Luxury penthouse in Bengaluru’s Central Business District sells for ₹54 crore

In one of the most expensive real estate deals in Bengaluru, Paresh Raja, CEO of UK-based Market Financial Solutions, has bought a luxury penthouse in MAIA Estates’s upscale 27 Summit project for ₹54.38 crore, as per documents accessed by Zapkey.

Located in Sampangiram Nagar, one of central Bengaluru’s most sought-after neighborhoods, the penthouse spans 7,065 sq ft of carpet area and occupies the 25th and 26th floors of a premium residential project. According to the sale document, the property’s super built-up area is 10,629 sq ft.

The deal was closed at a carpet area rate of ₹77,000 per sq ft and a super built-up rate of ₹51,170 per sq ft, making it one of the most high-end residential transactions in Bengaluru in recent times, according to real estate experts.

The purchase also includes four parking spaces, a double garage, and a private storage unit. Nestled Haven Developers LLP is the seller in the transaction.

MAIA Estates is currently marketing apartments at its luxury project, 27 Summit, with prices starting at ₹20 crore for 4,200 sq ft units—making the recent penthouse transaction significantly above the entry-level pricing, sources said. According to documents, the project is slated for completion on or before November 27, 2025.

Nestled Haven Developers LLP (NHDL), the seller in the transaction, is a special-purpose vehicle of the MAIA Group. MAIA Estates LLP serves as the holding company of the group.

The buyer, Paresh Raja, is the founder of Market Financial Solutions, a London-based specialist finance firm established in 2006. The company provides loans and buy-to-let mortgages for property investors.

MAIA Estates declined to respond to queries sent by HT.com. An email has been sent to the buyer. If a response is received, the story will be updated.

Also Read: Why Narayana Murthy’s real estate purchase in Bengaluru is anything but simple

Where is Sampangiram Nagar located?

Real estate experts note that Sampangiram Nagar is a centrally located and well-connected area in Bengaluru. While it may not traditionally rank among the city’s top ultra-premium residential zones like Koramangala or Indiranagar, its proximity to key commercial hubs, major arterial roads such as Residency Road and Richmond Road, and central business districts (CBD), including MG Road and Lavelle Road, enhances its attractiveness.

“It’s a centrally located area and part of Bengaluru’s Central Business District (CBD), with proximity to top hotels like ITC Gardenia and other major landmarks,” said Kiran Kumar, vice president of Hanu Reddy Realty.

“While only a few projects in this locality command such premium pricing, most luxury properties in the area are typically priced between ₹25,000 to ₹40,000 per sq ft. The location is highly valued due to its easy access to high streets like MG Road and Brigade Road,” he said.

Also Read: Here’s why Bengaluru’s Billionaire Street is the costliest and most coveted neighbourhood in the city

Bengaluru’s highest residential transactions

One of the highest-value residential transactions in Bengaluru occurred last December when Infosys founder N.R. Narayana Murthy purchased a second luxury apartment in the city’s exclusive Kingfisher Towers for a staggering ₹50 crore. The 8,400 sq ft unit, located on the 16th floor, includes four bedrooms and five dedicated car parking spaces.

The deal was closed at ₹59,500 per sq ft, placing it among the most expensive residential purchases in Bengaluru. Known as the Billionaires’ Tower, Kingfisher Towers is a 34-storey ultra-luxury development featuring around 81 apartments (all 4 BHKs) spread across three blocks on a 4.5-acre site, with average unit sizes of 8,321 sq ft.

Another notable high-value transaction took place in August in Bengaluru’s upscale Indiranagar, where a property was sold for ₹47.5 crore. The sale was registered under the names of Shrinibash Sahoo and Himadri Tanaya Lenka. Sahoo, who operates several businesses in Odisha, also owns the Lyfe Hotel in Bhubaneswar.

According to registration documents, the property comprises an 8,800 sq ft land parcel with an independent home having a built-up area of 2,500 sq ft, located in the Defence Colony neighbourhood of Indiranagar.