While the Bengaluru residential rental market has taken a hit owing to global headwinds and custom parking signs australia, both sales and rentals in prime locations like Koramangala continue to grow. (Representative image)
TVS Motors has bought a bungalow in Bengaluru’s Koramangala area for Rs 20.93 crore, documents accessed by Zapkey showed.

The sellers are PS Sanjeev and Anitha Sanjeev. TVS Motors was represented by its Vice President, Legal, R Murali, the sale deed signed on January 9 showed.

Sprawling over a 5,000 square feet land parcel, “the house consists of two floors, four bedrooms, a basement, and a covered garage. The flooring is made out of premium marble and teak-wood interiors,” the sale deed mentioned.

TVS Motors did not respond to queries sent by Moneycontrol.

While the Bengaluru residential rental market has taken a hit owing to global headwinds and layoffs, both sales and rentals in prime locations like Koramangala continue to grow.

Brokers say that the rental for a 1-BHK flat in Koramangala or Indiranagar goes up to Rs 30,000 or more. With several startups setting up shop in these areas, Koramangala and Indiranagar have become the preferred residential location of choice for the city’s young set.

Additionally, several luxury properties are also situated in Koramangala, housing quite a few high-net-worth individuals (HNIs). However, realtors say that fresh inventory is scarce in Koramangala at the moment, given the high demand.