The Trust has bought the property, which is a 9,600 sq ft land parcel with built-up area of 3,082.07 sq ft, from Suresh Ganesh Heble. The buyer has paid ₹2 crore as stamp duty. It has paid about ₹60,418 per sq ft for the property.
The sale deed was executed on 19 April, according to documents accessed by Zapkey, which aggregates publicly available property registration data. Mint has reviewed a copy of the document.
“This is one of the largest home purchase transactions in Bengaluru and it’s befitting that it has happened in 3rd block Koramangala which is called the billionaire street. Given the limited supply of plots or independent houses in this block in Koramangala, it has high demand from ultra-high networth individuals," said Sandeep Reddy co-founder of Zapkey.
Representatives of NRJN Trust didn’t respond to an email query.
Between 2016 and 2021, several prominent Bengalureans bought properties in Koramangala 3rd block, one of the most expensive residential neighbourhoods in the capital city of Karnataka.
The NRJN Family Trust had bought another property in the same locality in 2019, for nearly ₹40 crore. Others who have bought real estate in the area include Flipkart co-founder Binny Bansal, Raja Bagmane of Bagmane Developers, SGK Investment Trust, the family office of Infosys co-founder Kris Gopalakrishnan, Dr Anesh Shetty and Dr Devi Prasad Shetty of Narayana Health among others.
The NRJN Family Trust has made a few investments in startups in recent years. It has invested in social fintech startup Avanti Finance, Stelling Technologies, which owns travel booking platform RailYatri and long-distance bus services operator IntrCity, and Ninjacart.
