In one of the most significant real estate transactions of the year, Shruti R Pai, founder and director of Sagework Design and wife of Manipal Group chairman Dr Ranjan Pai, has purchased a luxury duplex apartment worth ₹64 crore in the upscale Jayamahal Extension area of Bangalore. The deal reflects the growing demand for ultra-luxury homes in central Bengaluru, especially from high-net-worth individuals seeking premium gated living in landmark locations.
The duplex apartment is located on the 13th and 14th floors of Savyasachi Sarayu, a boutique high-rise development known for its exclusivity and architectural design. The home spans a super built-up area of 12,800 square feet with a carpet area of 9,929 square feet. The transaction price translates to approximately ₹64,460 per square foot of carpet area, marking one of the highest rates recorded in this micro-market. The apartment comes with four covered car parking spaces, a basement lumber room, and private lobby access, underlining its premium features.
Jayamahal Extension, located near Bangalore Palace and the city’s Central Business District, has long been favored by legacy families and ultra-wealthy buyers. The area offers a unique blend of heritage charm and modern infrastructure, making it an ideal choice for luxury living. The purchase by Shruti Pai highlights a growing shift in buyer preference—from independent bungalows to high-end apartments with privacy, space, and world-class amenities.
This deal is part of a broader trend in Bangalore’s luxury real estate market. Over the past year, several marquee transactions have taken place, including Ajit Isaac of Quess Corp purchasing a ₹67.5 crore property in Koramangala, Nithin Kamath of Zerodha acquiring a bungalow for over ₹70 crore, and Flipkart co-founder Binny Bansal investing over ₹55 crore in Sadashivanagar. These high-value deals reflect the rising appetite for luxury homes in the ₹40–75 crore range among entrepreneurs and UHNI families.
Industry experts point to a surge in demand for luxury apartments due to limited supply and the growing number of ultra-rich residents in the city. Bengaluru currently has over 250 UHNIs, a number projected to exceed 320 by 2027. Developers are responding to this shift by launching boutique projects that combine spacious layouts with premium amenities in prime neighborhoods.
A recent report by JLL India indicates that sales of affordable homes under ₹1 crore fell by 32% across major cities in the first half of 2025, while the premium segment (₹1 crore and above) grew by 6%. Notably, high-end homes now account for 62% of all residential sales in the top seven cities. In Bengaluru, the ₹40 crore-plus segment is witnessing strong end-user interest, as more families look for long-term value, security, and a luxury lifestyle within a managed environment.
Shruti Pai’s ₹64 crore apartment purchase underscores this evolving trend in Bangalore’s real estate landscape. As luxury apartments continue to offer a blend of space, convenience, and exclusivity, they are emerging as strong contenders to independent homes—even in the city’s most established neighborhoods.
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