Sanjay ended the week with a total score of 16-under-264 at the Rs 40 lakh tournament to be staged in North-East India.
Mukesh Kumar of Mhow, Madhya Pradesh, finished a distant second at 11-under-269 after returning a 67 in round four.
Sanjay (66-66-67-65), who started the final day two shots ahead, was in control of the situation from start to finish. The 43-year-old had a quiet front-nine, sinking a lone birdie on the fourth.
The seasoned professional, who is known for his cool temperament, landed it within four feet on 13th and 14th and sank his longest putt of the day, a 15-footer, on the 15th. Sanjay, thus ended up with the day's joint best score of 65.
Sanjay, who bagged his seventh professional title and first on the PGTI in three years, said, "I've waited a long time for this win. I feel I'm back at the top of my game now. I've had a fantastic week and particularly enjoyed the weather conditions and course conditions here. I'd love to come back to the Shillong Golf Course for more professional events in the future."
Mukesh (64-72-66-67), another seasoned campaigner, who started the final round three shots off the lead in third place, carded a 67 on the last day to finish runner-up.
He had five birdies and two bogeys today and missed two crucial eagle opportunities from 10 feet on the sixth and 10th. On the sixth he ended up with a birdie but on the 10th he three-putted for par. He had some consolation at the end, closing the day with a 15-feet birdie conversion on the 18th.
Shankar continues in second position on the Rolex Rankings but has now narrowed the gap between himself and the leader Rashid Khan to less than two lakh rupees.
Om Prakash Chouhan of Mhow and Sri Lankan K Prabagaran were joint fourth at eight-under-272.
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