Narayana Hrudayalaya Buys Three Land Parcels Along Bannerghatta Road

Healthcare major Narayana Hrudayalaya Limited has acquired three land parcels in Hulimavu, located along the Bannerghatta Main Road in south Bengaluru, for a total consideration of ₹246 crore. The transactions were concluded on February 3, 2025, and together comprise over 46,000 square feet of land. The acquisitions were made from members of the same family in three separate deals, according to property documents accessed via Propstack.

The largest of the three transactions was a ₹177.7 crore deal with Kelachandra Veneer Industries for a land parcel measuring 93,500 square feet. The agreement was executed by representatives Thomas Markose and Neelu Markose. This parcel includes approximately 10,000 square feet of built-up structures. In a second transaction, Narayana Hrudayalaya acquired 17,424 square feet from Neelu Markose for ₹33.1 crore. The third deal involved the purchase of 18,513 square feet from Thomas Markose for ₹35.17 crore.

These land acquisitions strengthen Narayana Hrudayalaya’s real estate holdings along the Bannerghatta corridor, a prominent zone in south Bengaluru known for its healthcare clusters and residential catchments. The company has not officially disclosed its development intentions for these plots. Emails sent to Narayana Hrudayalaya seeking comment had not received a response at the time of publication.

Narayana Hrudayalaya was founded in 2000 by Dr. Devi Shetty and operates 18 hospitals and three heart centres across India. It also has an international presence through its medical facility in the Cayman Islands. The group has been expanding its network of healthcare infrastructure across strategic locations in India, with Bengaluru serving as one of its core markets.

The Hulimavu locality, where these recent acquisitions were made, is situated along the busy Bannerghatta Road corridor. This part of the city houses several well-known hospitals, educational institutions, and residential communities. In recent years, the locality has drawn attention for healthcare-related real estate investments, owing to its accessibility and growing urban infrastructure.

These transactions follow Narayana Hrudayalaya’s earlier land purchase in May 2024, when the company acquired 1.2 acres—equivalent to approximately 52,272 square feet—in Begur Hobli, south Bengaluru, for ₹169 crore. The seller in that transaction was Venture Projects Bangalore Private Limited, and the sale deed was executed on March 1, 2024.

Property prices in south Bengaluru have shown a gradual upward trend. According to local real estate brokers, micro-markets like Bannerghatta Road, JP Nagar, BTM Layout, Kanakapura Road, and Electronic City have seen property values increase by 15–20% over the past two years. However, analysts note that compared to north and east Bengaluru, the pace of growth in the southern sectors has been more modest.

Infrastructure upgrades in the southern part of the city, including the Bengaluru-Mysuru Expressway and expansion of the metro network, have positively impacted land values in several localities. These developments have enhanced connectivity and increased the attractiveness of south Bengaluru for institutional and commercial investments.

While the specific end-use of the newly acquired land parcels has not been revealed, market observers speculate that the company could use them for healthcare expansion or to create integrated health and diagnostic centres. The presence of existing structures on at least one of the plots may also allow for faster redevelopment or retrofitting, depending on regulatory approvals.