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Infy CEO buys 
11 Crore worth land
By siliconindia
|
Tuesday, 13 January 2009, 22:48 IST |
10 Comments
Bangalore: At a time when real estate is witnessing the most dubious days, Infosys CEO S Gopalakrishnan's property deal may come as a treat for the sector. The CEO has bought 
11 crore worth property in the Besant Nagar area of Chennai, which is one of the high value deals struck in these turbulent days.
The deal, which measured four grounds (9,600 sq ft) was finalized three months before, with Gopalakrishnan paying a sum of 2.75 crore per ground (2,400 sq ft = 1 ground). As per sources of The Economic Times, prior to this deal he also evaluated locations such as Poes Garden and MRC Nagar, where he was looking for a 2,000 sq ft apartment. The Poes Garden area has been a major attraction for high profile buyers with it being home for people like Pepsico Chairman and CEO Indra Nooyi, former Chief Minister J Jayalalithaa and celebrity-actress Hema Malini.
The speculations on the property deal were not dismissed by the Infy CEO but he did not comment on it either. The land stands in the posh area of Kalakshetra Colony, which is an area currently dominated by IAS and IPS officials. Commenting on the buy, a bungalow owner who has been a resident of the colony since 1986 asserted that the ruling price for new apartments is 10,000 per sq ft and also cited that it was difficult to find land in the area.
11 crore worth property in the Besant Nagar area of Chennai, which is one of the high value deals struck in these turbulent days.
The deal, which measured four grounds (9,600 sq ft) was finalized three months before, with Gopalakrishnan paying a sum of 2.75 crore per ground (2,400 sq ft = 1 ground). As per sources of The Economic Times, prior to this deal he also evaluated locations such as Poes Garden and MRC Nagar, where he was looking for a 2,000 sq ft apartment. The Poes Garden area has been a major attraction for high profile buyers with it being home for people like Pepsico Chairman and CEO Indra Nooyi, former Chief Minister J Jayalalithaa and celebrity-actress Hema Malini.
The speculations on the property deal were not dismissed by the Infy CEO but he did not comment on it either. The land stands in the posh area of Kalakshetra Colony, which is an area currently dominated by IAS and IPS officials. Commenting on the buy, a bungalow owner who has been a resident of the colony since 1986 asserted that the ruling price for new apartments is 10,000 per sq ft and also cited that it was difficult to find land in the area.