The People’s Education Society (PES), which is the organization behind PES University, has successfully acquired two standalone residences in the Sadashivanagar locality of Bengaluru for a total of Rs 110 crore. Analysts have noted that these transactions highlight the significant role played by institutions and affluent individuals in sustaining demand within the city’s high-value micro markets.
On April 1, PES, represented by its Chief Operating Officer Ajoy Kumar, finalized the purchase of an independent house with a land area of 9,840 sq ft for Rs 55.5 crore from Woodkraft India. Previously, on January 22, the society, represented by the Chancellor of PES University, Jawahar Doreswamy, acquired an adjacent independent house, which has a built-up area of 5,575 sq ft and spans across 9,840 sq ft of land, from BPL Ltd. for Rs 54.1 crore, as per a sales document provided by Zapkey, a data analytics firm.
These transactions in Sadashivanagar illustrate the persistent demand for prestigious land parcels in central Bengaluru, stated Sandeep Reddy, co-founder of Propstack. “Such transactions not only reflect the inherent value of the location but also the strategic long-term vision of the buyers—whether they are institutions aiming for expansion or ultra-high-net-worth individuals in search of legacy assets.
The availability of such large, well-situated plots is limited, which contributes to their premium valuation.” Bengaluru has experienced a surge in high-value real estate transactions in recent months. In January, Seema Ravanan, the spouse of Alfahive chairman Rostow Ravanan, acquired an independent house in Sadashivanagar for Rs 57.6 crore from the Kalappa family.
Around the same period, the Suvarna Family Trust purchased a property in Jayanagar for Rs 45.78 crore. Earlier this month, Paresh Shantilal Raja, the CEO of Market Financials, acquired a villa in Sadashivanagar for Rs 54.39 crore.
Henley & Partners, along with New World Wealth, recently reported that the number of dollar millionaires in India is expected to rise to one million by 2027, which is more than a threefold increase from 330,000 in 2017. This growth guarantees a larger pool of potential buyers for high-value properties and land transactions.
These individuals and institutions typically place a higher value on exclusivity, location, and the potential for long-term value creation rather than on short-term market fluctuations. Experts indicate that although residential markets may experience fluctuations in sales and new launches across broader segments, prime land in well-established micro markets continues to be attractive and commands significant valuations.
