Narayan Murthy invests in realty

Property has always been a major investment avenue of the rich. Now, some of the people one would expect to focus on enterprising ventures are also looking at rent-yielding property.

Infosys co-founder NR Narayana Murthy’s family office has bought high-end luxury apartments in Bangalore and Mumbai, said sources familiar with the development. Catamaran Ventures, which manages part of Murthy’s wealth, has previously invested in e-commerce, FMCG and education ventures.

Sources told TOI Catamaran Ventures, which manages Rs 600 crore of funds, had invested at the pre-launch phase, providing scope for steep appreciation once the projects are completed.

While A-grade commercial office space gives a annual yield of 10% in India, residential properties give an average yield of 3%-4%. In some luxury residential properties, the yield could touch 7%.-from TOI

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