Bengaluru: In one of the biggest real estate deals of 2025, Manipal Group chairman Ranjan Pai, through his investment arm Esencia Partners, has bought a high-value property on Lavelle Road in Bengaluru’s posh Shantala Nagar for a whopping Rs 165.6 crore. The land spans 25,824 sq ft and includes two existing structures measuring around 3,339.9 sq ft each.
This deal, registered on September 9, 2025, underlines a growing appetite among ultra-wealthy individuals for premium land parcels in central Bengaluru—a city rapidly becoming one of India’s hottest luxury real estate hubs.
Unmatched Location and Record Price
Situated close to UB City, Cubbon Park, and Vittal Mallya Road, this location is considered one of the most prestigious and expensive addresses in Bengaluru. Lavelle Road is dotted with luxury residences, boutique hotels, and high-end offices.
The per square foot rate of the land clocks in at approximately Rs 64,150, according to Sandeep Reddy, co-founder of data analytics firm Zapkey, which accessed the transaction details. 'This is one of the most significant land purchases this year,' Reddy noted, calling it a rare trophy asset in a city where large plots in the central business district are increasingly scarce.
Confidence from India’s Billionaire Class
This purchase is not an isolated move. In June 2025, Shruti Pai, wife of Ranjan Pai, also made headlines by acquiring a Rs 64 crore luxury duplex apartment in Jayamahal Extension. That deal, too, was among the highest per-square-foot property purchases in the area.
Industry watchers believe such transactions reflect strong confidence from India’s wealthy in Bengaluru’s luxury property market, backed by long-term demand, location value, and land scarcity. The continued investments from the Pai family only reinforce this growing trend.
