Narayana Murthy Acquires Second Apartment for ₹50 Crore at Bengaluru’s Iconic Kingfisher Towers

NR Narayana Murthy, the co-founder of Infosys, has purchased a luxury apartment in Bengaluru’s Kingfisher Towers for ₹50 crore. The property is located in one of the city’s most sought-after residential complexes. This marks his second purchase in the tower, adding to the existing apartment owned by his wife, Sudha Murthy. This transaction reflects the increasing demand for high-value residential properties in the city, especially among affluent individuals.

The newly acquired apartment spans 8,400 square feet and occupies the 16th floor of the 34-story building. It features four bedrooms and includes five dedicated car parking spaces. According to a Times of India report, the deal was finalized at ₹59,500 per square foot, ranking among the highest rates ever recorded in Bengaluru. Reports indicate that the seller was a Mumbai-based businessman who had owned the property for nearly ten years. The transaction was facilitated by Sadhwani Real Estate Holdings.

Kingfisher Towers is a prominent residential development situated in Bengaluru’s central business district. The project stands on a 4.5-acre plot that was previously the ancestral home of businessman Vijay Mallya. The project was developed as a joint venture between Prestige Group and Vijay Mallya’s company. The tower houses 81 units, each covering at least 8,000 square feet. The development also includes an exclusive penthouse that occupies the top two floors of the building. 

The property is located within UB City, an area that has become synonymous with luxury and convenience. UB City offers residents access to high-end commercial spaces, fine dining, and entertainment options. This combination of features has made it a preferred location for the city’s elite, including prominent business leaders and investors.

The tower is home to several notable individuals. Residents include Biocon Chairperson Kiran Mazumdar-Shaw and Rana George, the son of Karnataka Minister KJ George. Sudha Murthy, Narayana Murthy’s wife, purchased her apartment in the complex four years ago for ₹29 crore. These transactions highlight the appeal of Kingfisher Towers as a premier residential address in Bengaluru.

Maintaining a property in Kingfisher Towers involves significant costs. The maintenance charges are reportedly ₹5 lakh per quarter. This reflects the exclusivity of the complex and the high standards of upkeep provided to residents. The project offers a range of facilities, including rooftop access with scenic views.

The acquisition of this property by Narayana Murthy is part of a larger trend in Bengaluru’s real estate market. The city has witnessed a surge in high-value property transactions over the past year. For instance, Ajit Isaac, Chairman of Quess Corp, purchased a 10,000-square-foot property in Koramangala earlier this year for ₹67.5 crore. This deal set a record with a price of ₹70,300 per square foot. Such transactions underscore the increasing demand for luxury residences in Bengaluru.

According to the latest JLL report, Bengaluru has become a key market for residential real estate in 2024. The city has seen strong demand, especially in the premium (₹3-5 crore) and luxury (above ₹5 crore) segments. This growth is fueled by the expanding IT sector and an increasing affluent buyer base. Developers are focusing on high-quality projects in prime locations and emerging areas. Capital values in the city have been rising, showing strong buyer confidence and demand for premium housing.

This acquisition highlights the tower's status as a premier luxury living destination, reflecting Bengaluru's strong demand for exclusive properties.