6 days ago
Shruti Pai buys ₹64 crore luxury duplex in Bengaluru's Jayamahal Extension
Bengaluru: Shruti Pai, founder and director of Sagework Design, has bought a luxury duplex for ₹ 64 crore in a boutique condominium complex in Bengaluru in one of the most expensive residential deals in the city.
The 12,800 square foot apartment is spread across two floors in a project named Savyasachi Sarayu in the Jayamahal Extension area. The property was sold at ₹ 64,457 per sq. ft on the carpet area, as per documents accessed by real estate platform Zapkey. The sale deed was signed in June.
Before Sagework, Shruti Pai was creative director at Manipal Education & Health Group. She is married to Dr. Ranjan Pai, chairman of the Manipal Education and Medical Group.
Mumbai, India's most valuable property market, and Gurugram have topped the charts for a record number of luxury deals so far, including many ₹ 100 crore transactions. However, Bengaluru, which has always been a more affordable city for housing, is catching up.
'This deal reflects a growing trend in Bengaluru's high-value property market. Previously, the ₹ 50 crore-plus segment was dominated by bungalows, but we are now observing a clear rise in luxury apartment transactions at this level. This segment will likely expand as more developers cater to the demand for premium, amenity-rich gated living,' said Sandeep Reddy, co-founder of Zapkey.
Shruti Pai could not be reached immediately for comment. Dr Ranjan Pai didn't respond to Mint's queries.
The sale of homes in the ₹ 40-60 crore category in Bengaluru has picked up in recent months, driven by non-resident Indians, family offices and wealthy locals looking for modern homes.
Last year, Bengaluru-based Quess Corp chairman and managing director Ajit Isaac bought a 10,000 sq. ft property worth ₹ 67.5 crore in the prime Koramangala area, making it the most expensive residential transaction in the city.
For the first time, Bengaluru's ₹ 10 crore and above luxury market crossed the ₹ 1,000 crore mark in annual sales in 2024-25, marking a new benchmark for the city's premium housing sector, according to an April report by India Sotheby's International Realty and CRE Matrix.
The report highlighted strong interest in apartment sizes from 5,000 to 7,000 sq. ft, reflecting the growing appetite for spacious, high-end living.
