Infosys founder NR Narayana Murthy has purchased a second flat in the upscale Kingfisher Towers in Bengaluru for Rs 500 million, establishing a new record for residential property prices in the Central Business District (CBD) area.

The luxurious four-bedroom residence, located on the 16th floor, spans approximately 8,400 square feet and includes five designated car parking spaces. Four years earlier, Murthy's wife, author and Rajya Sabha member Sudha Murthy, had acquired a flat on the 23rd floor for Rs 290 million.

The recent transaction, which valued the apartment at Rs 59,500 per square foot, is considered one of the most expensive in the city’s thriving commercial centre. An email sent to Murthy for comment on the purchase did not receive a response by the time the story was published.

The 4.5-acre Kingfisher Towers, located at UB City, consists of 81 bespoke apartments spread across three blocks in the city's heart. Each residence in the 34-storey structure averages 8,321 square feet. The towers were constructed on the site of Vijay Mallya's ancestral home.

In 2010, the Prestige Group and Mallya jointly developed Kingfisher Towers, selling 41 luxury apartments, with prices starting at Rs 22,000 per square foot.

Murthy bought the flat from a Mumbai-based businessman who had owned the property for nearly a decade. Bengaluru’s Sadhwani Real Estate Holdings acted as the seller's representative. According to reports, the luxury property had seen some resale activity, with several high-profile tenants occupying the apartments. Notable owners of units include Biocon executive chairperson Kiran Mazumdar-Shaw.

Two years ago, Rana George, son of Karnataka's energy minister KJ George, purchased a flat worth Rs 350 million. In 2017, Embassy Group sold a Rs 500 million apartment to Ajit Prabhu, chairman and CEO of Quest Global, making it the highest residential transaction in Bengaluru at that time. Prabhu acquired a 16,000-square-foot apartment in Embassy One near Hebbal for about Rs 31,000 per square foot.