Bengaluru businessman buys the most expensive property on 'billionaire street'. It's priced at...

Ajit Abraham Isaac had in 2021 bought a bungalow spread across 9,507 square feet in the same area for Rs 52 crore.

Ajit Abraham Isaac, founder and chairman of Quess Corp, has recently bought the most expensive property in Bengaluru. Located in Koramangala 3rd block, popularly known as "billionaire street", the plot is 10,000 square feet and is worth Rs 67.5 crore, the Economic Times reported, adding that it set a new benchmark for the real estate market in the city.

The plot was reportedly bought from Arvind Reddy and Geeta Reddy. This is being touted as the most expensive property deal in Bengaluru because its effective rate works out to Rs 70,300 per square foot, higher than the last deal closed in the locality which was when TVS Motors bought a 9488-square feet property for Rs 65 crore with an effective rate of Rs 68,508 per square feet.

This comes two years after Ajit Abraham Isaac bought a bungalow spread across 9,507 square feet in the same area for Rs 52 crore at the cost of Rs 58,000 per square feet. The property was bought from Brijesh R Wahi, a Singapore-based NRI. It was registered on June 18, 2021.

Of the six blocks in Koramangala, the third block is the most expensive because of larger plot sizes and the fact that billionaires inhabit it, brokers said. It is hence called the "billionaire street" and is home to business leaders including Infosys founders Nandan Nilekani and Kris Gopalkrishnan, Narayana Health founder Devi Shetty, former founders of Flipkart Sachin and Binny Bansal.

In June 2020, former head of Infosys Foundation and Rajya Sabha MP Sudha Murthy had bought a property in this project for Rs 28 crore