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In the Central Business District (CBD) of Bengaluru, a breathtaking penthouse recently sold for an incredible ₹54.38 crore in a historic deal that has completely changed the city's luxury real estate market. This transaction is one of the priciest real estate deals in Bengaluru to date and is focused on MAIA Estates' upmarket 27 Summit project.
The Landmark Deal
The luxurious penthouse, which takes up the 25th and 26th floors of the upscale residential complex, is situated in Sampangiram Nagar, a desirable neighborhood in Bengaluru's central business district. It has an incredible 7,065 square feet of carpet space. The property's super built-up area is 10,629 square feet. The sale was completed at a super built-up rate of ₹51,170 per square foot and a carpet area rate of ₹77,000 per square foot. The penthouse's reputation as a symbol of upscale residential real estate is cemented by these numbers.
This high-end house was purchased by Paresh Raja, CEO of Market Financial Solutions, a company based in the United Kingdom. A double garage, a private storage unit, and four parking spots are also included in the purchase. Under MAIA Estates, the seller, Nestled Haven Developers LLP, is a special-purpose vehicle.
Also Read: Homeownership a Priority for 80% of Indians: Key Trends from Chennai to MMR
A Look at the Property
The penthouse is part of MAIA Estates’ luxury project, 27 Summit, where units start at ₹20 crore for 4,200 sq ft apartments. Scheduled for completion by November 2025, the project is designed to cater to the most discerning buyers. The penthouse’s central location, combined with its luxurious amenities and architectural finesse, makes it a unique offering in Bengaluru’s competitive real estate landscape.
What Sets This Deal Apart?
The ₹54 crore transaction is not just a testament to the growing demand for ultra-luxury residences in Bengaluru but also highlights the city’s appeal as a hub for high-net-worth individuals (HNIs). Sampangiram Nagar, though not traditionally a luxury hotspot like Koramangala or Indiranagar, boasts proximity to key commercial hubs, arterial roads, and high-end establishments such as ITC Gardenia.
“Sampangiram Nagar is centrally located and part of Bengaluru’s CBD, offering unparalleled connectivity to major landmarks and high streets like MG Road and Brigade Road,” noted Kiran Kumar, Vice President at Hanu Reddy Realty.
Bengaluru’s Luxury Real Estate Market: Key Trends
This transaction isn’t an isolated event. Bengaluru has seen several high-value real estate deals in recent years. For instance:
- Infosys founder N.R. Narayana Murthy purchased a luxury apartment in Kingfisher Towers for ₹50 crore in December, cementing the project’s reputation as a “Billionaires’ Tower.”
- A property in Indiranagar’s Defence Colony was sold for ₹47.5 crore last year, featuring an 8,800 sq ft land parcel.
These transactions underscore Bengaluru’s position as a burgeoning luxury real estate market.
Drivers of Demand for Luxury Properties
The rapid rise in Bengaluru’s luxury real estate can be attributed to several factors:
- Affluent Demographic: The city’s tech-driven economy and entrepreneurial ecosystem have created a growing pool of HNIs.
- Central Business District Appeal: Proximity to commercial hubs and high-end amenities makes areas like Sampangiram Nagar highly desirable.
- Limited Inventory: With few ultra-luxury projects available, demand often exceeds supply.
- Exclusive Features: Properties like the 27 Summit penthouse offer features such as private garages, panoramic views, and state-of-the-art facilities.
Challenges in Bengaluru’s Luxury Real Estate
While the market is thriving, challenges remain. Limited high-quality inventory, infrastructure bottlenecks, and regulatory hurdles can pose obstacles. Furthermore, the cost of maintaining such properties can be substantial, potentially limiting the buyer pool.
The Future of Luxury Real Estate in Bengaluru
Bengaluru’s luxury real estate market is poised for further growth. Emerging neighborhoods, innovative architectural designs, and an influx of international developers are expected to shape the city’s high-end property landscape. Additionally, sustainable and smart home features are likely to become standard in upcoming projects.
Also Read: Property Prices Increase Across 48 out of the 50 Cities in Q4 FY25
Conclusion
The Central Business District penthouse in Bengaluru sold for ₹54 crore, marking a major turning point in the city's real estate market. This deal not only demonstrates the city's increasing allure for wealthy purchasers, but it also establishes a new standard for opulent Indian living. With its unique combination of exclusivity, convenience, and elegance, Bengaluru's luxury real estate market is definitely growing.
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Ans 1. This is one of Bengaluru's most expensive real estate transactions, showcasing the rising demand for ultra-luxury residences in the city.
Ans 2. The penthouse is situated in Sampangiram Nagar, part of Bengaluru’s Central Business District (CBD), known for its proximity to commercial hubs and high-end establishments.
Ans 3. The penthouse was purchased by Paresh Raja, CEO of UK-based Market Financial Solutions. The seller is Nestled Haven Developers LLP under MAIA Estates.
Ans 4. The property spans 7,065 square feet of carpet area and 10,629 square feet of super built-up area. It includes a double garage, a private storage unit, and four parking spots.
Ans 5. 27 Summit is a luxury residential project by MAIA Estates. It features high-end apartments starting at ₹20 crore and is designed for discerning buyers, with completion expected by November 2025.
Ans 6. Though not a traditional luxury hub, Sampangiram Nagar's central location, connectivity to MG Road and Brigade Road, and proximity to key commercial areas make it highly desirable.
Ans 7. Infrastructure bottlenecks, limited high-quality inventory, regulatory hurdles, and high maintenance costs can be barriers for buyers and developers.
Ans 8. The market is expected to grow with the development of new neighborhoods, sustainable designs, smart home features, and increased involvement of international developers.