Teamlease MD buys luxury apartment in Bengaluru for Rs 24 crore

Staffing firm Teamlease’s cofounder Ashok Kumar has purchased a bungalow in Bengaluru for ₹24 crore, marking another big-ticket transaction in the super-luxury residential segment. The property has five bedrooms spread over the ground and first floors in Regency Magnosa on Kasturba Road.
The property was purchased in August and is jointly held by Kumar and his wife, Pooja Reddy, as per documents accessed by zapkey.com. The house has a super built-up area of 8,694 sq ft with an exclusive garden area of 3,000 sq ft.

Kumar, who is also the company’s managing director, said, “The property was purchased for end-use and will enable the consolidation of our family by providing space for our surviving parents to move in to stay together.” Experts said demand for bigger homes has increased during Covid-19 and the latest deal is expected to buoy big-ticket residential transactions in the city.