Shruti Pai, wife of Manipal Education and Medical Group chairman Ranjan Pai, has purchased a luxury duplex apartment in Bengaluru’s Jayamahal Extension for ₹64 crore. The transaction, registered on June 11, 2025, represents one of the most expensive flat purchases in the city and signals growing demand in the ₹50 crore-plus ultra-luxury apartment segment.
The apartment is located in Savyasachi Sarayu, a high-end residential development positioned in one of central Bengaluru’s most exclusive enclaves. According to registration documents accessed by Zapkey, the duplex spans 12,800 sq ft of super built-up area, with a carpet area of 9,929 sq ft. The price translates to ₹64,457 per sq ft on the carpet area and ₹50,000 per sq ft on the super built-up area—among the highest rates recorded in the locality.
The property includes four covered car parks, a lumber room in the basement, and a 2,479 sq ft undivided share in the land parcel. The seller is listed as Parag S Maniar of Savyasachi Projects, represented by H Vijayanath Hegde.
The apartment is spread across the 13th and 14th floors of the project, adding to the growing preference for vertical luxury living among ultra-high-net-worth individuals (UHNIs) in Bengaluru.
The transaction underscores a broader trend in Bengaluru’s high-end residential market, where premium apartment sales are increasingly matching the appeal of traditional luxury bungalows. According to Sandeep Reddy, co-founder of Zapkey and Propstack, the ₹50 crore-plus segment, once largely focused on standalone homes, is now witnessing growing interest in large-format luxury apartments. He noted that this shift is driven by rising demand for gated communities offering high-end amenities in central locations.
Jayamahal, where the duplex is located, has seen a steady increase in property values, particularly for larger units with upscale specifications and expansive floor plans. Kiran Kumar, Vice President at Hanu Reddy Realty, observed that current listings in the area are touching ₹40,000 per sq ft, with the neighbourhood’s direct connectivity to Palace Grounds enhancing its desirability among luxury homebuyers.
Other High-Value Transactions in Bengaluru
Pai’s purchase follows several recent big-ticket residential deals in Bengaluru’s central and elite neighbourhoods.
In May 2025, Paresh Raja, CEO of UK-based Market Financial Solutions, acquired a penthouse for ₹54.38 crore in the 27 Summit project by MAIA Estates. The duplex unit, located on the 25th and 26th floors in Sampangiram Nagar, offers 7,065 sq ft of carpet area and 10,629 sq ft of super built-up space. The sale was transacted at ₹77,000 per sq ft on the carpet area and ₹51,170 per sq ft on the super built-up area.
In 2024, Ajit Isaac, chairman of Quess Corp, made headlines after purchasing a 10,000 sq ft residence for ₹67.5 crore in Koramangala’s elite “billionaire street,” marking the city’s most expensive known residential deal to date.
Last December, Infosys founder N.R. Narayana Murthy bought a second apartment in the iconic Kingfisher Towers for ₹50 crore. The 8,400 sq ft apartment, located on the 16th floor, includes four bedrooms and five dedicated parking spots, with a per sq ft rate of ₹59,500.
These transactions point to Bengaluru’s emergence as a competitive luxury housing market on par with Mumbai and Delhi NCR. Increasing interest from business leaders, professionals, and global executives continues to fuel demand for centrally located, large-format luxury residences.
Image source- savyasachisarayu.com
