subject: Home To Bangalore Billionaires - Jayanagar [print this page] Conventional wisdom is that the rich live in distinct parts of Bangalore city where the old money in Sadashivnagar, Malleswaram, Basavanagudi and wealthy immigrants especially the professional / services class in Indiranagar and Defence Colony and more recently in places like Koramangala. The seriously rich of recent have fled into secure and uber luxurious gated communities on the outskirts of Bangalore.
Seriously wealthy - the ones who make the global rich list prefer to live in Bangalore. From them the surprising answer was Jayanagar, the solidly middle to upper middle class suburb. The South Bangalore is called as patch of land home by majority of the citys billionaires.
Billionaire of Jayanagar includes the co-founder and chairman emeritus of Infosys Mr. N R Narayana Murthy and two other co-founders Mr. K Dinesh and Mr. S D Shibulal (current CEO of the company) Mr. G M Rao chairman of GMR Group also lives here.
Other billionaire are scattered across the Bangalore city: Vijay Mallyas ancestral home, currently being redeveloped into swanky White House in the sky is located on Vittal Mallya Road, Wipros Azim Premji lives in Sarjapur inside Wipro Campus, while former Infosys CEO and UIDAI chairman Nandan Nilekani stays in Koramangala so do Wipro CFO Mr. Suresh Senapathy and Infosys vice-chairman Kris Gopalakrishnan.
Proximity to Electronic City and Murthys penchant for a low key lifestyle are perhaps the main reason why the Infy crowd moved to Jayanagar.
Theres more to it according to realty consultants, Jayanagar has a sizeable target in the market of residential property in Bangalore for the super rich.
Global real estate, transaction advisory and the project services company are new and outgrown families of business communities operating from M G Road, Lalbagh Road, Jayanagar, Basavangudi and Bangalore South regions; professionals such as stockbrokers and lawyers operating from locations proximity to the industrialists operating, stock market and high court respectively in Kanakpura Road and many more.
Jayanagar is also emerging as hot commercial and retail destination where 11th Main is one of the cardinal roads connecting Jayanagar to J P Nagar, Banashankari, Bannerghatta Road and other prominent markets which is close proximity to 4th Block Complex and market.
Factors have transformed the roads into a sought after high street location as said by Mr. Ram Chandnani a deputy MD of South India CBRE South Asia a global real estate consultancy firm.
Retailer have spent anywhere between Rs. 50 to Rs. 60 per sq ft on rentals in this areas but today it has touched the Rs. 250 mark a whopping 400% increase.
Real Estate analysts leasing activities in Jayanagar 4th Block 11th Main have been on the upside and highly coveted. Prominent brands in the area includes Reliance Jewels, Max Fashions, Levis, Mc Donalds, KFC, John Players to name a few these brands and similarly positioned ones, Jayanagar is in the top of their priority list with 11th Main being the location of first choice as said by Mr. Shubhranshu Pani MD retail of Jones Lang LaSalle India.
