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Shruti R Pai, wife of the Manipal Group Chairman, has purchased a INR 64 crore luxury duplex in Bengaluru's Jayamahal Extension from Savyasachi Projects. Spanning the 13th and 14th floors of the Savyasachi Sarayu project, the 9,929 sq ft carpet area unit sets a benchmark price of INR 64,457 per sq ft. The transaction highlights a growing wave of high-value residential purchases in Bengaluru, driven by UHNIs amid limited luxury inventory. Jayamahal, near Bangalore Palace, is a top hotspot, with recent deals by Nithin Kamath, Binny Bansal, and Kris Gopalakrishnan's family. Experts say such properties are increasingly acquired for legacy, lifestyle, or end-use.
A notable transaction in Bengaluru's luxury real estate market has drawn attention, with Shruti R Pai, wife of the Chairman of the prominent Manipal Group, purchasing a high-end apartment in Jayamahal Extension for INR 64 crore. The acquisition, executed with Savyasachi Projects, involves a lavish apartment spanning the 13th and 14th floors of the Savyasachi Sarayu project. Advertisement
This premium residence boasts a super built-up area of 12,800 square feet and a carpet area of 9,929 square feet. The transaction's price per square foot, based on the carpet area, stands at INR 64,457, a figure considered a benchmark rate for residential deals in this exclusive micro-market. The sale includes four covered car parking slots.
This purchase underscores a growing trend of high-value apartment acquisitions across Bengaluru, fueled by robust demand from High Net-worth Individuals (HNIs) and industrialists. Bengaluru's luxury real estate sector is currently experiencing a significant surge, attributed to a limited inventory of high-end properties and an increasing population of Ultra High Net-worth Individuals (UHNIs) within the city.
Jayamahal Extension, known for its prime location near Bangalore Palace and the Central Business District (CBD), has been a hotbed for substantial real estate transactions. Other recent notable deals in Bengaluru include Nithin Kamath of Zerodha acquiring a bungalow for over INR 70 crore, Binny Bansal of Flipkart investing in a residential plot for over INR 55 crore, and the family of Infosys co-founder Kris Gopalakrishnan purchasing a luxury villa for approximately INR 35 crore.
Analysts attribute the sharp price surge in prime neighborhoods like Jayamahal, Sadashivanagar, and Richmond Town to the scarcity of available luxury inventory. They also note that these high-value properties are increasingly being acquired for self-use, as legacy assets, or as lifestyle investments, rather than primarily for speculative gains. The Knight Frank Wealth Report 2025 further highlights a significant increase in UHNIs across India, with Bengaluru standing out as a pivotal hub, consequently intensifying the demand for luxury residential properties in the city.
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