In a record-breaking real estate deal, Paresh Raja, CEO of the UK-based Market Financial Solutions, has purchased a luxurious penthouse in Sampangiram Nagar, Bengaluru, for a staggering ₹54.38 crore. This property, located in the upscale 27 Summit project by MAIA Estates, has become one of the city’s most expensive residential transactions in recent times. With an expansive 7,065 sq ft carpet area and a premium location in the heart of Bengaluru’s Central Business District (CBD), the deal has captured the attention of real estate experts, cementing Bengaluru’s status as a growing hub for high-end properties.
Key Highlights of Bengaluru’s ₹54 Crore Penthouse Deal
The Penthouse: A Glimpse of Luxury
The penthouse occupies the 25th and 26th floors of the 27 Summit project, offering sweeping views of the city. With a carpet area of 7,065 sq ft and a super built-up area of 10,629 sq ft, the property commands an incredible ₹77,000 per sq ft for carpet area and ₹51,170 per sq ft for the super built-up area. This puts it at the higher end of Bengaluru’s real estate market, especially given the location’s appeal and proximity to key commercial hubs.
In addition to the penthouse, the buyer secured four parking spaces, a double garage, and a private storage unit, adding significant value to the deal. The 27 Summit project, slated for completion in November 2025, is currently marketing units starting at ₹20 crore for smaller apartments, making this penthouse sale a noteworthy outlier.
Sampangiram Nagar: A Central Location with Premium Appeal
While Sampangiram Nagar has not traditionally been regarded as one of Bengaluru’s most ultra-luxury neighborhoods, its central location within the CBD offers proximity to key commercial centers such as MG Road, Lavelle Road, and Residency Road, making it an attractive destination for high-net-worth individuals (HNWIs). Kiran Kumar, Vice President of Hanu Reddy Realty, points out that the locality’s easy access to prominent streets like MG Road and Brigade Road significantly enhances its appeal.
“This centrally located area is part of Bengaluru’s CBD and is valued for its easy access to top hotels like ITC Gardenia and key landmarks,” said Kumar. While most luxury properties in the area are priced between ₹25,000 to ₹40,000 per sq ft, this penthouse’s sale price places it at the top end of the spectrum.
A New Standard for Bengaluru’s Luxury Market
Breaking Records in Luxury Transactions
This penthouse sale is not the first to break records in Bengaluru’s luxury real estate market. Last December, Infosys founder N.R. Narayana Murthy purchased a second luxury apartment in Kingfisher Towers, one of the city’s most prestigious buildings, for a staggering ₹50 crore. In addition, another major deal took place in Indiranagar, where a property was sold for ₹47.5 crore in August.
What makes this penthouse purchase stand out is the combination of its prime location, spacious layout, and luxurious amenities—factors that have made it a significant outlier in Bengaluru’s real estate transactions, as noted by industry experts.
The Developer and The Buyer
The penthouse was sold by Nestled Haven Developers LLP (NHDL), a special-purpose vehicle under the MAIA Group. The project, 27 Summit, is marketed as an ultra-luxury offering with prices starting at ₹20 crore. The buyer, Paresh Raja, is the CEO of Market Financial Solutions, a finance firm known for providing loans and mortgages to property investors. Raja’s acquisition underscores the growing international interest in Bengaluru’s luxury real estate market.
Summary Table of Key Facts:
| Key Fact | Details |
|---|---|
| Buyer | Paresh Raja, CEO of Market Financial Solutions |
| Property | Penthouse in 27 Summit project, Sampangiram Nagar, Bengaluru |
| Sale Price | ₹54.38 crore |
| Carpet Area | 7,065 sq ft |
| Super Built-Up Area | 10,629 sq ft |
| Cost per sq ft (Carpet Area) | ₹77,000 per sq ft |
| Cost per sq ft (Super Built-Up) | ₹51,170 per sq ft |
| Amenities Included | 4 parking spaces, double garage, private storage unit |
| Developer | MAIA Estates, seller: Nestled Haven Developers LLP (NHDL) |
| Completion Date | November 27, 2025 |
| Notable Previous Deals | N.R. Narayana Murthy’s ₹50 crore purchase in Kingfisher Towers |
FAQ Section
1. What makes the ₹54 crore penthouse in Bengaluru unique?
The penthouse’s prime location in Sampangiram Nagar, its spacious layout, and the high-end amenities set it apart from most luxury properties in Bengaluru. Its sale price of ₹77,000 per sq ft for carpet area is among the highest in the city.
2. Who is the buyer of the penthouse, and what is his background?
The buyer is Paresh Raja, CEO of Market Financial Solutions, a London-based finance firm. His company provides loans and buy-to-let mortgages for property investors, reflecting his deep ties to the real estate sector.
3. Why is Sampangiram Nagar considered an attractive location for luxury real estate?
Although not traditionally seen as an ultra-premium neighborhood, Sampangiram Nagar offers easy access to Bengaluru’s Central Business District, key commercial areas like MG Road and Brigade Road, and proximity to top hotels and landmarks, enhancing its appeal.
4. How does this penthouse deal compare to other high-end transactions in Bengaluru?
This sale is one of the highest-value residential transactions in Bengaluru in recent times, following other notable deals such as N.R. Narayana Murthy’s ₹50 crore purchase in Kingfisher Towers.
5. What is the expected completion date for the 27 Summit project?
The project is slated for completion on or before November 27, 2025, according to current documents.