Ranjan Pai Acquires Lavelle Road Property for ₹165.6 Cr: A Trophies Deal in Bengaluru's Elite Real Estate Market
In a significant real estate move, Manipal Group chairman Ranjan Pai has purchased a prime property on Lavelle Road, Bengaluru, for ₹165.6 crore, reinforcing the city's status as a luxury real estate hub.
Real EstateLuxury PropertyBengaluruRanjan PaiManipal GroupReal Estate NewsOct 14, 2025
Bengaluru: In one of the biggest real estate deals of 2025, Manipal Group chairman Ranjan Pai, through his investment arm Esencia Partners, has bought a high-value property on Lavelle Road in Bengaluru’s posh Shantala Nagar for a whopping Rs 165.6 crore. The land spans 25,824 sq ft and includes two existing structures measuring around 3,339.9 sq ft each.
Unmatched Location and Record Price
This deal, registered on September 9, 2025, underlines a growing appetite among ultra-wealthy individuals for premium land parcels in central Bengaluru—a city rapidly becoming one of India’s hottest luxury real estate hubs. Situated close to UB City, Cubbon Park, and Vittal Mallya Road, this location is considered one of the most prestigious and expensive addresses in Bengaluru. Lavelle Road is dotted with luxury residences, boutique hotels, and high-end offices.
The per square foot rate of the land clocks in at approximately Rs 64,150, according to Sandeep Reddy, co-founder of data analytics firm Zapkey, which accessed the transaction details. 'This is one of the most significant land purchases this year,' Reddy noted, calling it a rare trophy asset in a city where large plots in the central business district are increasingly scarce.
Confidence from India’s Billionaire Class
This purchase is not an isolated move. In June 2025, Shruti Pai, wife of Ranjan Pai, also made headlines by acquiring a Rs 64 crore luxury duplex apartment in Jayamahal Extension. That deal, too, was among the highest per-square-foot property purchases in the area. Industry watchers believe such transactions reflect strong confidence from India’s wealthy in Bengaluru’s luxury property market, backed by long-term demand, location value, and land scarcity. The continued investments from the Pai family only reinforce this growing trend.
Background on Manipal Group
The Manipal Group, founded by Dr. T.M.A. Pai, is a prominent conglomerate with interests in education, healthcare, and real estate. Under the leadership of Ranjan Pai, the group has expanded its footprint significantly, with a focus on strategic investments and sustainable growth. This latest acquisition on Lavelle Road is a testament to the group's commitment to premium real estate and its belief in the long-term potential of Bengaluru as a global city.
Future Outlook
With Bengaluru's real estate market showing no signs of slowing down, experts predict that more high-value deals will emerge in the coming years. The acquisition of prime properties by influential figures like Ranjan Pai is likely to set new benchmarks and attract further investment from both domestic and international buyers. As the city continues to evolve, the demand for luxury real estate in central locations is expected to remain robust.
Frequently Asked Questions
What is the significance of the Lavelle Road property?
The Lavelle Road property is significant due to its prime location in one of Bengaluru’s most prestigious areas. It is considered a rare trophy asset, with a high per square foot rate of approximately Rs 64,150.
Who is behind the acquisition of the property?
The property was acquired by Manipal Group chairman Ranjan Pai through his investment arm Esencia Partners.
What other notable real estate deals have been made by the Pai family?
In June 2025, Shruti Pai, wife of Ranjan Pai, acquired a Rs 64 crore luxury duplex apartment in Jayamahal Extension, which was among the highest per-square-foot property purchases in the area.
Why is Bengaluru becoming a hot spot for luxury real estate?
Bengaluru is rapidly becoming a hot spot for luxury real estate due to its growing economy, high demand for premium properties, and the scarcity of large plots in the central business district.
What is the future outlook for Bengaluru's real estate market?
The future outlook for Bengaluru’s real estate market is positive, with experts predicting more high-value deals and continued investment from both domestic and international buyers. The demand for luxury real estate in central locations is expected to remain robust.
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