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Narayana Hrudayalaya has acquired over 46,000 sq. ft. of land in Hulimavu, Bannerghatta Road, Bengaluru, for INR 246 crore through three deals-the largest involving 93,500 sq. ft. from Kelachandra Veneer Industries. While development plans remain undisclosed, the purchase aligns with the hospital chain's expansion strategy in south Bengaluru. Founded by Dr. Devi Shetty, the company operates 18 hospitals across India and has been strengthening its presence in the city's growing healthcare corridor. The acquisition follows a prior land deal in Begur Hobli worth INR 169 crore. The area's rising real estate value and improved infrastructure make it a hotspot for institutional investments.
Leading healthcare provider Narayana Hrudayalaya Limited has acquired prime land parcels in Hulimavu along Bannerghatta Main Road for a total consideration of INR 246 crore. The deal encompasses over 46,000 square feet across three separate transactions. The largest transaction, worth INR 177.7 crore, involved purchasing 93,500 square feet, including built-up structures, from Kelachandra Veneer Industries. The remaining parcels?17,424 square feet for INR 33.1 crore and 18,513 square feet for INR 35.17 crore?were acquired from members of the same family. Advertisement
Although the company has not yet disclosed specific development plans for the newly acquired site, the acquisition aligns with its ongoing strategy to expand operations and infrastructure in Bengaluru, a city that continues to emerge as a healthcare and technology powerhouse.
Founded in 2000 by renowned cardiac surgeon Dr. Devi Shetty, Narayana Hrudayalaya operates a robust network of 18 hospitals and three heart centers across India, in addition to its international facility in the Cayman Islands. The hospital chain has been steadily strengthening its footprint in south Bengaluru, an area increasingly seen as a medical and educational hub.
The recent land acquisition follows an earlier transaction in May last year, when the company purchased 1.2 acres in Begur Hobli, also in south Bengaluru, for INR 169 crore. Industry experts view these acquisitions as part of a long-term land banking strategy, aimed at supporting future expansions and specialized healthcare infrastructure.
Bannerghatta Road and adjoining areas?such as JP Nagar, Kanakapura Road, Electronic City, and BTM Layout?have witnessed property value appreciation of 15% to 20% over the past two years. Analysts also point to consistent growth in north and east Bengaluru, though the southern belt continues to attract institutional buyers due to its connectivity and availability of large land parcels. The ongoing Bengaluru-Mysuru Expressway and metro developments have further contributed to the area's real estate momentum.
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