Ranjan Pai Acquires Prime 25,824 sq ft Property on Lavelle Road, Bengaluru for ₹165.6 Crore
Manipal Group Chairman Ranjan Pai has purchased a prime property in Bengaluru for ₹165.6 crore, reflecting strong demand in the luxury real estate market.
BengaluruReal EstateLuxury PropertyRanjan PaiManipal GroupReal Estate NewsOct 14, 2025
The property spans 25,824 square feet and was previously owned by Australian national Mira Angeline Cummins. It includes two buildings, each approximately 3,339.9 square feet. The sale was registered on September 9, 2025.
The location is near prominent landmarks such as UB City and Cubbon Park, making it one of the few remaining high-value land parcels in Bengaluru’s central business district. The property is close to Vittal Mallya Road, an area known for premium offices, boutique hotels, and luxury residences.
According to Zapkey cofounder Sandeep Reddy, the transaction ranks among the largest real estate deals in Bengaluru this year. The price of around ₹64,150 per sq ft highlights the scarcity of large land parcels in central Bengaluru. He noted that independent plots of this scale are rarely available in the city, making the purchase a notable move for a high-net-worth individual. The deal also reflects continued investor confidence in Bengaluru’s premium property market.
This deal follows several other high-value transactions in Bengaluru. In June 2025, Shruti Pai, wife of Ranjan Pai, purchased a luxury duplex in Jayamahal Extension for ₹64 crore. The apartment measures 12,800 square feet of super built-up area, including a carpet area of 9,929 square feet with balconies and a lift lobby. The sale price translated to ₹64,457 per square foot on the carpet area and ₹50,000 per square foot on the super built-up area.
In August 2025, Tata Consultancy Services (TCS) leased 1.4 million square feet of office space at 360 Business Park in Electronic City for ₹2,130 crore over a 15-year term. The lease covers 6.8 lakh square feet in Tower 5A and 7.2 lakh square feet in Tower 5B. The consolidated monthly rent is ₹9.31 crore at a rate of ₹66.5 per square foot, with a security deposit of ₹112 crore.
Earlier this year, Google opened its Ananta campus in Mahadevapura, Bengaluru, spanning 1.6 million square feet, marking its largest office in India. In 2024, Morgan Stanley leased one million square feet in Mumbai on a nine-year term, with a starting monthly rent of ₹15.96 crore.
Experts note that such transactions indicate a strong demand for large land parcels and premium properties in Bengaluru, particularly among high-net-worth individuals and multinational companies. The scarcity of available plots in the central business district has driven property rates to record levels.
The Lavelle Road acquisition by Ranjan Pai adds to a series of high-value residential and commercial real estate moves in Bengaluru in 2025, reflecting the ongoing growth of the city’s luxury market. Analysts suggest that the trend is likely to continue as demand for centrally located properties remains high and premium buyers continue to invest in long-term assets.
The property’s proximity to key commercial areas, combined with its size, makes it a strategic investment in Bengaluru’s competitive real estate market, underlining the city’s position as a preferred destination for high-value real estate investments in India.
Frequently Asked Questions
Who is Ranjan Pai?
Ranjan Pai is the chairman of the Manipal Group, a prominent Indian conglomerate with interests in education, healthcare, and real estate.
What is the significance of the property's location?
The property on Lavelle Road is significant due to its proximity to key commercial areas, landmarks like UB City and Cubbon Park, and its status as one of the few remaining high-value land parcels in Bengaluru’s central business district.
What is the price per square foot of the property?
The property was purchased for around ₹64,150 per square foot, reflecting the high demand and scarcity of large land parcels in central Bengaluru.
What other high-value real estate transactions have occurred in Bengaluru recently?
Recent high-value transactions include the purchase of a luxury duplex by Shruti Pai for ₹64 crore, TCS leasing 1.4 million square feet of office space, and Google opening its Ananta campus in Mahadevapura.
Why is there a strong demand for large land parcels in Bengaluru?
The strong demand for large land parcels in Bengaluru is driven by the scarcity of available plots in the central business district, high-net-worth individuals, and multinational companies looking for strategic investments in premium properties.
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