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Manipal Group promoter’s wife, Shruti Pai, buys ₹64 crore luxury duplex in Bengaluru
Manipal Group's Shruti Pai has bought a ₹64 cr duplex in one of Bengaluru’s costliest deals, signaling a shift to luxury flats in the ₹50 crore-plus segment
Shruti Pai, wife of Ranjan Pai, chairman of the Manipal Education and Medical Group, has purchased a luxury duplex apartment in Bengaluru’s upscale Jayamahal Extension for ₹64 crore, according to documents accessed by Zapkey. This makes it one of the most expensive residential deals in the area.
The transaction highlights a growing shift in Bengaluru’s ultra-luxury housing market. Real estate experts say the ₹50 crore-plus segment, once dominated by standalone bungalows, is now seeing increased demand for premium apartments.
In 2024, Ajit Isaac, chairman and managing director of Bengaluru-based Quess Corp, bought a 10,000 sq ft property worth ₹67.5 crore in the Koramangala area, the IT capital’s billionaire street, making it the most expensive real estate deal in the city.
Shruti Pai has bought the property in Savyasachi Sarayu, a high-end development in one of central Bengaluru’s most sought-after residential enclaves.
The apartment spans 12,800 sq ft of super built-up area, with a carpet area of 9,929 sq ft, including balconies and a lift lobby. The property was sold at ₹64,457 per sq ft on the carpet area and ₹50,000 sq ft on the super built-up area, making it among the highest per-square-feet rates recorded in the locality. The deal was registered on June 11, 2025, and the seller is listed as Parag S Maniar of Savyasachi Projects, represented by H Vijayanath Hegde, the documents showed.
Also Read: Bengaluru's most expensive real estate deal? Quess Corp’s promoter buys property worth ₹67.5 cr in billionaire street
According to the property registration documents, the apartment is located on the 13th and 14th floors of the project. It features four covered parking spaces, a lumber room in the basement, and a 2,479 sq ft undivided share of the land parcel.
"This purchase reflects a growing trend in Bengaluru's high-value property market. Previously, the ₹50 crore-plus segment was dominated by bungalows, but we are now observing a clear rise in luxury apartment transactions at this level. This segment will likely expand as more developers cater to the demand for premium, amenity-rich gated living," Sandeep Reddy, co-founder at Propstack and Zapkey, said.
Jayamahal, which sits close to prime areas like Palace Grounds and Sadashivanagar, has recently seen a steady uptick in land and built-up property prices, especially for larger units with high-end specifications.
“Right now, I’m marketing four properties at ₹40,000 per sq ft in the locality. It’s a sought-after address in the city. Prices in the area are appreciating fast because it connects directly to Palace Grounds,” said Kiran Kumar, Vice President of Hanu Reddy Realty.
An email has been sent to the buyer and the developer. If they respond, the story will be updated.
Also Read: Why Narayana Murthy’s real estate purchase in Bengaluru is anything but simple
Luxury residential transactions in Bengaluru
In May, Paresh Raja, CEO of UK-based Market Financial Solutions, bought a luxury penthouse in MAIA Estates’s upscale 27 Summit project for ₹54.38 crore, as per documents accessed by Zapkey.
Located in Sampangiram Nagar, one of central Bengaluru's most sought-after neighbourhoods, the penthouse spans 7,065 sq ft of carpet and occupies the 25th and 26th floors of a premium residential project. According to the sale document, the property's built-up area is 10,629 sq ft.
The deal was closed at a carpet area rate of ₹77,000 per sq ft and a super built-up rate of ₹51,170 per sq ft.
Last December, Infosys founder NR Narayana Murthy snapped up a second luxury apartment in Bengaluru's Kingfisher Towers for a staggering ₹50 crore. The 8,400-square-foot unit on the 16th floor comprises four bedrooms and five dedicated car parking spaces. According to the deal, the price has been set at ₹59,500 per sq foot.
