

Kris Gopalakrishnan, now chairman of Axilor Ventures also bought two properties at JP Nagar in Bengaluru in the past one year.

Kris Gopalakrishnan. File photo.

Kris Gopalakrishnan. File photo.

Infosys co-founder Kris Gopalakrishnan bought two properties worth Rs 76 crore in Bengaluru’s billionaire street Koramangala, documents accessed by Zapkey.com showed.

Gopalakrishnan, now chairman of Axilor Ventures, an early stage startup accelerator and venture fund, confirmed to Moneycontrol that the two properties had been purchased in Koramangala. “These are bought as investments,” he said in an email response.

According to property documents accessed by Zapkey.com, Gopalakrishnan also bought two properties in JP Nagar in the past one year. The property purchases together amount to around Rs 113 crore.

A property measuring 10,161.8 sq ft, including the building consisting of ground floor measuring 3,347 sq ft and the first floor measuring 2,439 sq ft, located in Koramangala 3rd Block Extension, Bengaluru was registered on June 24, 2021. The value of the property is Rs 40 crore, the documents showed.

According to the documents, the buyer is SGK Investment Trust and the seller is Bikaner House Limited. The Trust was represented by an authorised signatory named KC Ganesh, the documents showed.

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SGK Investment Trust bought another property worth Rs 36 crore on April 20, 2021. The plot measures 9,600 sq ft and is located in Koramangala 3rd Block Extension, Bengaluru, the documents showed. The seller was Joseph Thomas.

In February this year, SGK Investment Trust, an entity that manages  Kris Gopalakrishnan's investments, bought a property worth Rs 19.15 crore in JP Nagar, first phase, Bengaluru. The plot measures 9,600 sq ft and the residential space comprising of ground and first floor measures 4,037 sq ft of built-up area, the documents showed.

In August 2020, SGK Investment Trust bought a property worth Rs 18.25 crore in J P Nagar, Bengaluru measuring 9,600 sq ft, documents showed.

Senapathy ‘Kris’ Gopalakrishnan served as Infosys’ chief executive officer and managing director from 2007 to 2011, and as vice chairman from 2011 to 2014. Following his retirement from Infosys, he has been active in promoting the Indian startup ecosystem, and philanthropically supporting research on brain sciences, aging related disorders, and healthcare.

The third block located in Koramangala is called Billionaire's Paradise as most of the country’s successful entrepreneurs reside in this locality, according to local brokers. Some of the residents include Infosys co-founder Nandan Nilekani, Dr Devi Shetyy of Narayana Health, Flipkart founders Sachin and Binny Bansal.

Of the six blocks in the area, only the third block is the most expensive because of larger plot sizes and the fact that it is inhabited by billionaires, brokers said.

Bungalows that are spread across 4000 sq ft command a price of just about Rs 25000 per sq ft, they said.

The promoter of Bengaluru-based Quess Corp had bought a bungalow spread across 9,507 sq ft in the IT capital’s posh Koramangala area for Rs 52 crore, according to documents shared by Zapkey.com.

The property was registered on June 18, 2021, the documents said.

Ajit Abraham Isaac, promoter of the staffing company, bought the property from Brijesh R Wahi, a Singapore-based NRI. The property is located in Koramangala Extension and measures 9507 sq ft and the per sq ft price works out to around Rs 58,000 per sq ft.

Flipkart founder Sachin Bansal utilised proceeds of the sale of 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 earlier bought a property in the same area for 25,000 sq ft in 2016. Recently, the owner of  Bengaluru-based firm Ashirvad Pipes bought a property in the area for around Rs 55,000 per sq ft, according to local brokers.

“Buyers are willing to pay high prices for only large-sized plots located on this billionaire street because supply is limited,” a local broker said.

There are a total of 40 plots in the area which was developed almost 25 years ago, they said.

Some of the key locations where high-value transactions have taken place in Bengaluru are Koramangala, Lavelle Road, Vasanth Nagar, Richmond Town, Ashok Nagar, Rajmahal Vilas Extension, Sadashivanagar, Indiranagar among others.

The co-founder of online grocery company BigbasketAbhinay Choudhari, recently has bought a 9,716 sq ft plot in Epsilon, a prime location in Bengaluru, for Rs 12.25 crore amid the second wave of COVID-19, registration data accessed by Zapkey.com showed.

The plot is located in a gated community called Yemlur Home Owners Association on Yemlur Main Road, Bengaluru, which is off the Old Airport Road. The deal was registered on June 15, 2021.

Anesh Shetty, the son of Narayana Health Chairman Dr Devi Prasad Shetty, had bought an independent house worth Rs 18.57 crore in Koramangala in January, documents made available by Zapkey.com have revealed.

In another deal, Dilip R Vellodi, the chairman and CEO of Sutherland Global, global provider of business process outsourcing services, also bought an independent house in HAL 2nd stage in Indira Nagar for Rs 8 crore in January 2021, as per documents available on Zapkey.com. The property is spread across an area of 3,480 sft and the built-up area of the property is 1,500 sq ft. Vellodi paid a stamp duty of Rs 45.1 lakh for the deal.

Also Read: Essar sells bungalow in Mumbai’s Worli Seaface to diamond merchant’s firm for Rs 185 crore

Some of the other high profile deals in Koramangala in the last couple of years as per documents accessed by Zapkey.com include Nandan Nilekani’s NRJN Family Trust (Rs 39.8 crore in the month of December in 2019), Raja Bagmane (Rs 43.2 cr in November 2019), Jhanavi Nilekani, daughter of Nandan Nilekani bought a bungalow for Rs 30 crore in December 2019.

Prestige Kingfisher Towers in Ashok Nagar witnessed some of the priciest value property deals in Bengaluru, brokers active in the area said.

In June 2020, Sudha Murthy - the wife of Infosys founder Narayana Murthy, bought a property in this project for Rs 28 crore, according to documents shared by Zapkey.com.

Also Read: Realtor buys apartment worth Rs 90 crore near Bandra Kurla Complex in Mumbai

Krishna Chivukula, businessman and owner and chairman of board of directors of INDO US MIM TEC Private Limited, bought a unit for Rs 24.1 crore in May 2020. Another unit in this project was bought by Zonu Reddy of Zonasha Estates for Rs 28.5 crore in October 2020.

Areas like Vasanth Nagar, saw buyers like Raj Menda, corporate chairman of RMZ Group and Anand Surana of Bengaluru-headquartered generics firm Micro Labs, buying property in the project Blessington for Rs 20.26 crore and Rs 13.76 crore respectively in the month of May 2020, registration documents accessed by Zapkey.com said.
Vandana Ramnani
first published: Aug 31, 2021 04:37 pm
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