The property is located in the upscale residential complex which is 10,000 square meters in the Yemlur Homeowners Association on Yemlur Main Road in Bengaluru, which is off Old Airport Road. Epsilon, according to invitation projects, according to documents accessed by zapkey.com.
“The sale was finalized between the two parties last month and the deal is on vacant land in Epsilon,” said one person who was aware of the deal. Page Industries is one of the most important licensees worldwide for the underwear manufacturer Jockey.
Lumba is currently based out of Jumeirah Island, Dubai and has led lifestyle and home center businesses in India for over 14 years before assuming the role of CEO of Max Middle East and then CEO of the Landmark Group in 2018.
It could not be determined whether the property was acquired as a capital investment or whether he would like to renovate the property for his own use. ET’s separate email inquiries to Lumba and Genomal remained unanswered by the time we went to press.
Epsilon is a premier residential property in East Bengaluru with large floor plans spanning 7,000 to over 10,000 sq ft. The property, which includes villa lots, costs between Rs 13,000-15,000 per square foot depending on the size of the lot and location.
Epsilon is considered Bengaluru’s premier address and is home to some of the city’s top names, including Bigbasket co-founders Abhinay Choudhari and Bjyu Raveendran.
Recently, Silicon City has seen some big apartment deals including land. These include Anand Surana from Bengaluru-based generics company Micro Labs and Raj Menda, Corporate Chairman of the RMZ Group, who are buying real estate in the Blessington Project. This was followed by the purchase of two properties by Kris Gopalkrishnan on Bengaluru’s billionaires boulevard Koramangala.