Ola Group Executive Amit Anchal has acquired a luxury villa in Bengaluru for Rs.13.5 crore. Meanwhile, Ola Electric Mobility has launched its initial public offering today.
The property is located at Rs.13.5 crore in Adarsh Palm Retreat Villas, located on Marathahalli Outer Ring Road in East Bengaluru. The property registration documents were accessed through real estate data aggregation platform Zapskey.
The luxury property, covering a built-up area of 4,774 square feet, is located within a gated community that features 800 red-roofed Victorian villas spread across a 110-acre development.
The township, constructed by Adarsh Developers, offers a wide range of facilities including a fully furnished gymnasium, multipurpose banquet hall, swimming pools, badminton courts, and indoor and outdoor play areas within an expansive 80,000 square feet clubhouse.
The property is situated on Marathahalli Outer Ring Road behind Intel, the development provides convenient access to major public transportation, schools, IT parks and offices, restaurants, hospitals, and other essential amenities.
The significant transaction, recorded on July 16, identified Amit Anchal and Archana Singh as the purchasers.
The registration documents indicated that Narasimhan Babu Rajagopal and Sujatha Narasimhan Babu were the sellers.
Currently serving as a strategic consultant for Ola, Anchal collaborates with first-generation founders and company boards to provide strategic direction, aid in scaling businesses, and support corporate finance teams. He has previously overseen strategy and corporate finance for both Ola and Ola Electric.
Zapkey's data reveals that during Q1 of the current year, Bellandur in South-east Bengaluru and Rajaji Nagar situated in the Western corner of the city were identified as highly successful locations for real estate transactions exceeding Rs.10 crores.
Over the course of three months, five transactions were recorded at the villa for units measuring 3,000 square feet and containing either three or four bedrooms.
Typically, the luxury housing market's higher end ranges from Rs.5 crore to Rs.20 crore and is a niche with limited inventory throughout the year. It moves slowly as well.
The luxury development is designed to eliminate any distinctions between units, guaranteeing that each one possesses identical features. Nevertheless, pricing could vary based on the level of elevation; higher floors may command a premium price tag.
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