Narayana Hrudayalaya expands Bengaluru presence with Rs 246 cr land deal on Bannerghatta Road
Hospital network
Narayana Health
has acquired prime land parcels worth Rs 246 crore on Bannerghatta Main Road, a rapidly emerging healthcare corridor in Bengaluru, marking one of the most significant institutional healthcare real estate transactions of 2025.
The acquisition, executed through three separate sale deeds dated February 3, 2025, was transacted with members of the same family—Thomas Markose, Neelu Markose and their partnership firm Kelachandra Veneer Industries—according to registration documents accessed via Propstack.
The largest of the three transactions involved a payment of Rs 177.7 crore for land covering 93,500 sq ft, including approximately 10,000 sq ft of dilapidated built-up area. The sellers were Kelachandra Veneer Industries, represented by Thomas and Neelu Markose.
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Separately, 17,424 sq ft was purchased from Neelu Markose for Rs 33.1 crore, and another 18,513 sq ft was acquired from Thomas Markose for Rs 35.17 crore.
In total, Narayana Health, earlier known as Narayana Hrudayalayay, now controls about 120,000 sq ft, or about 3 acres, in Hulimavu, a neighbourhood strategically located along one of the city's busiest medical zones, said the sales document.
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This purchase builds on Narayana Health's aggressive land acquisition strategy in the city. In March 2024, the hospital chain had acquired 1.2 acres of land for Rs 169 crore in Begur Hobli, also in southern Bengaluru, according to data from Propstack. That deal involved 52,272 sq ft purchased from Venture Projects Bangalore Private Limited.
Founded by cardiac surgeon Dr. Devi Shetty in 2000, Narayana Health has established itself as a significant player in the Indian healthcare landscape, driven by its model of providing affordable, high-quality care.
Narayana Health operates a network of approximately 19 hospitals and three heart centres across India, along with an overseas presence in the Cayman Islands. It boasts of over 5,860 operational beds and a capacity for over 6,160 beds across its facilities.
Sources said the newly acquired land on Bannerghatta Road could be used to build a super-specialty unit, a healthcare training institute, or a medical research centre, as part of its long-term infrastructure expansion strategy.
A senior healthcare consultant familiar with the deal said, 'This move reflects
Narayana Hrudayalaya
's continued commitment to strengthening its presence in Bengaluru and scaling infrastructure to meet rising demand for super-specialty and research-oriented care.'
Bannerghatta Road has evolved into a vital healthcare and residential corridor, with several leading hospitals, diagnostics labs and medical colleges already established. Infrastructure upgrades, including the expansion of metro connectivity, are boosting land value in the area.
'The Hulimavu acquisition not only offers strategic adjacency to existing Narayana Hrudayalaya operations but also positions the group for long-term growth amid increasing urban healthcare needs,' he said.
Meanwhile, Bengaluru has seen a sharp rise in high-value land transactions, including notable residential and institutional asset purchases by prominent healthcare professionals such as Dr. Anesh Shetty and Dr. Devi Prasad Shetty of Narayana Health. The super-luxury residential and large land parcel segments are witnessing robust demand across major Indian metros.
According to Knight Frank India, the number of ultra-high-net-worth individuals (UHNWIs) in India — defined as those with a net worth exceeding $30 million — is expected to grow by 58.4% in the next five years, reaching 19,119 by 2027, up from 12,069 in 2022. India's billionaire count is projected to increase from 161 in 2022 to 195 by 2027, fueling demand for prime real estate in the healthcare, residential, and institutional segments.
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