Ola Executive Amit Anchal's ₹13.5-Crore Bengaluru Villa Purchase Highlights Luxury Property Trends
Amit Anchal, a strategic consultant for Ola, has bought a luxury villa for ₹13.5 crore in Bengaluru's Adarsh Palm Retreat Villas, reflecting the city's emerging luxury property market.
Luxury Real EstateBengaluruOlaAmit AnchalAdarsh Palm Retreat VillasReal Estate MumbaiAug 02, 2024
The villa, sprawling over 4,774 square feet, is part of a gated community featuring 800 red-roofed Victorian villas in a 110-acre project. Developed by Adarsh Developers, the township offers various amenities, including a fully equipped gymnasium, multipurpose banquet, swimming pools, badminton courts, and indoor and outdoor play areas in a clubhouse spanning 80,000 square feet.
Located on Marathahalli Outer Ring Road behind Intel, the project provides easy access to key public transportation, schools, IT parks and offices, restaurants, hospitals, and other modern necessities.
Amit Anchal, a strategic consultant for Ola, partners with first-generation founders and respective company boards to bring strategic direction to businesses, scale-up, and guide corporate finance teams. He has led strategy and corporate finance for Ola and Ola Electric.
Luxury property deals in Bengaluru have seen an uptick, with Bellandur in South-east Bengaluru and Rajaji Nagar in the city's Western corner emerging as top-performing areas for real estate deals priced at ₹10 crore and above during the first quarter of the ongoing calendar year.
According to data sourced from Zapkey, Adarsh Palm Retreat Villas in Bellandur recorded five transactions for 3 and 4 BHK units spanning over 3,000 square feet during the three-month period.
The upper end of the luxury housing market, ranging from ₹5 crore to ₹20 crore, is typically a niche and slow-moving market featuring limited inventory during a year. A luxury project is conceptualized to avoid any differentiation, ensuring each unit within the facility has the same features. Pricing may, however, differ on account of vertical placement, with units on upper floors commanding a higher premium.
Frequently Asked Questions
Who bought the ₹13.5-crore villa in Bengaluru?
Amit Anchal, a strategic consultant for Ola, bought the luxury villa in Bengaluru's Adarsh Palm Retreat Villas.
What is the location of the villa?
The villa is located on Marathahalli Outer Ring Road behind Intel in Bengaluru.
What are the amenities offered in the Adarsh Palm Retreat Villas project?
The project offers various amenities, including a fully equipped gymnasium, multipurpose banquet, swimming pools, badminton courts, and indoor and outdoor play areas in a clubhouse spanning 80,000 square feet.
Who are the primary takers in the luxury housing market?
The primary takers in this segment comprise high and ultra-high net worth individuals, rich non-resident Indians, C-suite executives, promoters, and entrepreneurs.
What is the typical price range of the upper end of the luxury housing market?
The upper end of the luxury housing market typically ranges from ₹5 crore to ₹20 crore.
Related News Articles
India's Next Boomtowns: 17 Cities Primed for Rapid Real Estate Development
Ayodhya, Varanasi, Puri, and 14 other cities are set to witness significant real estate growth driven by spiritual tourism, infrastructure projects, and digitization.
Bajaj Housing Finance IPO Sees Overwhelming Response, Subscribed 7.50 Times on Day 2
Bajaj Housing Finance's Rs 6,560-crore initial public offer (IPO) received a massive response on the second day of bidding, with the issue getting subscribed 7.50 times.
Luxury Real Estate in Mumbai: A Booming Market for HNIs and NRIs
Luxury homes in Mumbai are witnessing a significant surge in demand, primarily driven by High Net Worth Individuals (HNIs) and Non-Resident Indians (NRIs). The real estate market in Mumbai has always been a hotbed for investment, and recent trends indicat
India's Real Estate Sector Set to Surpass USD 10 Billion in Equity Investments in 2024
In 2024, institutional and collective vehicle investors continued to play a significant role in fuelling the Indian real estate market, contributing nearly 40% of the total investments from January to September.
SEBI Reduces Lock-in for REIT Sponsor Units to 15%
In a significant move, the Securities and Exchange Board of India (SEBI) has reduced the lock-in period for units allotted to sponsors of Real Estate Investment Trusts (REITs) to 15%, down from a previously higher percentage, aimed at enhancing liquidity and investor confidence.
YSRCP Alleges Chandrababu Naidu Using Lord Venkateswara as Brand Ambassador for Real Estate Venture
The YSR Congress Party (YSRCP) has accused former Chief Minister Chandrababu Naidu of promoting a real estate business by incorporating a TTD temple within a private venture. The party claims this is an unethical use of religious symbols for commercial gain.