The People’s Education Society (PES), the organization behind PES University, has acquired two independent houses in the Sadashivanagar region of Bengaluru for a total of Rs 110 crore.
Analysts indicate that these transactions highlight the ongoing demand from institutions and high-net-worth individuals in the city’s premium micro markets.
On April 1, PES, represented by COO Ajoy Kumar, purchased a 9,840 sq ft independent house for Rs 55.5 crore from Woodkraft India. Previously, on January 22, the society, with representation from PES University Chancellor Jawahar Doreswamy, bought an adjacent house with a built-up area of 5,575 sq ft on the same land size from BPL Ltd. for Rs 54.1 crore, as per a sales document from data analytics firm Zapkey.
“These transactions in Sadashivanagar reflect a strong appetite for prime land parcels in central Bengaluru,” stated Sandeep Reddy, co-founder of Propstack. “Such deals signify the inherent value of the location and the strategic long-term vision of buyers, whether they are expanding institutions or ultra-high-net-worth individuals acquiring legacy assets. The availability of expansive, well-situated plots is limited, contributing to their high valuations.”
Recently, Bengaluru has witnessed a series of substantial real estate transactions. In January, Seema Ravanan, spouse of Alfahive chairman Rostow Ravanan, bought an independent house in Sadashivanagar for Rs 57.6 crore from the Kalappa family. Around the same time, the Suvarna Family Trust purchased a property in Jayanagar for Rs 45.78 crore.
Earlier this month, Paresh Shantilal Raja, CEO of Market Financials, acquired a villa in Sadashivanagar for Rs 54.39 crore.
Henley & Partners and New World Wealth recently reported that the number of dollar millionaires in India is projected to reach one million by 2027, a significant increase from 330,000 in 2017. This growth offers a larger base of potential buyers for high-value properties and land deals. These buyers often prioritize exclusivity, prime location, and long-term asset value over short-term market fluctuations.
Experts suggest that while the residential market may experience fluctuations in sales and new project launches, prime land in established micro markets maintains its desirability and attracts considerable valuations.
