Narayana Hrudayalaya expands footprint with ₹246 crore land acquisition in Bengaluru
Narayana Hrudayalaya Limited has acquired prime land parcels totaling ₹246 crore in Bengaluru, enhancing its presence in a crucial healthcare corridor
In one of the biggest healthcare real estate deals in 2025, Narayana Hrudayalaya Limited has acquired prime land parcels worth ₹246 crore along Bannerghatta Main Road in Bengaluru in three separate transactions, according to documents accessed by Propstack.
The deals involved over 46,000 sq ft of land in the Hulimavu locality, all purchased from members of the same family, they showed.
The largest transaction was a ₹177.7 crore deal with Kelachandra Veneer Industries, represented by Thomas Markose and Neelu Markose, for a 93,500 sq ft plot that includes around 10,000 sq ft of existing structures, the documents showed.
In a separate deal, Narayana Hrudayalaya acquired 17,424 sq ft of land in Hulimavu from Neelu Markose for ₹33.1 crore.
The third transaction involved the purchase of 18,513 sq ft from Thomas Markose for ₹35.17 crore, the documents showed.
The deals were concluded on February 3, 2025, they showed.
These acquisitions collectively bolster Narayana Hrudayalaya’s land bank along Bannerghatta Road, a prominent healthcare and residential corridor in south Bengaluru.
The company has not officially disclosed development plans for the site. Founded in 2000 by Devi Shetty, a heart surgeon and entrepreneur, it has a network of 18 hospitals and three heart centres across India and an overseas presence in the Cayman Islands.
An email has been sent to Narayana Hrudayalaya. The copy will be updated if a response is received.
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South Bengaluru sees increase in property prices
Local brokers say that areas in south Bengaluru, such as Kanakapura Road, Electronic City, Bannerghatta Road, JP Nagar, and BTM Layout have witnessed a moderate increase of 15-20% in property prices over the past two years.
Real estate analysts note that property values in north and east Bengaluru have experienced higher and consistent growth, with prices climbing steadily each quarter, outpacing the slower appreciation seen in the southern zones of the city.
Infrastructure projects such as the Bengaluru-Mysuru Expressway and the southern metro corridor have contributed to a noticeable rise in land prices in the surrounding regions.
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Previous transactions in Bengaluru
Data from Propstack showed that in May last year, Narayana Hrudayalaya purchased more than 1.2 acres of land in Bengaluru for ₹169 crore.
The land is about 52,272 square feet and is situated in Begur Hobli in south Bengaluru. The seller is Venture Projects Bangalore Private Limited, a private company, and the sale deed was signed on March 1, 2024.
