Shruti Pai Acquires Luxurious Duplex in Bengaluru for a Whopping ₹64 Crore
Shruti Pai, the wife of Ranjan Pai, chairman of the Manipal Education and Medical Group, has made headlines by purchasing a luxury duplex apartment in Bengaluru’s upscale Jayamahal Extension for ₹64 crore, marking one of the most expensive residential deals in the area.
Luxury Real EstateBengaluruHighvalue PropertyResidential DealsUltraluxury HousingReal Estate NewsJul 22, 2025
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.
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.
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.
Frequently Asked Questions
What is the significance of Shruti Pai's purchase in Bengaluru's real estate market?
Shruti Pai's purchase of a luxury duplex apartment for ₹64 crore in Bengaluru’s Jayamahal Extension highlights a growing trend in the city’s high-value property market. It marks one of the most expensive residential deals in the area and indicates a shift towards luxury apartment transactions in the ₹50 crore-plus segment.
What are the key features of the luxury duplex apartment purchased by Shruti Pai?
The apartment spans 12,800 sq ft of super built-up area, with a carpet area of 9,929 sq ft. It is located on the 13th and 14th floors of the Savyasachi Sarayu project in Jayamahal Extension. The property includes four covered parking spaces, a lumber room in the basement, and a 2,479 sq ft undivided share of the land parcel.
How does the price of Shruti Pai's apartment compare to other luxury properties in Bengaluru?
The apartment was sold at ₹64,457 per sq ft on the carpet area and ₹50,000 per sq ft on the super built-up area, making it among the highest per-square-feet rates recorded in the locality. This places it among the most expensive residential deals in Bengaluru.
What other notable luxury property transactions have taken place in Bengaluru recently?
In 2024, Ajit Isaac bought a 10,000 sq ft property worth ₹67.5 crore in Koramangala, making it the most expensive real estate deal in the city. In May, Paresh Raja purchased a luxury penthouse for ₹54.38 crore in MAIA Estates, and in December, NR Narayana Murthy bought a luxury apartment in Kingfisher Towers for ₹50 crore.
What are the future trends in Bengaluru's luxury real estate market?
Real estate experts predict that the ₹50 crore-plus segment will see a rise in luxury apartment transactions. This segment is likely to expand as more developers cater to the demand for premium, amenity-rich gated living, reflecting the growing trend in Bengaluru’s high-value property market.
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