Bengaluru – In a landmark real estate transaction of 2025, Ranjan Pai, Chairman of the Manipal Group, through his investment entity Esencia Partners, has secured a premium property on Lavelle Road in Bengaluru’s upscale Shantala Nagar area for ₹165.6 crore. The sprawling land parcel measures 25,824 square feet and includes two existing structures, each approximately 3,340 square feet. This high-profile deal, officially registered on September 9, 2025, highlights the increasing demand among ultra-high-net-worth individuals for exclusive land assets in central Bengaluru—a city rapidly emerging as one of India’s premier luxury real estate destinations. Prime Location Commands Record Price Located near key landmarks such as UB City, Cubbon Park, and Vittal Mallya Road, Lavelle Road is renowned for its prestigious address featuring luxury residences, boutique hotels, and upscale office spaces. The transaction reflects a remarkable price of around ₹64,150 per square foot, according to Sandeep Reddy, co-founder of real estate data firm Zapkey. Reddy emphasized the uniqueness of this acquisition, describing it as one of the most significant land purchases in Bengaluru this year, especially given the scarcity of large plots in the city’s central business district. Growing Confidence Among India’s Elite This acquisition aligns with a broader pattern of high-value investments from the Pai family. Earlier in June 2025, Shruti Pai, spouse of Ranjan Pai, made headlines by purchasing a luxury duplex apartment in Jayamahal Extension for ₹64 crore—another top-tier transaction in terms of per-square-foot pricing in the area. Industry experts interpret these landmark deals as a strong endorsement of Bengaluru’s luxury property market by India’s billionaire class. The sustained investments underscore the city’s robust long-term demand, strategic location appeal, and the increasing scarcity of prime land, reinforcing Bengaluru’s status as a luxury real estate hotspot.