Shetty is the second and youngest daughter of Surendra and Sunanda Shetty. She was born in a traditional close-knit family that hails from the Bunt community of south Kannada\Mangalore. Her parents are manufacturers of tamper-proof caps for the pharmaceutical industry and her native language is Tulu. Shamita Shetty attended St Anthony's Girls High School in Chembur, Mumbai. She graduated from Sydenhams College. In recent polls Shamita Shetty has been estimated at a Net Worth of INR 115 Million.