TVS Capital’s chairman buys Bengaluru residential property for Rs 15 crore

December 12, 2022
TVS Capital's chairman buys Bengaluru residential property for Rs 15 crore

Gopal Srinivasan, Chairman and Managing Director of TVS Capital Fund had bought a residential property for around Rs 15 crore in one of the most significant property transactions in Bangalore in 2022.

The property located at Rest House Crescent Road is spread over 6000 sq ft with 2600 sq ft built-up area. It includes a dwelling house, ouhouses, garage and other construction. “The property was registered in November and the buyer has paid over Rs 95lakh as stamp duty,” mentioned a sales document shared by Zappkey.

Srinivasan represents a third-generation member of the TVS Family. Recently the TVS group underwent restructuring under which, TVS Investments Pvt Ltd (TIPL) was bifurcated under the control of Gopal Srinivasan family. This also comprises TVS Electronics Ltd and TVS Capital Funds Pvt Ltd.

Bangalore has seen some large tickets from luxury to super luxury residential bungalow deals priced upward of Rs 15 crore to Rs 50 crore closed this year alone.

Among the large deals closed recently was Rana George, son of politician K J George, has bought a residential property for around Rs 35 crore in Kingfisher tower and NRJN Family Trust established by Nandan Nilekani, co-Founder & non-executive chairman of Infosys Technologies bought a residential property for around Rs 58 crore in one of the largest property transactions in Koramangala, Bangalore.

SGK Investment Trust, the family office of Kris Gopalkrishnan, recently bought two properties in Bengaluru’s ‘boulevard of billionaires’ for nearly Rs 76 crore and Quess Corp executive chairman Ajit Isaac also purchased a bungalow in Koramangala for nearly Rs 52 crore.

Bengaluru’s residential market has recorded sales of 35,446 units in the 9-month period of 2022, which is an all-time high even when compared to full-year numbers for all previous years. The city was the biggest in terms of sales during this period among the top seven cities.

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