Jayamahal Duplex Sold for Rs 64 Cr to Manipal Group Family

Shruti R Pai, spouse of Ranjan Pai, Chairman of Manipal Education & Medical Group, has acquired a luxury duplex apartment in Bengaluru's high-end Jayamahal Extension for Rs.64 crore. The transaction, sealed in June 2025, is one of the city's highest-value apartment deals.

Situated on floors 13 and 14 of the Savyasachi Sarayu tower, the apartment has 12,800 sq ft super built-up area (9,929 sq ft carpet) and four covered car parks, in addition to a lumber room. The tag is worked out at around Rs.64,457 per sq ft carpet area, a new peak in Jayamahal, a high-end locality close to Bangalore Palace and the central business district. 

Key Highlights:

• Shruti R Pai acquires Rs.64 crore luxury duplex in Bengaluru’s elite Jayamahal Extension
• Deal sets a price benchmark at Rs.64,457 per sq ft carpet area for the locality
• Signals growing UHNI preference for high-end apartments over bungalows in top city markets

The seller, Savyasachi Projects, was represented by Parag S. Maniar and H. Vijayanath Hegde. The deal represents an increasing trend of ultra-high-net-worth individuals (UHNIs) opting for luxury apartments as opposed to bungalows in Bengaluru's top markets.

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“This acquisition is part of a rising trend in the high-value property segment in Bangalore. Earlier, the Rs.50 crore-plus category was dictated by bungalows, but now we are seeing a distinct increase in transactions for luxury apartments at this level. This segment is expected to widen as more builders address the need for high-end, amenity-laden gated complexes," said Sandeep Reddy, co-founder of Propstack.

The deal adds to a string of recent marquee transactions in the city, such as Zerodha's Nithin Kamath buying a Rs.70 crore bungalow in Koramangala and Ajit Isaac's Rs.67.5 crore deal, which reflects a strong appetite for ultra-luxury housing in Bengaluru.