Ranjan Pai's firm Buy Prima Property in Bengaluru for £ 165

Bengaluru: Esencia Partners, a firm in which Ranjan Pai, head of Manipal hospitals, is a managing partner, bought a property in Bengaluru’s Prime Lavelle Road, a luxury residential and commercial street, for £ 165.6 crore. The area of ​​the site with a building built on it is about 25,824 square meters. According to the registration data obtained by the real estate data platform Zapkey, the property was sold by one Mira Angeline Cummins, an Australian passport holder. The deed of sale was signed on September 12. Pai is the chairman of the Manipal Education and Medical Group, which spreads businesses on healthcare, education and private investment. Property Agreement “This transaction on Lavelle Road is one of the most important real estate transactions in Bengaluru this year. The price, which amounts to around £ 64,150 per square feet, underlines the tremendous value and scarcity of land in one of the city’s most sought after and most expensive addresses,” says Sandep Redy, co-giving, Zapkey. “Large, independent land packs are a rarity in Central Bengaluru, making it a valued trophy asset. The purchase by a prominent business leader like Ranjan Pai indicates a strong confidence of the ultra-high-net-world individuals in the long-term value of Bengaluru’s luxury real estate market,” added Reddy. Pai did not respond to Mint’s inquiries. Mint could not immediately reach Cummins, the seller. “The terrain on Lavelle Road has an old bungalow,” says a person in the Know, who does not want to be mentioned. Ultra-rich individuals in cities such as Mumbai, Delhi-National Capital Region and Bengaluru have bought prime properties, even if swing prices upwards. Such transactions are both for personal use of the properties as well as for investment purposes. In June, Shruti Pai, founder and director of the design of Saliekerk, bought a luxury duplex for £ 64 in a boutique conductominium complex in Bengaluru, in one of the most expensive residential offers in the city. Before sagging, Shruti Pai was creative director at Manipal Education and Health Group. She is married to Ranjan Pai. The largest 2024 agreement occurred when Ajit Isaac, managing director of Quess Corp, bought a 10,000 square -meter property in Bengaluru’s ‘Billionaire Street’ in the Koramangala area for £ 67.